Supreme Court · 2021 INSC 127 · Decided 1 March 2021
Kridhan Infrastructure PVT. LTD. (Now Known As Krish Steel and Trading PVT Ltd) v. Venkatesan Sankaranarayan & ORS.
- Court
- Supreme Court of India
- Citation
- 2021 INSC 127 · [2021] 2 S.C.R. 520
- Case number
- CIVIL APPEAL No. 3299/2020
- Decided
- 1 March 2021
- Bench
- D.Y. CHANDRACHUD, M.R. SHAH (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- IBC
Headnote
Insolvency and Bankruptcy Code, 2016 - The appellant submitted a resolution plan for a company which was undergoing the Corporate Insolvency Resolution Process (CIRP) under the 2016 Code - The by the Committee of Creditors (CoC) and National Company Law Tribunal (NCLT) - Accordingly, the appellant deposited an amount of Rs.5 crores in an escrow account of the corporate debtor - However, further obligations were not fulfilled by the appellant under the Resolution Plan
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