# In the matter of Manganlal Daga HUF & Anr. vs. Jag Mohan Daga & Ors.

> SC judgment dated 2023-01-16. Citation: TCN-2023-SC-00102. This is a Civil Appeal arising out of a final judgment and order dated 31-10-2022 passed by the…

- **Court:** SC
- **Order date:** 16 Jan 2023
- **Citation:** TCN-2023-SC-00102
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/manganlal-daga-huf-anr-vs-jag-mohan-daga-ors-509e70bb

## Summary

### Background

This is a Civil Appeal arising out of a final judgment and order dated 31-10-2022 passed by the National Company Law Appellate Tribunal in CAAT(I) No. 848/2022. The application seeks permission to file the Civil Appeal.

## Facts

The case involves a Civil Appeal against a final judgment and order passed by the National Company Law Appellate Tribunal (NCLAT). The NCLAT's decision was based on the Vidarbha Industries Power Limited Vs Axis Bank Limited case. The appellant argues that this decision contradicts established legal principles, particularly those established in Innoventive Industries Ltd Vs ICICI Bank and E S Krishnamurthy Vs Bharath Hi-Tech Builders Pvt Ltd. The Solicitor General of India supports this argument, stating that the NCLAT's decision could weaken the Insolvency and Bankruptcy Code. The court allowed the application seeking permission to file the Civil Appeal and the applications for impleadment. Notice was issued to the respondents, with one respondent waiving service.

## Issues and analysis

### Issue 1: Whether the decision in Vidarbha Industries Power Limited Vs Axis Bank Limited contradicts …

**Ratio:** The ratio is based on the interpretation of precedents set by Innoventive Industries Ltd

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**Reasoning:** The court is considering whether the NCLAT's reliance on Vidarbha Industries Power

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**Interpretation:** The interpretation involves comparing the legal principles established in

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**Application:** The application involves analyzing the specific facts of the case in relation

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## Parties

- **Judges:** THE CHIEF J…; Pamidighantam Sri…; +1 more
- **Appellants:** MAGANLAL DA…
- **Respondents:** JAG MOHAN…

## Timeline

- **2022-10-31 — Impugned Judgm…**: Date of the final judgment and order passed by the National Company Law Appellate…
- **2023-01-16 — Hearing…**: The petition was called…

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