# In the matter of Gaurang Nipinbhai Nagarsheth, Ex-Director-Shareholder of Poggenamp Nagarsheth Powertronics Pvt. Ltd. Vs. POSCO-

> SC judgment dated 2020-10-12. Citation: TCN-2020-SC-00021. The case involves a Civil Appeal filed against an order passed by the National Company Law…

- **Court:** SC
- **Order date:** 12 Oct 2020
- **Citation:** TCN-2020-SC-00021
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/gaurang-nipinbhai-nagarsheth-ex-director-shareholder-of-poggenamp-nagarsheth-pow-a40ac9b9

## Summary

### Background

The case involves a Civil Appeal filed against an order passed by the National Company Law Appellate Tribunal (NCLAT) in Company Appeal (AT) (Insolvency) No 214 of 2020.

## Facts

Gaurang Nipinbhai Nagarsheth, the ex-director/shareholder of Poggenamp Nagarsheth Powertronics Pvt Ltd, filed a Civil Appeal against POSCO-India Pune Processing Center Pvt Ltd and Another. The appeal challenged an order by the National Company Law Appellate Tribunal (NCLAT) in Company Appeal (AT) (Insolvency) No 214 of 2020. The Supreme Court dismissed the Civil Appeal, indicating agreement with the NCLAT's decision. The relevance of the facts lies in the challenge to the NCLAT's order concerning insolvency proceedings.

## Issues and analysis

### Issue 1: Whether the Supreme Court should interfere with the impugned order dated 20 August 2020 passed by …

**Ratio:** The Supreme Court generally refrains from interfering with orders of lower appellate

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**Reasoning:** The Supreme Court found no reason to interfere with the impugned order, implying that the

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**Interpretation:** This indicates the Supreme Court's deference to the expertise of specialized

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**Application:** The ratio was applied to the specific facts of the case, leading the Supreme

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## Parties

- **Judges:** Dr Dhananjaya Y…; Indu Mal…; +1 more
- **Appellants:** Gaurang Nipinbhai…
- **Respondents:** Poggenamp…; POSCO-India Pune…
- **Other parties:** Affir…

## Timeline

- **2020-08-20 — NCLAT Or…**: The National Company Law Appellate Tribunal (NCLAT) passed an order in Company Appeal…
- **2020-10-12 — Supreme Court…**: The Supreme Court heard…

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