Supreme Court of India
Glas Trust Company Llc v. Byju Raveendran & 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.
3 Supreme Court benches have cited this judgment.
What the Court ordered
For the above reasons, we allow the present appeal and set aside the impugned judgment of the NCLAT dated 2 August 2024 in the above terms.
Judgment, page 52
From the headnote
Issue for Consideration Whether the appellant, who was not a party to the settlement between the second respondent-BCCI (Operational Creditor) and the Corporate Debtor, has locus in the proceedings before this Court; whether the NCLAT erred in invoking its inherent powers under Rule 11 of the NCLAT Rules 2016 in the presence of a prescribed procedure for withdrawal of Corporate Insolvency Resolution Process (CIRP) and settlement of claims between parties; and without prejudice to the above, whether the NCLAT adequately addressed the objections raised by the appellant, while exercising its
Authorities it was built on
- 2019 Swiss Ribbons Pvt. Ltd. & Anr. v. Union of India & Ors.
- 2021 Ebix Singapore Private Limited v. Committee of Creditors of Educomp Solutions Limited & Anr.
- 2021 Arun Kumar Jagatramka v. Jindal Steel and Power Ltd. & Anr.
- 2021 Indus Biotech Private Limited v. Kotak India Venture (offshore) Fund (earlier Known as Kotak India Venture Limited) & Ors.
- 2022 Ashok G. Rajani v. Beacon Trusteeship Ltd. & Ors
- 2023 Abhishek Singh v. Huhtamaki Ppl Ltd. & Anr.
- 1966 M/s. Ram Chand and Sons Sugar Mills Pvt. Ltd. v. Kanhaya Lal. Bhargava & Ors.
Where later benches applied it
- 2026 Elegna Co-op. Housing and Commercial Society Ltd. v. Edelweiss Asset Reconstruction Company Limited & Anr.
- 2025 Independent Sugar Corporation Ltd. v. Girish Sriram Juneja & Ors.
- 2025 Visa Coke Limited v. M/s Mesco Kalinga Steel Limited
Of those, 2 relied on · 1 referred to
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