Supreme Court of India
Victory Iron Works Ltd. v. Jitendra Lohia & Anr
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.
1 Supreme Court bench has cited this judgment.
What the Court ordered
We are of the considered view that the impugned orders do not call for any interference.
Judgment, page 25
From the headnote
Insolvency and Bankruptcy Code, 2016 – s.25(2)(a) – IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 – Regulation 30 – Corporate Debtor and one ‘EP’ (appellant in CA No.1782 of 2021) entered into an MoU – Corporate Debtor financed the purchase of the property in question by ‘EP’ for 40% of the share capital in ‘EP’ and a Joint Development Agreement with it in respect of the property – Actual physical possession of the property was also handed over to the Corporate Debtor which factum was confirmed in two subsequent MoUs – Later, Corporate Debtor also executed a…
Authorities it was built on
- 2019 M/s Embassy Property Developments Pvt. Ltd.v. State of Karnataka & Ors. v. State of Karnataka & Ors
- 2021 Tata Consultancy Services Limited v. Vishal Ghisulal Jain, Resolution Professional, Sk Wheels Private Limited
- 2018 Sushil Kumar Agarwal v. Meenakshi Sadhu & Ors.
- 2020 Mr. Rajendra K. Bhutta v. Maharashtra Housing and Area Development Authority through its Chairman & Anr.
Where later benches applied it
Of those, 1 mentioned
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