Union Bank of India v. Gangotri Enterprises Ltd.
Case brief
What is this about?
A brief order in an appeal arising from an O.A. filed against dismissal of an application seeking challenge to insolvency moratorium applicability on guarantors under Section 14.
What did the court decide?
Notice issued to respondents; Applicant directed to file service affidavit within next date.
What the court decided
Appeal Dy. No. 831/2023 Date: 15.12.2023
Union Bank of India Vs. M/s Gangotri Enterprises Ltd. & Ors.
Present: Shri Sandeep Arora, counsel for the appellant-Bank, Shri P. K. Bajpai, counsel for the respondent-BOI, Shri K. Kartikeya, Advocate holding brief of Shri Vivek Kumar Singh, counsel for the respondent-IDBI Bank,
Learned counsel for the appellant has relied upon the provision of section 14 of the Insolvency and Bankruptcy Code and has argued that the provision of sub section 1 of section 14 regarding moratorium will not be application so far as guarantor is concerned, therefore the order for dismissal of the O.A. cannot be sustained as it is in contravention of section 14 of the aforesaid Act.
Issue notice to the remaining respondents by two modes i.e. Registered Post with A.D. and Speed Post. Steps to be taken by the appellant within a week. Affidavit of service along with tracking report be filed by the next date.
List this case on 15.03.2024 for service.
Justice R. D. Khare Chairperson
Anupam
Issues for consideration
1 issue framed by the court
Whether the moratorium under sub-section 1 of section 14 of the Insolvency and Bankruptcy Code applies to a guarantor so as to sustain the dismissal of a writ petition.
Parties & counsel
- appellant
Union Bank of India
- respondent
M/s Gangotri Enterprises Ltd.
- respondent
BOI
- respondent
IDBI Bank
Coram
Case details
As recorded by the court registry
All orders in this case
5 orders share this CNR
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