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december 2024

Supreme Court of India · 2024-12-20

China Development Bank vs Doha Bank Q.P.S.C

Citation / case number
2024 INSC 1029
Court
Supreme Court of India
Petitioner
China Development Bank
Respondent
Doha Bank Q.P.S.C
Author
Abhay S. Oka
Bench
Pankaj Mithal, Abhay S Oka

Judgment text excerpt

The Supreme Court addressed the classification of appellants as 'Financial Creditors' under Section 5(7) of the Insolvency and Bankruptcy Code, 2016 (IBC). The Court held that the appellants, based on the Deeds of Hypothecation, could be classified as Financial Creditors, affirming their inclusion in the Committee of Creditors. The judgment clarified the criteria for determining creditor status and the implications for secured creditors in insolvency proceedings.

China Development Bank vs Doha Bank Q.P.S.C · Niyam