Supreme Court of India
M/s. Ngef Ltd. v. M/s. Chandra Developers Pvt. Ltd. and Anr.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
5 Supreme Court benches have cited this judgment.
What the Court ordered
We are of the opinion that the impugned B judgment of the High Court cannot be sustained.
Judgment, page 30
From the headnote
Sick Industrial Companies (Special Provisions) Act, 1985 (SICA) Section 20(4)-Companies Act, 1956-Sections 443, 446, 447, 529- , 536- Recommendation by Board of industrial and Financial Reconstruction (BIFR) to High Court to wind up a sick industrial company. Observation of BIFR that direction of sale of its assets should also be sought from High Court-legality of-Held: BJFR and High Court do not · have concurrent jurisdiction to sell the assets-BIFR alone controlled the assets and had power to dispose them till winding up order was passed by High Court, and for this purpose leave of latter
Authorities it was built on
Where later benches applied it
- 2023 Modi Rubber Limited v. Continental Carbon India Ltd.
- 2016 M/s. Madura Coats Limited v. M/s. Modi Rubber Ltd. & Anr.
- 2016 M/s Madras Petrochem Ltd. & Anr v. Bifr& Ors.
- 2012 Raheja Unviersal Limited v. Nrc Limited & Ors.
- 2026 Bhartiya Mazdoor Sangh, Uttar Pradesh and Another v. The State of Uttar Pradesh
Of those, 1 relied on · 3 referred to · 1 mentioned
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