# In the matter of In the matter of Reliance Communications Limited Vs State Bank of India WP (C) 845-2018 with Conmt Pet (C) No.2212-2213-2018 others

> SC judgment dated 2017-12-14. Citation: TCN-2017-SC-00004. The case involves a writ petition filed by Reliance Communication Limited & Ors. against State Bank…

- **Court:** SC
- **Order date:** 14 Dec 2017
- **Citation:** TCN-2017-SC-00004
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/reliance-communications-limited-vs-state-bank-of-india-wp-c31a2036

## Summary

### Background

The case involves a writ petition filed by Reliance Communication Limited & Ors. against State Bank of India & Ors. along with a contempt petition. The petitions were called for hearing on December 14, 2018.

## Facts

Reliance Communication Limited & Ors. filed a writ petition against State Bank of India & Ors. A contempt petition was also filed in relation to the same matter. During the hearing on December 14, 2018, Mr. Kapil Sibal, representing Reliance, stated that the preference shares of Reliance Reality Ltd. reflected in the 2017-2018 financial statement, would not be redeemed without prior permission from the Department of Telecommunication (DoT). Mr. P.S. Narsimha, Additional Solicitor General, assured the court that upon this statement, a No Objection Certificate (NOC) would be issued within two days. This assurance was crucial for the court's decision.

## Issues and analysis

### Issue 1: Whether the preference shares of Reliance Reality Ltd. can be redeemed without the prior permission …

**Ratio:** The principle of conditional redemption is applied, where the redemption of financial

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**Reasoning:** The court relied on the statement of Mr. Kapil Sibal, senior counsel, that the preference

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**Interpretation:** This issue involves the interpretation of financial regulations and the

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**Application:** The ratio is applied to the specific facts of the case, where the redemption of

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## Parties

- **Judges:** ROHINTON FALI…; NAVIN S…
- **Appellants:** Reliance Communica…
- **Respondents:** Reliance Reality…; State Bank of…

## Timeline

- **2018-12-14 — Hearing…**: The petitions were…
- **2017-01-01 — Financial Statement…**: Financial statement of 2017-2018 of…

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