# In the matter of Ebix Singapore Pte Ltd. vs. Committee of Creditors of Educomp Solutions Limited & Anr.

> SC judgment dated 2023-08-18. Citation: TCN-2023-SC-00051. The Supreme Court of India is hearing a Miscellaneous Application arising out of a final judgment…

- **Court:** SC
- **Order date:** 18 Aug 2023
- **Citation:** TCN-2023-SC-00051
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/ebix-singapore-pte-ltd-vs-committee-of-creditors-of-educomp-solutions-limited-an-ba6bacd0

## Summary

### Background

The Supreme Court of India is hearing a Miscellaneous Application arising out of a final judgment and order dated 2021-09-13 passed by the Supreme Court of India in C.A. No. 3224/2020. The National Company Law Tribunal (NCLT) heard the application for approval of the resolution plan for Educomp Solutions Limited for as many as 35 days, but final orders have not been passed. On 2023-08-07, the proceedings were heard for several hours, after which they were posted to 2023-08-29, but in the meantime, one of the members of the Bench has been transferred to the Bench of the NCLT at Chandigarh.

## Facts

EBIX Singapore PTE LTD. filed a petition against the Committee of Creditors of Educomp Solutions Limited & Anr. regarding a matter arising out of a final judgment and order dated 2021-09-13. The National Company Law Tribunal (NCLT) has been considering the application for approval of the resolution plan for Educomp Solutions Limited for an extended period (35 days), but final orders have not been passed. Proceedings were heard on 2023-08-07, but one of the members of the NCLT bench was transferred to Chandigarh. The Supreme Court is now involved due to delays in the resolution process.

## Issues and analysis

### Issue 1: Whether the NCLT should expedite the approval of the resolution plan for Educomp Solutions Limited …

**Ratio:** The Insolvency and Bankruptcy Code (IBC) specifies timelines for the resolution process

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**Reasoning:** The court emphasizes the importance of adhering to the timelines specified in the

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**Interpretation:** The IBC's timelines are interpreted as mandatory guidelines that must be

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**Application:** The court directs the NCLT to dispose of the application for approval of the

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## Parties

- **Judges:** THE CHIEF J…; J.B. PARD…; +1 more
- **Appellants:** Ebix Singapore…
- **Respondents:** Educomp Solutions…; COMMITTEE OF…
- **Advocates:** Abhishek…; Kritya…; +9 more

## Timeline

- **2021-09-13 — Original Judgment and…**: Final judgment and order passed by the…
- **2023-08-07 — NCLT Proce…**: Proceedings were heard for several hours,…

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