E.M. Najeeb Ellias Mohammed filed a civil appeal against Union Bank of India challenging an impugned judgment and seeking a stay application. The Supreme Court heard the appeal on April 22, 2024. The court directed the appellant to deposit Rs. 18.70 crores, with Rs. 5 crores to be deposited by the next day and the balance in equal monthly installments within five months, as a condition for staying the order passed by the NCLT, Kochi Bench, Kochi dated December 22, 2023. The appellant is restrained from creating encumbrances or third-party rights on the mortgaged immovable properties. The respondent-Bank accepted the notice through its counsel, waiving the service.

E.M. Najeeb Ellias Mohammed filed a civil appeal against Union Bank of India challenging an impugned judgment and seeking a stay application. The Supreme Court heard the appeal on April 22, 2024. The court directed the appellant to deposit Rs. 18.70 crores, with Rs. 5 crores to be deposited by the next day and the balance in equal monthly installments within five months, as a condition for staying the order passed by the NCLT, Kochi Bench, Kochi dated December 22, 2023. The appellant is restrained from creating encumbrances or third-party rights on the mortgaged immovable properties. The respondent-Bank accepted the notice through its counsel, waiving the service.