Prudeta
Prudeta
2026 INSC 717
📌 Paras 1-3
The Appellant, M/s Tata Steel Ltd. (Successful Resolution Applicant - SRA), challenged Bombay High Court orders allowing recovery suits by Respondent No.1 (Varsha) and an Intervenor (Masyc Projects Private Limited) to proceed post-approval of a resolution plan for Bhushan Steel Limited (BSL). Prior to the Corporate Insolvency Resolution Process (CIRP), Respondent No.1 had filed a civil suit and the Intervenor had initiated arbitral references. Both submitted claims as Operational Creditors during CIRP, admitted at a notional value of ₹1 each, subject to disputes. The SRA's Resolution Plan, approved by the NCLT, provided for an 'Operational Creditors Settlement Amount' but stipulated NIL payment if liquidation value was insufficient, and sought d
The bench further analyzed the constitutional validity of the impugned provisions and discussed the interpretation of Articles 14 and 21 in light of recent precedents...
Citing the ratio in prior decisions, the court held that the legislative intent was to ensure...
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