Supreme Court of India
Macquarie Bank Limited v. Shilpi Cable Technologies Ltd.
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.
13 Supreme Court benches have cited this judgment.
What the Court ordered
We hold that the conditions required by Rule 184 of the Rules must be impliedly imported in Section 438 of the Code so as to form the main guidelines which have to be followed while the court exercises its power under Section 438 of the Code in offences contemplated by Rule 184 of the Rules.
Judgment, page 44
From the headnote
Insolvency and Bankntptcy Code, 2016: s.9(3)(c) - Provision in relation to operational debt, contained in s.9(3)(c) of the Code if mandatory or directory - Held: Sub- clause (c) of s.9(3) makes it clear that a copy of the certificate from the financial institution maintaining accounts of the operational creditor confirming that .there is no payment of an unpaid operational debt by the corporate debtor is certainly not a condition precedent to trigger the insolvency process under the code - The expression "confirming" makes it clear that this is on~y a piece of evidence, albeit a very
Authorities it was built on
- 2000 Kunhayammed and Ors v. State of Kerala and Anr.
- 1991 Byram Pestonfl Gariwala v. Union Bank of India and Ors.
- 2017 Mobilox Innovations Private Limited v. Kirusa Software Private Limited
- 2017 Ms. Eera through Dr. Manjula Krippendorf v. State (govt. of Nct of Delhi) & Anr.
- 2006 Raghunath Rai Bareja and Anr. v. Punjab National Bank and Ors.
- 1960 The State of Uttar Pradesh and Others v. Babu Ram Upadhya
- 1979 Desh Bandhu Gupta & Co. & Ors. v. Delhi Stock Exchange Assn. Ltd.
- 2002 Ex. Capt. Harish Uppal v. Union of India and Anr.
- 2001 Harshad S. Mehta and Ors. v. The State of Maharashtra
- 1963 Pandit Ukha Kolhe v. The State of Maharashtra
- 1961 Mahanth Ram Das v. Ganga Das.
- 2006 M/s. Ispat Industries Ltd. v. Commissioner of Customs, Mumbai
- 2010 State of Karnataka v. Azad Coach Builders Pvt.ltd. & Anr.
- 1988 Madan & Co. v. Wazir Jaivir Chand
- 1994 State of Haryana and Anr. v. Raghubir Dayal
- 1972 The Management of D.T.U. v. Shri B. B. L. Hajelay & Anr.
Where later benches applied it
- 2023 Sabarmati Gas Limited v. Shah Alloys Limited
- 2019 Municipal Corporation of Greater Mumbai (mcgm) v. Abhilash Lal & Ors.
- 2019 Committee of Creditors of Essar Steel India Limited through Authorised Signatory v. Satish Kumar Gupta & Ors.
- 2021 P. Mohanraj & Ors. v. M/s. Shah Brothers Ispat Pvt. Ltd.
- 2020 Anuj Jain Interim Resolution Professional for Jaypee Infratech Limited v. Axis Bank Limited Etc. Etc.
- 2019 Duncans Industries Ltd. v. A. J. Agrochem
- 2019 The State of Uttar Pradesh v. Aman Mittal & Anr.
- 2025 Piramal Capital and Housing Finance Limited (formerly Known as Dewan Housing Finance Corporation Limited) v. 63 Moons Technologies Limited & Others
- 2021 Aman Lohia v. Kiran Lohia
- 2020 Sri Nilanjan Bhattacharya v. The State of Karanataka and Others
- 2019 Dharani Sugars and Chemicals Ltd. v. Union of India & Ors.
- 2018 Mrs. Kanika Goel v. State of Delhi through S.H.O. and Anr.
- 2017 Prateek Gupta v. Shilpy Gupta & Ors.
Of those, 3 relied on · 4 referred to · 6 mentioned
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