(Arun Mishra, B.R. Gavai and Krishna Murari, JJ.)
State Bank of India ________________________________ Appellant;
v.
Metenere Ltd. __________________________________ Respondent.
Civil Appeal No. 2570 of 2020, decided on August 19, 2020
The Order of the court was delivered by
Order
1. Heard learned counsel for the parties at length.
2. We are prima facie satisfied that the approach adopted by the National Company Law Appellate Tribunal, New Delhi (NCLAT) is not correct that merely Resolution Professional who remained in the Service of SBI and is getting pension, was dis entitled to be Resolution Professional.
3. However, since Mr. Tushar Mehta, learned Solicitor General as well as Mr. Krishnan Venugopal, learned senior counsel have agreed for appointment of new Resolution Professional by NCLT, let new Resolution Professional be appointed by the NCLT forthwith within a week in accordance with the provisions of the Insolvency and Bankruptcy Code, 2016.
4. We may observe that the change of Resolution Professional shall not reflect adversely upon the integrity of concerned Resolution Professional, who has been replaced.
5. Since the impugned order does not reflect the correct approach, the same shall not be treated as a precedent.
6. Accordingly, the civil appeal is disposed of.
Civil Appeal No(s). 2570/2020
State Bank. of India __________________________________ Appellant
v.
M/s. Metenere Limited ______________________________ Respondent
(FOR ADMISSION and
IA No. 67532/2020 – APPROPRIATE ORDERS/DIRECTIONS
IA No. 54811/2020 – EXEMPTION FROM FILING AFFIDAVIT
IA No. 63330/2020 – PERMISSION TO FILE ADDITIONAL DOCUMENTS/FACTS/ANNEXURES, IA No. 57079/2020 – PERMISSION TO FILE ADDITIONAL DOCUMENTS/FACTS/ANNEXURES
IA No. 54810/2020 – STAY APPLICATION)
Date : 19-08-2020 This appeal was called on for hearing today.
(Before Arun Mishra, B.R. Gavai and Krishna Murari, JJ.)
For Appellant(s) Mr. Tushar Mehta, Ld. S.G.
Ms. Misha, Adv.
Mr. Anoop Rawat, Adv.
Mr. Vaijayant Paliwal, Adv.
Ms. Jasveen Kaur, Advocate
Mr. Ankur Mittal, Advocate
Mr. Shardul S. Shroff, AOR
For Respondent(s) Mr. Krishnan Venugopal, Sr. Adv.
Mr. Arvind Kumar Gupta, Adv.
Ms. Henna George, Adv.
Mr. Ravindra Sadanand Chingale, AOR
UPON hearing the counsel the Court made the following
ORDER
7. The civil appeal is disposed of in terms of the signed order.
8. Pending applications stand disposed of.
———
