Supreme Court - Daily Orders
M/S. Dr. Reddys Laboratories Limited vs D. Srinivasulu on 24 August, 2018
Bench: Rohinton Fali Nariman, Indu Malhotra
1
IN THE SUPREME COURT OF INDIA
CIVIL APPELLATE JURISDICTION
CIVIL APPEAL NO. 18831 OF 2017
DR. REDDY’S LABORATORIES LIMITED Appellant(s)
VERSUS
D. SRINIVASULU & ANR. Respondent(s)
O R D E R
1) Heard the learned Senior Counsel/Counsel appearing for the parties.
2) The present case involves an Operational Creditor, who had issued the requisite demand notice on 18.03.2017 under Section 8 of the Insolvency & Bankruptcy Code, 2016. The National Company Law Tribunal (NCLT), Hyderabad Bench, Hyderabad admitted the insolvency petition relying upon a letter of the respondent dated 26.12.2014 and stating that there was no record to show that there was existence of a pre-existing dispute.
3) In an appeal to the National Company Law Appellate Tribunal (NCLAT), New Delhi, the NCLAT set aside the judgment of the NCLT solely on the ground that the said notice was issued by a Law Firm and not by the Operational Creditor itself.
4) Signature Not Verified We have, by our judgment in Macquarie Bank Limited Ltd. vs. Digitally signed by R Shilpi Cable Technologies Limited, (2018) 2 SCC 674 held that this NATARAJAN Date: 2018.08.28 16:51:10 IST Reason:
view of the law is incorrect.2
5) This being the case, we set aside the judgment of the NCLAT and remand the matter for hearing on the merits.
6) The appeal is allowed in the aforesaid terms.
.......................... J. (ROHINTON FALI NARIMAN) .......................... J. (INDU MALHOTRA) New Delhi;
August 24, 2018.
3
ITEM NO.56 COURT NO.8 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 No(s). 18831/2017 DR. REDDY’S LABORATORIES LIMITED Appellant(s) VERSUS D. SRINIVASULU & ANR. Respondent(s) (FOR ADMISSION ) Date : 24-08-2018 This appeal was called on for hearing today. CORAM :
HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN HON'BLE MS. JUSTICE INDU MALHOTRA For Appellant(s) Mr. B. Adinarayana Rao, Sr. Adv.
Mr. Mullapudi Rambabu, Adv.
Mr. N. Eswara Rao, Adv.
Ms. Vijayshree Pattnaik, Adv. For M/s. M. Rambabu And Co., AOR For Respondent(s) Mr. Sourav Roy, Adv.
Mr. Ruchir Ranjan Rai, Adv.
Ms. Srishti Singh, AOR UPON hearing the counsel the Court made the following O R D E R The appeal is allowed in terms of the signed order.
(R. NATARAJAN) (TAPAN KUMAR CHAKRABORTY) COURT MASTER (SH) BRANCH OFFICER (Signed order is placed on the file)