Supreme Court of India
Moser Baer Karamchari Union Thr. President Mahesh Chand Sharma v. Union of India and 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.
What the Court ordered
In view of the above and for the reasons stated above, t he writ petition(s) lack merits and the same deserve to be dismissed and are accordingly dismissed.
Judgment, page 50
From the headnote
Companies Act, 2013: s. 327(7) – Constitutional val idity – Held: s. 327(7) provides that ss. 326 and 327 shall not be applicable in the event of liquidation under the IBC, in view of the enactment of IBC and it applies with respect to the liquidation of a company under the IBC, thus, s. 327(7) cannot be said to be arbitrary and /or violative of Art. 21 – In case of liquidation of a company under IBC, the provisions of s. 53 IBC and other provision s of the IBC shall be applicable as the company is ordered to be li quidated or wound up under the provisions of IBC – Distribution of the assets
Authorities it was built on
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- 2019 Committee of Creditors of Essar Steel India Limited through Authorised Signatory v. Satish Kumar Gupta & Ors.
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- 2021 Ghanashyam Mishra and Sons Private Limited through the Authorized Signatory v. Edelweiss Asset Reconstruction Company Limited through the Director & Ors.
- 2000 Allahabad Bank v. Canara Bank and Anr.
- 2021 Arun Kumar Jagatramka v. Jindal Steel and Power Ltd. & Anr.
- 2005 Andhra Bank v. Official Liquidator and Anr.
- 2011 Employees Provident Fund Commissioner v. O.L. of Esskay Pharmaceuticals Limited
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