Supreme Court of India
Chitra Sharma and Ors. 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.
7 Supreme Court benches have cited this judgment.
What the Court ordered
We are of the view that it is but appropriate and to do complete justice to secure the interests of all concerned that the CIRP should be revived and CoC reconstituted as per the amended provisions to include the home buyers.
Judgment, page 36
From the headnote
Insolvency and Bankruptcy Code, 2016 – ss.3(30), 3(31), 5(7), 5(8), 7, 17, 18, 20, 21(6) and 21(6A)(b) – JIL, a high-tech township developer defaulted in repayment of its dues to IDBI bank – Bank sought the initiation of a Corporate Insolvency Resolution Process (CIRP) against JIL – For submission of claims, JIL separated home buyers from financial and operational creditors – Writ Petition by home buyers who pleaded that their interest was getting ignored as only financial and operational creditors were recognized by CIRP – They further pleaded for pro-rata disbursement of the amount…
Authorities it was built on
- 1981 R.K. Garg Etc. Etc. v. Union of India & Ors. Etc.
- 1992 Peerless General Finance and Investment Co. Ltd. and Anr v. Reserve Bank of India
- 1995 Shantistar Builders v. Narayan Khimalal Gotame and Ors. Etc.
- 2016 Tamil Nadu Generation and Distribution Corporation Ltd. (tangedco) Rep. by its Chairman Managing Director and Anr. Etc. v. Csepdi - Trishe Consortium, Rep. by its Managing Director & Anr.
Where later benches applied it
- 2021 Arun Kumar Jagatramka v. Jindal Steel and Power Ltd. & Anr.
- 2026 Elegna Co-op. Housing and Commercial Society Ltd. v. Edelweiss Asset Reconstruction Company Limited & Anr.
- 2022 Bank of Baroda & Anr v. Mbl Infrastructures Limited & Ors.
- 2021 National Spot Exchange Limited v. Mr. Anil Kohli, Resolution Professional for Dunar Foods Limited
- 2021 Jaypee Kensington Boulevard Apartments Welfare Association & Ors. v. Nbcc (india) Ltd. & Ors.
- 2021 Manish Kumar v. Union of India and Another
- 2025 Palm Groves Cooperative Housing Society Ltd. v. M/s Magar Girme and Gaikwad Associates
Of those, 1 relied on · 5 referred to · 1 mentioned
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