# In the matter of Dr. Palani G Periasamy Vs CA M Suresh Kumar

> SC judgment dated 2024-03-18. Citation: TCN-2024-SC-00087. The case involves a civil appeal before the Supreme Court of India. The Indian Renewable Energy…

- **Court:** SC
- **Order date:** 18 Mar 2024
- **Citation:** TCN-2024-SC-00087
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/dr-palani-g-periasamy-vs-ca-m-suresh-kumar-6f13b6c7

## Summary

### Background

The case involves a civil appeal before the Supreme Court of India. The Indian Renewable Energy Development Agency Ltd. and National Asset Reconstruction Company Limited accepted a proposal, leading to the appeal. The judgment/order dated 27.06.2023, passed by the National Company Law Tribunal (NCLT), Special Bench-I, Chennai, was challenged. The matter was remitted back to the NCLT for examination and to follow the procedure established by law under Section 12A of the Insolvency and Bankruptcy Code, 2016.

## Facts

The Civil Appeal No. 5308 of 2023 was filed in the Supreme Court of India. The appellant is Dr. Palani G Periasamy, and the respondents are CA. M. Suresh Kumar & Anr. The Indian Renewable Energy Development Agency Ltd. and National Asset Reconstruction Company Limited accepted a proposal. The National Company Law Tribunal (NCLT), Special Bench-I, Chennai, had previously passed a judgment/order on 27.06.2023. The Supreme Court set aside the NCLT's order and remitted the matter back to the NCLT for examination under Section 12A of the Insolvency and Bankruptcy Code, 2016. The parties are directed to appear before the NCLT on 10.04.2024. The Supreme Court requested the NCLT to decide the matter expeditiously. The case was heard by Justices Sanjiv Khanna and Dipankar

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## Issues and analysis

### Issue 1: Whether the impugned order and judgment/order dated 27.06.2023 passed by the National Company Law …

**Ratio:** The legal principle applied is that if subsequent developments warrant a reconsideration

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**Reasoning:** The court reasoned that since the Indian Renewable Energy Development Agency Ltd. and

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**Interpretation:** This involves interpreting the scope of appellate jurisdiction and the power of

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**Application:** The ratio and reasoning are applied to the specific facts of the case where the

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## Parties

- **Judges:** SANJIV K…; DIPANKAR…
- **Appellants:** PALANI G PE…
- **Respondents:** CA. M. SURESH…
- **Other parties:** Over Tu…

## Timeline

- **2023-06-27 — NCLT Ord…**: The National Company Law Tribunal (NCLT), Special Bench-I, Chennai, passed a…
- **2024-03-18 — Supreme Court…**: The matter was called for hearing…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 12A — (1) Subject to sub](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-12a)

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