Supreme Court · 2024 INSC 14 · Decided 3 January 2024
DBS Bank Limited Singapore v. Ruchi Soya Industries Limited and Another
- Court
- Supreme Court of India
- Citation
- 2024 INSC 14 · [2024] 1 S.C.R. 114
- Case number
- CIVIL APPEAL No. 9133/2019
- Decided
- 3 January 2024
- Bench
- SANJIV KHANNA, SARASA VENKATANARAYANA BHATTI (2-judge bench)
- Outcome
- Matter referred to larger bench
- Case type
- Civil
- Acts & sections cited
- IBC Section 30(2)(b)(ii), 30(2)
Headnote
Whether s.30(2)(b)(ii) of the Insolvency and Bankruptcy Code, 2016, as amended in 2019, entitles the dissenting financial creditor to be paid the minimum value of its security interest; whether the amendments made in the substantive portion of Explanation 2 will be applicable when the first appeal was heard by NCLAT. Insolvency and Bankruptcy Code, 2016 - s.30(2)(b)(ii) - Interpretation: Held: s.30(2)(b)(ii) forfends the dissenting financial creditor from settling for a lower amount payable under the
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