# In the matter of Peter Beck and Peter Vermoegensverwaltung Ltd. Vs. Edelweiss Asset Reconstruction Company Ltd. & Anr. ETC. Civil Appeal No(s) 1305-1306 of 2022

> SC judgment dated 2022-02-28. Citation: TCN-2022-SC-00068. The case involves a civil appeal against an order of the National Company Law Appellate Tribunal…

- **Court:** SC
- **Order date:** 28 Feb 2022
- **Citation:** TCN-2022-SC-00068
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/peter-beck-and-peter-vermoegensverwaltung-ltd-vs-edelweiss-asset-reconstruction-ad1e291b

## Summary

### Background

The case involves a civil appeal against an order of the National Company Law Appellate Tribunal (NCLAT). The appellant sought compliance with the NCLAT order, but the learned counsel submitted that compliance was not possible.

## Facts

Peter Beck and Peter Vermoegensverwaltung Ltd. filed a civil appeal against Edelweiss Asset Reconstruction Company Ltd. & Anr. The appeal challenged an order by the National Company Law Appellate Tribunal (NCLAT) dated 05.01.2022. The appellant's counsel indicated that compliance with the NCLAT order was not possible. The Supreme Court heard the arguments and ultimately dismissed the civil appeals. However, the court granted liberty to initiate a fresh corporate insolvency resolution process (CIRP).

## Issues and analysis

### Issue 1: Whether the Supreme Court should interfere with the …

**Ratio:** The Supreme Court has the discretion to interfere with orders passed by lower courts or

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**Reasoning:** The Supreme Court stated that it was not inclined to interfere with the order impugned

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**Interpretation:** This indicates that the Supreme Court found no compelling reason to overturn

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**Application:** In this case, the Supreme Court applied its discretion not to interfere with

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## Parties

- **Judges:** Ajay Ra…; ABHAY S…
- **Appellants:** PETER BECK AND…
- **Respondents:** Edelweiss Asset…

## Timeline

- **2022-01-05 — NCLAT Or…**: The National Company Law Appellate Tribunal (NCLAT) issued an order that was later…
- **2022-02-28 — Supreme Court Hearing…**: The Supreme Court heard the civil appeals and dismissed them. The court granted liberty…

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