Supreme Court of India · 2019-09-25
JIGNESH SHAH vs UNION OF INDIA
- Citation / case number
- SC 2019/12679
- Court
- Supreme Court of India
- Petitioner
- JIGNESH SHAH
- Respondent
- UNION OF INDIA
- Author
- HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN
- Bench
- HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN, HON'BLE MR. JUSTICE SURYA KANT, HON'BLE MR. JUSTICE V. RAMASUBRAMANIAN
Judgment text excerpt
The Supreme Court addressed Writ Petition (Civil) No.455 of 2019 concerning the admission of a winding-up petition against La-Fin Financial Services Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Court held that the National Company Law Tribunal's order was valid as La-Fin had failed to fulfill its obligations under a Letter of Undertaking with IL&FS Financial Services Ltd. The Court admitted the appeal and condoned the delay, affirming the NCLT's jurisdiction in the matter.