Supreme Court of India
Piramal Capital and Housing Finance Limited (formerly Known as Dewan Housing Finance Corporation Limited) v. 63 Moons Technologies Limited & Others
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What the Court ordered
In view of the aforesaid discussion and findings, all the Appeals in this category deserve to be allowed by setting aside the impugned order dated 27.01.2022 passed by the NCLAT and restoring the order dated 07.06.2021 passed by the NCLT in the Plan Approval Order. (VII) ANALYSIS IN THE SECOND CATEGORY OF APPEALS.
Judgment, page 81
From the headnote
Issue for Consideration Whether Resolution Plan-RP approved by Committee of Creditors-CoC and NCLT was in contravention of provisions of any law requiring NCLAT to exercise its jurisdiction u/s.61 of the Insolvency and Bankruptcy Code, 2016; whether the NCLAT should have entertained the appeals filed by the respondents-63 Moons u/s.61 of the Code and tinkered with the RP approved by the CoC and the NCLT; whether NCLAT was correct in dismissing appeals by FD Holders challenging the distribution mechanism whereby full amount was not reimbursed; and whether ex-promoters/directors have a right to
Authorities it was built on
- 2019 Committee of Creditors of Essar Steel India Limited through Authorised Signatory v. Satish Kumar Gupta & Ors.
- 2019 K. Sashidhar v. Indian Overseas Bank & Ors.
- 2018 Arcelormittal India Private Limited v. Satish Kumar Gupta & Ors.
- 2017 Macquarie Bank Limited v. Shilpi Cable Technologies Ltd.
- 2020 Maharashtra Seamless Limited v. Padmanabhan Venkatesh & Ors.
- 2021 Ghanashyam Mishra and Sons Private Limited through the Authorized Signatory v. Edelweiss Asset Reconstruction Company Limited through the Director & Ors.
- 2019 M/s Embassy Property Developments Pvt. Ltd.v. State of Karnataka & Ors. v. State of Karnataka & Ors
- 2021 Ebix Singapore Private Limited v. Committee of Creditors of Educomp Solutions Limited & Anr.
- 2021 Jaypee Kensington Boulevard Apartments Welfare Association & Ors. v. Nbcc (india) Ltd. & Ors.
- 2023 M. K. Rajagopalan v. Dr. Periasamy Palani Gounder & Anr
- 2019 Vijay Kumar Jain v. Standard Chartered Bank & Ors.
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