Supreme Court of India · 2020-01-22
MAHARASHTRA SEAMLESS LIMITED vs PADMANABHAN VENKATESH
- Citation / case number
- SC 2019/14331
- Court
- Supreme Court of India
- Petitioner
- MAHARASHTRA SEAMLESS LIMITED
- Respondent
- PADMANABHAN VENKATESH
- Author
- HON'BLE MR. JUSTICE ANIRUDDHA BOSE
- Bench
- HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN, HON'BLE MR. JUSTICE ANIRUDDHA BOSE, HON'BLE MR. JUSTICE V. RAMASUBRAMANIAN
Judgment text excerpt
The Supreme Court addressed the appeals arising from the Corporate Insolvency Resolution Process (CIRP) of United Seamless Tubulaar Private Limited, specifically focusing on the approval of the resolution plan under Section 30(2) of the Insolvency and Bankruptcy Code, 2016. The Court upheld the National Company Law Tribunal's (NCLT) order approving the resolution plan submitted by Maharashtra Seamless Ltd., emphasizing that the plan met all statutory requirements. The Court also clarified the obligations of the corporate debtor to facilitate the implementation of the resolution plan, subject to the outcome of pending appeals.