Supreme Court · 2021 INSC 35 · Decided 21 January 2021
M/S. Reliance Asset Reconstruction Company LTD. v. M/S Hotel Poonja International PVT. LTD.
- Court
- Supreme Court of India
- Citation
- 2021 INSC 35 · [2021] 1 S.C.R. 495
- Case number
- CIVIL APPEAL No. 4221/2020
- Decided
- 21 January 2021
- Bench
- INDIRA BANERJEE, SANJIV KHANNA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Limitation Act Section 18, 137; IBC Section 62, 7, 9
Headnote
Insolvency and Bankruptcy Code, 2016 - s.62 - The Assignor Bank, along with Corporation Bank sanctioned a term loan of Rs.40 lakhs to the corporate debtor - The corporate debtor failed to repay loan - The Assignor Bank declared the account of corporate debtor as (NPA) on 01.04.1993 - Assignor Bank filed application before the Debt Recovery Tribunal for recovery of dues - A settlement was reached between the Assignor Bank and the corporate debtor - Accordingly, DRT issued a Recovery Certificate on 27.03.2003 - Corporate debtor
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)