2024 (5) TMI 896 - SCH - Insolvency and Bankruptcy

Application under Section 12A of the Insolvency and Bankruptcy Code, 2016 - HELD THAT - An application under Section 12A of the Insolvency and Bankruptcy Code, 2016 (the IBC) can be made only by the applicant in the applications under Section 7 or Section 9 or Section 10 of the IBC. Hence, there is no reason to interfere with the impugned judgment. The Civil Appeal is, accordingly, dismissed.

Summary

Issues involved: Interpretation of Section 12A of the Insolvency and Bankruptcy Code, 2016.

The Supreme Court, comprising Hon'ble Mr. Justice Abhay S. Oka and Hon'ble Mr. Justice Ujjal Bhuyan, heard the appeal. The appellant was represented by Mr. Jay Savla, Senior Advocate, Ms. Madhusmita Bora, AOR, Mr. Pawan Kishore Singh, Advocate, Mr. Dipankar Singh, Advocate, and Ms. Pavithra V., Advocate.

The Court noted that an application under Section 12A of the Insolvency and Bankruptcy Code, 2016 can only be made by the applicant in the applications under Section 7, Section 9, or Section 10 of the IBC. Based on this interpretation, the Court found no grounds to interfere with the impugned judgment. Consequently, the Civil Appeal was dismissed.