Supreme Court of India · 2021-09-15
K.N RAJAKUMAR vs V NAGARAJAN
- Citation / case number
- SC 2021/12177
- Court
- Supreme Court of India
- Petitioner
- K.N RAJAKUMAR
- Respondent
- V NAGARAJAN
- Author
- HON'BLE MR. JUSTICE L. NAGESWARA RAO
- Bench
- HON'BLE MR. JUSTICE L. NAGESWARA RAO, HON'BLE MR. JUSTICE B.R. GAVAI, HON'BLE MRS. JUSTICE B.V. NAGARATHNA
Judgment text excerpt
The Supreme Court addressed two appeals concerning the Corporate Insolvency Resolution Process (CIRP) of M/s Aruna Hotels Ltd. The court upheld the decisions of the National Company Law Tribunal and the National Company Law Appellate Tribunal, which permitted the withdrawal of CIRP and dismissed the challenges by the suspended director and ex-employee. The court emphasized the importance of adhering to the procedural norms established under the Insolvency and Bankruptcy Code.