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

> SC judgment dated 2021-06-29. Citation: TCN-2021-SC-00035. The case arises out of an impugned final judgment and order dated 05-04-2021 in CAAT(I) No.…

- **Court:** SC
- **Order date:** 29 Jun 2021
- **Citation:** TCN-2021-SC-00035
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/kotak-mahindra-bank-limited-vs-technology-development-board-ors-98f43131

## Summary

### Background

The case arises out of an impugned final judgment and order dated 05-04-2021 in CAAT(I) No. 731/2020 passed by the National Company Law Appellate Tribunal (NCLAT). Kotak Mahindra Bank Limited filed a civil appeal against the NCLAT's order.

## Facts

Kotak Mahindra Bank Limited filed a civil appeal against the final judgment and order dated 05-04-2021 in CAAT(I) No. 731/2020 passed by the National Company Law Appellate Tribunal. The Supreme Court heard the appeal on 29-06-2021. The court granted permission to file the appeal, issued a notice, and stayed the operation of the impugned judgment and order passed by the National Company Law Appellate Tribunal. Technology Development Board & Ors. are the respondents.

## Issues and analysis

### Issue 1: Whether permission to file …

**Ratio:** The court has the discretion to grant permission to file an appeal based on the merits of

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**Reasoning:** The court, after hearing the counsel, found sufficient grounds to grant permission to

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**Interpretation:** This indicates the court believed the appeal had a reasonable chance of success

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**Application:** The court applied its discretion to the facts presented and determined that the

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## Parties

- **Judges:** S. ABDUL…; V. RAMASUBR…
- **Appellants:** Kotak Mahindra…
- **Respondents:** TECHNOLOGY…

## Timeline

- **2021-04-05 — Impugned…**: Final judgment and order passed by the National Company Law Appellate Tribunal in CAAT(I)…
- **2021-06-29 — Hearing…**: The Supreme Court heard…

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