Supreme Court · 2024 INSC 548 · Decided 23 July 2024
BRS Ventures Investments LTD. v. Srei Infrastructure Finance LTD. & ANR.
- Court
- Supreme Court of India
- Citation
- 2024 INSC 548 · [2024] 7 S.C.R. 2143
- Case number
- CIVIL APPEAL No. 4565/2021
- Decided
- 23 July 2024
- Bench
- ABHAY S. OKA, PANKAJ MITHAL (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Contract Act Section 126, 128, 133, 7, 60, 140; IBC Section 7, 31, 60, 18(1)
Headnote
Whether the payment of Rs.38.87 crores to the financial creditor under the resolution plan of the corporate guarantor will extinguish the liability of the principal borrower/corporate debtor to pay the entire amount payable under the loan transaction after paid on behalf of the corporate guarantor in terms of its resolution plan; whether a holding company is the owner of the assets of its subsidiary and can the assets of the subsidiaries be included in the resolution plan of the holding company; can the financial creditor file simultaneous/separate
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