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IBC - Highlights / Catch Notes

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The Adjudicating Authority had the power to recall its earlier ...


Engine and APU return ordered after correcting factual mistakes in earlier judgment.

Case Laws     IBC

October 8, 2024

The Adjudicating Authority had the power to recall its earlier order, which contained factual mistakes, and pass a corrected order regarding the return of the Corporate Debtor's engine and APU, which were in the Appellant's possession and of greater value. The Appellate Tribunal held that the Adjudicating Authority did not review or recall its earlier order but corrected genuine mistakes based on mistaken facts. The power to recall a judgment can be exercised when the ground for reopening was not available or pleaded earlier, and no other remedy was available. The Adjudicating Authority correctly passed the impugned order, and the appeal was dismissed.

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