Content Provider | Supreme Court of India |
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e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | 2016 Insolvency and Bankruptcy Code Prepared by Resolution Professional CRIP Information Memorandum |
Content Type | Text |
Resource Type | Law Order |
Jurisdiction | India |
Act(s) Referred | Insolvency and Bankruptcy Code, 2016 (31 of 2016) |
Case Type | Appeal |
Court | Supreme Court of India |
Disposal Nature | Appeal Disposed Off |
Headnote | Insolvency and Bankruptcy Code, 2016:Corporate Insolvency Resolution Process – InformationMemorandum – Prepared by Resolution Professional – Appellant-creditor’s name was put in the ‘List of Other Creditors’ and was notreflected in ‘Claims of Operational Creditors’ – Appellant’s claimthat its name should have been reflected in ‘Claims of OperationalCreditors’ – Held: Since the claim of the appellant is still pendingadjudication before the Arbitrator, it has rightly been described inthe memorandum as other creditors claim – The purpose ofInformation Memorandum is only to provide relevant informationregarding financial position of the Company – It does not decidethe claim – The Resolution Professional has no authority to acceptor disallow the claims – Appellant’s claim would not get extinguishedunless it is adjudicated upon by a competent forum or by operationof law – Appellant can take recourse to appropriate remedy, if it isaggrieved with the final resolution plan – Matter disposed of. |
Judge | N/A |
Neutral Citation | 2020 INSC 642 |
Petitioner | Ntpc Ltd. (simhadri Project) |
Respondent | Rajiv Chakraborty |
SCR | [2020] 13 S.C.R. 1090 |
Judgement Date | 2020-11-16 |
Case Number | 2798 |
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