Dhanlaxmi Bank Ltd vs Mohammed Javed Sultan

The Supreme Court examined the dispute arising from a loan facility sanctioned by Dhanlaxmi Bank Ltd to Emerald Mineral Exim Pvt. Ltd. for purchasing a property, and the subsequent agreements involving the bank, the corporate debtor, the builder, and WBHIDCL. The key issue was the validity and enforceability of the quadripartite agreement and the disbursement of loan amounts directly to the builder. The Court analyzed the contractual obligations and the rights of the parties under the facility and related agreements, ultimately setting aside the NCLAT order and restoring the NCLT order.