Supreme Court - Daily Orders
Ashok Atre vs Kanoria Chemicals And Industries Ltd. on 9 October, 2023
1
IN THE SUPREME COURT OF INDIA
CIVIL APPELLATE JURISDICTION
CIVIL APPEAL NO. OF 2023
(@ Diary No. 21579/2023)
ASHOK DATTATRAY ATRE & ANR. APPELLANT(S)
VERSUS
KANORIA CHEMICALS AND INDUSTRIES LTD. & ANR. RESPONDENT(S)
O R D E R
Delay condoned.
We are not inclined to interfere and in fact, the appellants have not challenged the finding of the National Company Law Appellate Tribunal, Principal Bench, at New Delhi viz., the arbitral award dated 19.03.2015. The arbitral award dated 19.03.2015 is already under challenge before the District Court, Ankleshwar, Bharuch, Gujarat and it is stated that the parties will abide by the outcome of the said proceedings.
With regard to the categorization of the respondent – Kanoria Chemicals and Industries Ltd. under one of the categories of operational creditors, in terms of the resolution plan, the impugned judgment records as under:
“30. …..Signature Not Verified (i) ……. Therefore, the Applicant should be paid an
Digitally signed by Deepak Guglani Date: 2023.10.11 amount equal to the amount permissible to the 15:46:24 IST Reason: operational creditor receiving maximum percentage of payment against admitted claim, from among all the various categories of operational creditors in the 2 resolution plan.” We clarify that the aforesaid observations do not specify the category of operational creditor in which the respondent - Kanoria Chemicals and Industries Ltd. would fall. During the course of hearing before us, the learned Senior Advocate appearing for the appellant – Ashok Dattatray Atre has submitted that the respondent
- Kanoria Chemicals and Industries Ltd. can be considered in category “H”. Learned Senior Advocate appearing for the respondent
- Kanoria Chemicals and Industries Ltd. has objected to this. He submits that the respondent - Kanoria Chemicals and Industries Ltd. would fall in category “G”, and if not, then under “F” of operational creditors.
This aspect will have to be raised and considered by the National Company Law Tribunal. All pleas and contentions including the contention of the appellants that the resolution plan has been substantially implemented, are left open.
The learned Senior Advocate appearing for the respondent - Kanoria Chemicals and Industries Ltd. states that in view of the order passed today, they will not press the contempt petition.
The appeal is disposed of in the above terms. Pending application(s), if any, shall stand disposed of.
.................J. (SANJIV KHANNA) .................J. (S.V.N. BHATTI) NEW DELHI;
OCTOBER 09, 2023.
3
ITEM NO.46 COURT NO.3 SECTION XVII
S U P R E M E C O U R T O F I N D I A
RECORD OF PROCEEDINGS
CIVIL APPEAL Diary No. 21579/2023 (Arising out of impugned final judgment and order dated 11-04-2023 in CAAT(I) No. 618/2021 passed by the National Company Law Apellate Tribunal) ASHOK DATTATRAY ATRE & ANR. APPELLANT(S) VERSUS KANORIA CHEMICALS AND INDUSTRIES LTD. & ANR. RESPONDENT(S) (IA No.126469/2023-EXEMPTION FROM FILING C/C OF THE IMPUGNED JUDGMENT and IA No.126466/2023-STAY APPLICATION and IA No.126473/2023-CONDONATION OF DELAY IN REFILING / CURING THE DEFECTS) Date : 09-10-2023 This matter was called on for hearing today. CORAM : HON'BLE MR. JUSTICE SANJIV KHANNA HON'BLE MR. JUSTICE S.V.N. BHATTI For Appellant(s) Mr. Maninder Singh, Sr. Adv.
Mr. Amar Dave, Adv.
Mr. Abhinav Agrawal, AOR Mr. Ajay Sabharwal, Adv.
Ms. Ashita Chawla, Adv.
Mr. Kartik Sharma, Adv.
For Respondent(s) Mr. Nakul Dewan, Sr. Adv.
Mr. Aaditya Vijay Kumar, Adv.
Mr. Akshit Mohan, Adv.
Mr. Chitranshul A. Sinha, AOR Mr. Neil Chatterjee, Adv.
UPON hearing the counsel the Court made the following O R D E R Delay condoned.
The appeal is disposed of in terms of the signed order. Pending application(s), if any, shall stand disposed of.
(DEEPAK GUGLANI) (R.S. NARAYANAN) AR-cum-PS ASSISTANT REGISTRAR
(signed order is placed on the file)