Supreme Court of India · 2021-04-22

SANDEEP KHAITAN vs JSVM PLYWOOD INDUSTRIES LTD.

Citation / case number: SC 2021/4492
Court: Supreme Court of India
Petitioner: SANDEEP KHAITAN
Respondent: JSVM PLYWOOD INDUSTRIES LTD.
Author: HON'BLE THE CHIEF JUSTICE
Bench: HON'BLE THE CHIEF JUSTICE, HON'BLE MS. JUSTICE INDIRA BANERJEE, HON'BLE MR. JUSTICE K.M. JOSEPH

Judgment text excerpt

The Supreme Court addressed an appeal concerning the unfreezing of bank accounts of JSVM Plywood Industries Ltd. by the High Court of Guwahati. The court examined the implications of the moratorium under the Insolvency and Bankruptcy Code, 2016, and the rights of operational creditors during insolvency proceedings. The court upheld the High Court's decision to allow the operation of the bank account subject to conditions, emphasizing the need for balancing creditor rights and insolvency regulations.