# In the matter of Kotak Mahindra Bank Limited vs. Technology Development Board & Ors.

> SC judgment dated 2024-09-13. Citation: TCN-2024-SC-00032. The case involves a civil appeal before the Supreme Court of India. The appellant, Kotak Mahindra…

- **Court:** SC
- **Order date:** 13 Sept 2024
- **Citation:** TCN-2024-SC-00032
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/kotak-mahindra-bank-limited-vs-technology-development-board-ors-50d0757f

## Summary

### Background

The case involves a civil appeal before the Supreme Court of India. The appellant, Kotak Mahindra Bank Limited, is challenging a decision involving Technology Development Board & Ors. Several interlocutory applications (IAs) are filed related to permission to file additional documents and stay applications. The Insolvency and Bankruptcy Board of India (IBBI) was impleaded as a party-respondent.

## Facts

Kotak Mahindra Bank Limited filed a civil appeal against Technology Development Board & Ors. Several IAs were filed seeking permission to file additional documents and stay applications. The court impleaded the Insolvency and Bankruptcy Board of India (IBBI) as a party-respondent, suggesting the case involves insolvency or bankruptcy issues. The court admitted the appeals, expedited the hearing, and continued the existing stay order from 29.06.2021. The date of the hearing was 13-09-2024.

## Issues and analysis

### Issue 1: Whether the Insolvency and Bankruptcy Board of India (IBBI) should be impleaded as a …

**Ratio:** The court has the power to implead necessary parties to ensure complete and effective

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**Reasoning:** The court allowed the impleadment of IBBI based on the request of the appellant's

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**Interpretation:** Impleading a party is permissible when their involvement is crucial for the

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**Application:** IBBI was impleaded as a party-respondent because the case likely involves

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## Parties

- **Judges:** PAMIDIGHANTAM SRI…; PANKAJ M…
- **Appellants:** Kotak Mahindra…
- **Respondents:** TECHNOLOGY…

## Timeline

- **2021-06-29 — Stay Order…**: An order of stay was…
- **2024-09-13 — Hearing…**: The matters were called…

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