Mkm Diamonds Private Limited vs State Bank Of India Through The ...
- CitationCompany Appeal (AT) (Insolvency) No. 1197 of 2023
Ratio decidendi
The rule this decision rests on
Even where a corporate debtor is under the Corporate Insolvency Resolution Process, the statutory compliances of the corporate debtor must still be made, and the suspended management may inform the Interim Resolution Professional, who is to take the necessary steps to effect those compliances.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
IN THE MATTER OF: Paresh K. Mehta Investment Pvt. Ltd. ...Appellant Versus State Bank of India & Anr. ...Respondents
Present: For Appellant : Mr. Ravindra Keshavrao Adsure, Mr. Yash Prashant S. and Mr. Sagar N. Pahuna Patil, Advocates.
For Respondents : Mr. Sarthak Utangale, Advocate for R-1.
Ms. Neha Agarwal, Advocate for IRP/R-2.
ORDER
(Hybrid Mode)
18.12.2024 : I.A. No. 8728/2024
1. This is an Application filed by the Appellant seeking a direction to the
Interim Resolution Professional (IRP) to inform Ministry of Corporate Affairs
to delete remark "under the Corporate Insolvency Resolution Process (CIRP)"
from the status of the Corporate Debtor.
2. Counsel for the Appellant submits that Appellant is not pressing first
part of the Prayer a.
3. We are of the view that even if the Corporate Debtor is in the CIRP, the
statutory compliances have to be made. It shall be open for the Suspended
Management to inform the IRP, who shall do the needful to the statutory
compliances.
With these directions Application is disposed of.
Comp. App. (AT) (Ins.) No. 1197/2023
List this Appeal high on board on 15th January, 2025.
[Justice Ashok Bhushan] Chairperson
[Barun Mitra] Member (Technical)
[Arun Baroka] Member (Technical) himanshu/nn
I.A. No. 8728 of 2024 in Comp. App. (AT) (Ins.) No. 1197 of 2023 2 of 2
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