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Supreme Court of India

Dena Bank (now Bank of Baroda) v. C. Shivakumar Reddy and Anr.

Neutral citation
Reported as [2021] 8 S.C.R. 1061
Bench Indira Banerjee and V. Ramasubramanian JJ.
Decided 4 August 2021

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

For the reasons discussed above, the impugned judgment and order is unsustainable in law and facts.

Judgment, page 79

From the headnote

Insolvency and Bankruptcy Code, 2016: s. 7 – Initiation of corporate insolvency resolutio n process by financial creditor – Petition u/s. 7, if barred by li mitation – On facts, appellant Bank sanctioned term loan and letter of cr edit cum buyer’s credit in favour of corporate debtor – Howe ver, in 2013 the corporate debtor defaulted in repayment of its dues to the bank and loan amount declared as non-performing asset-NPA –Issuan ce of notice to corporate debtor in 2014, to clear its dues – Pursuant thereto, in 2015 Bank filed application for recover y of the outstanding dues – In 2017, Debt

Authorities it was built on

Where later benches applied it

Of those, 1 referred to

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