Supreme Court of India
Vijay Kumar Jain v. Standard Chartered Bank & Ors.
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.
1 Supreme Court bench has cited this judgment.
What the Court ordered
We are of the view that the petition and appeal must be allowed and the NCLAT judgment set aside.
Judgment, page 33
From the headnote
Insolvency and Bankruptcy Code, 2016 – ss.21, 24, 25 and 30 – Right of member of suspended Board of Directors to access certain documents particularly the resolution plans – Held: Though the erstwhile Board of Directors are not members of the Com mittee of Creditors (CoC), yet, they have a right to participate in each and every meeting held by the CoC and also have a right to discuss along with members of the CoC all the resolution pl ans that are presented at such meetings under s.25(2)(i)– Members of erst while Board of Directors, being vitally interested in resolution pl ans that may be
Authorities it was built on
Where later benches applied it
Of those, 1 referred to
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