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Supreme Court of India

Bank of Baroda & Anr v. Mbl Infrastructures Limited & Ors.

Neutral citation
Reported as [2022] 12 S.C.R. 761
Bench Sanjay Kishan Kaul and M.M. Sundresh JJ.
Decided 18 January 2022

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.

What the Court ordered

We hold that the plan submitted by the Respondent No.3 ought not to have been entertained.

Judgment, page 34

From the headnote

Insolvency and Bankruptcy Code, 2016 – s.29A(h) (as amended by the Act 26 of 2018) – Interpretation and scope of – Held: s.29A(h) creates one more category of persons not being eligible to be a resolution applicant – Other than the persons mentioned thereunder, there may not be any disqualificati on – The word “person” is of a wider import to include a pro moter or a director, as the case may be – The definition of “p erson” as mentioned u/s.3(23) of the Code includes certain ca tegories of persons and thus, there is no such exclusion – It is merely illu strative/ inclusive in nature and

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