The case involves an appeal before the Supreme Court of India. The respondent's counsel submitted that the matter should be sent back to the Tribunal for consideration of the admission of the insolvency application after issuing limited notice to the Corporate Debtor. A prior decision of the Court in Innoventive Industries Limited vs. ICICI Bank and another was referenced.
The appellant, D.R. Balkrishna Raja, filed a civil appeal against the respondent, Indian Bank & Anr. The respondent's counsel requested that the matter be remanded to the Tribunal for reconsideration of the insolvency application, ensuring limited notice to the Corporate Debtor. The Court considered this request, referencing the case of Innoventive Industries Limited vs. ICICI Bank and another. The appeal was subsequently allowed, the orders of the NCLAT and Adjudicating Authority were set aside, and the matter was remanded to the Adjudicating Authority in Chennai for de novo consideration, with the condition of issuing limited notice to the corporate debtor.
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The Supreme Court allowed the appeal, set…
The case involves an appeal before the Supreme Court of India. The respondent's counsel submitted that the matter should be sent back to the Tribunal for consideration of the admission of the insolvency application after issuing limited notice to the Corporate Debtor. A prior decision of the Court in Innoventive Industries Limited vs. ICICI Bank and another was referenced.
The appellant, D.R. Balkrishna Raja, filed a civil appeal against the respondent, Indian Bank & Anr. The respondent's counsel requested that the matter be remanded to the Tribunal for reconsideration of the insolvency application, ensuring limited notice to the Corporate Debtor. The Court considered this request, referencing the case of Innoventive Industries Limited vs. ICICI Bank and another. The appeal was subsequently allowed, the orders of the NCLAT and Adjudicating Authority were set aside, and the matter was remanded to the Adjudicating Authority in Chennai for de novo consideration, with the condition of issuing limited notice to the corporate debtor.
The Supreme Court allowed the appeal, set…