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Vidarbha Industries Power Ltd. v. Axis Bank Ltd. | Judgment | Law on Tips

Judgment Library/Case record

Supreme Court of India

Vidarbha Industries Power Ltd. v. Axis Bank Ltd.

(2022) 8 SCC 352

Decision date: 2022
Text availability: Summary or case record only
Bench: 2-Judge Bench

Source: landmark_precedents seed

Case summary

Section 7(5)(a) uses 'may'; NCLT has discretionary power not to admit Section 7 application mechanically if debtor has viable recovery prospects or pending awards.

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Principle

Section 7(5)(a) uses 'may'; NCLT has discretionary power not to admit Section 7 application mechanically if debtor has viable recovery prospects or pending awards.

Connected provisions and cases

interpretsThe Insolvency and Bankruptcy Code, 2016. · Section 7 Other decisions on this provision →

Related judgments

M. Suresh Kumar Reddy v. Canara Bank · (2023) 8 SCC 387 · 2023 · 1 shared provision
Innoventive Industries Ltd. v. ICICI Bank · (2018) 1 SCC 407 · 2017 · 1 shared provision

Judgment text

Full judgment text is not available in this record.

Judgment Library/Case record

Supreme Court of India

Vidarbha Industries Power Ltd. v. Axis Bank Ltd.

(2022) 8 SCC 352

Decision date: 2022
Text availability: Summary or case record only
Bench: 2-Judge Bench

Source: landmark_precedents seed

Case summary

Section 7(5)(a) uses 'may'; NCLT has discretionary power not to admit Section 7 application mechanically if debtor has viable recovery prospects or pending awards.

Advertisement

Principle

Section 7(5)(a) uses 'may'; NCLT has discretionary power not to admit Section 7 application mechanically if debtor has viable recovery prospects or pending awards.

Connected provisions and cases

interpretsThe Insolvency and Bankruptcy Code, 2016. · Section 7 Other decisions on this provision →

Related judgments

M. Suresh Kumar Reddy v. Canara Bank · (2023) 8 SCC 387 · 2023 · 1 shared provision
Innoventive Industries Ltd. v. ICICI Bank · (2018) 1 SCC 407 · 2017 · 1 shared provision

Judgment text

Full judgment text is not available in this record.