# Gluckrich Capital Pvt. Ltd. vs. The State of West Bengal & Ors. Miscellaneous  Application No. 1302 Of 2023 (IA. No. 102537 OF 2023)

> SC judgment dated 2023-05-19. Citation: TCN-2023-SC-00070. Gluckrich Capital Pvt. Ltd., an unsecured financial creditor of Leading Hotels Limited (LHL), which…

- **Court:** SC
- **Order date:** 19 May 2023
- **Citation:** TCN-2023-SC-00070
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/gluckrich-capital-pvt-ltd-vs-the-state-of-west-bengal-ors-miscellaneous-applicat-19fb2f77

## Summary

### Background

Gluckrich Capital Pvt. Ltd., an unsecured financial creditor of Leading Hotels Limited (LHL), which is facing insolvency proceedings under the Insolvency and Bankruptcy Code, 2016, filed a Special Leave Petition (Criminal) Diary No. 6732 of 2023, challenging an interim order dated 30.11.2022 passed by Delhi High Court extending the transit anticipatory bail granted to the suspended directors of LHL. The Special Leave Petition was dismissed on 24.02.2023 because the applicant had no locus in the matter, as it was neither the informant nor a party to the proceedings before the High Court and was unconnected with the first Information Report lodged by the financial creditors. The applicant then filed an application seeking clarification of the dismissal order.

## Facts

Gluckrich Capital Pvt. Ltd., an unsecured financial creditor of Leading Hotels Limited (LHL), initiated a Special Leave Petition (Criminal) Diary No. 6732 of 2023, challenging an interim order by the Delhi High Court that extended anticipatory bail to LHL's suspended directors. LHL is undergoing insolvency proceedings under the IBC, 2016. The Supreme Court dismissed the initial petition on 24.02.2023 due to Gluckrich's lack of locus standi, as they were neither the informant nor a party to the High Court proceedings. Gluckrich then sought clarification, arguing that the dismissal should not impede their ability to persuade the Resolution Professional to pursue recovery under Section 66 of the IBC against parties involved in fraudulent activities related to the

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## Issues and analysis

### Issue 1: Whether the dismissal of the Special Leave Petition should prevent the applicant from persuading …

**Ratio:** The endeavor of the applicant herein is to indirectly get over with the judgment and

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**Reasoning:** The Supreme Court found that the applicant's attempt to seek clarification was an

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**Interpretation:** The Court interpreted the applicant's request for clarification as an attempt

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**Application:** The Court applied this reasoning to the specific facts by determining that the

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## Parties

- **Judges:** KRISHNA M…; Sanjay…
- **Appellants:** GLUCKRICH CAPITAL…
- **Respondents:** Leading Hotels…; THE STATE OF WEST…
- **Other parties:** 7th Edition…; Transit anticipato…; +8 more

## Timeline

- **2022-11-30 — Interim Order by Delhi…**: Delhi High Court passed an interim order extending the transit anticipatory bail granted…
- **2023-01-18 — Judgment and Order by…**: Tripura High Court passed a judgment and order in WP(C) (PIL) No. 04 of 2023 in the case…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 66 — Fraudulent trading or wrongful trading](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-66)

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