Supreme Court of India

Maharashtra Seamless Limited v. Padmanabhan Venkatesh & Ors.

Neutral citation
Reported as [2020] 2 S.C.R. 1157
Bench Rohinton Fali Nariman, Aniruddha Bose and V. Ramasubramanian JJ.
Decided 22 January 2020

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.

12 Supreme Court benches have cited this judgment.

From the headnote

Insolvency and Bankruptcy Code, 2016: s. 31 – Corporate Insolvency Resolution Process (CI RP) – Resolution plan which provided upfront payment of Rs. 47 7 crores was approved by the Adjudicating Authority – Appella te Tribunal directed the successful resolution applicant to increase the upfront payment amount of Rs. 477 crores to Rs. 597.54 crores i.e. equal to average liquidation value – Appeal to Supreme Court – Held: There is no provision in the Code or the Regulations which requires that bid of a resolution applicant has to match liquidation val ue – The Adjudicating Authority has not

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