# In the matter of Malayan Banking Berhad Vs. Ushdev International Ltd. & Ors. Special Leave Petition (Civil) Diary No(s). 5960-2020

> SC judgment dated 2020-10-15. Citation: TCN-2020-SC-00017. The case arises out of an impugned final judgment and order dated 2019-09-16 in RPL No.38/2019…

- **Court:** SC
- **Order date:** 15 Oct 2020
- **Citation:** TCN-2020-SC-00017
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/malayan-banking-berhad-vs-ushdev-international-ltd-ors-special-leave-petition-566e0f51

## Summary

### Background

The case arises out of an impugned final judgment and order dated 2019-09-16 in RPL No.38/2019 2019-07-08 in NOM No.19/2016 passed by the High Court Of Judicature At Bombay. The petitioner claims that the High Court erred in its interpretation of Section 14(1)A of the Insolvency and Bankruptcy Code, 2016.

## Facts

Malayan Banking Berhad filed a Special Leave Petition (Civil) against Ushdev International Ltd. & Ors. The petition challenges a final judgment and order dated 2019-09-16 passed by the High Court of Judicature at Bombay in RPL No.38/2019 dated 2019-07-08 in NOM No.19/2016. The petitioner argues that the High Court erred in interpreting Section 14(1)A of the Insolvency and Bankruptcy Code, 2016, claiming the moratorium provision only applies to suits filed against the corporate debtor, not by it. The suit in question was filed by the corporate debtor.

## Issues and analysis

### Issue 1: Whether the High Court erred in its interpretation of Section 14(1)A of the Insolvency and …

**Ratio:** Section 14(1)A of the Insolvency and Bankruptcy Code, 2016, provides for a moratorium in

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**Reasoning:** The petitioner's counsel argues that the High Court's interpretation is incorrect because

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**Interpretation:** The interpretation of Section 14(1)A hinges on whether the moratorium applies

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**Application:** The petitioner argues that since the suit was filed 'by' the corporate debtor,

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## Parties

- **Judges:** L. Nageswa…; HEMANT…; +1 more
- **Appellants:** MALAYAN BANKING…
- **Respondents:** USHDEV INTERNATION…
- **Advocates:** Amit S…; Ajay M…; +1 more

## Timeline

- **2019-09-16 — Final Judgment…**: Date of the impugned final judgment and order passed by the High Court of Judicature at…
- **2019-07-08 — RPL No.38…**: Reference to RPL No.38/2019…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14(1) — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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