Supreme Court · 2024 INSC 852 · Decided 7 November 2024
State Bank of India & ORS. v. The Consortium of MR. Murari Lal Jalan and MR. Florian Fritsch & ANR.
- Court
- Supreme Court of India
- Citation
- 2024 INSC 852 · [2024] 11 S.C.R. 2039
- Case number
- CIVIL APPEAL No. 5023/2024
- Decided
- 7 November 2024
- Bench
- D.Y. CHANDRACHUD, J.B. PARDIWALA, MANOJ MISRA (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Constitution Article 142; IBC Section 33(3), 31(1)
Headnote
Whether the Performance Bank Guarantee (PBG) could have been adjusted against the first tranche payment which was to be made under the Resolution Plan, within 180 days from the of the order of this Court dated 18.01.2024, the terms of the Resolution Plan and the provisions of law; In other words, whether the impugned order of the NCLAT allowing the adjustment of the PBG in lieu of payment of the first tranche could be said to be perverse; Whether the
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