China Development Bank vs Doha Bank Q.P.S.C
Judges (2)
Case Significance
China Development Bank vs Doha Bank Q.P.S.C is a Supreme Court of India decision dated December 20, 2024 (citation: insc-2024-1029). The Supreme Court allowed the appeals challenging the NCLAT's classification of lenders in the insolvency proceedings of Reliance Infratel Limited (RITL) under the IBC. The key issue was whether the appellants, including China Development Bank, could be classified as 'Financial Creditors' under Section 5(7) of the IBC. The Court quashed the NCLAT's order and restored the NCLT's order recognizing the appellants as financial creditors, holding that any reclassification would amount to impermiss The bench comprised Justices Abhay S. Oka and Pankaj Mithal. The judgment was delivered by Justice Abhay S. Oka.
Summary
The Supreme Court allowed the appeals challenging the NCLAT's classification of lenders in the insolvency proceedings of Reliance Infratel Limited (RITL) under the IBC. The key issue was whether the appellants, including China Development Bank, could be classified as 'Financial Creditors' under Section 5(7) of the IBC. The Court quashed the NCLAT's order and restored the NCLT's order recognizing the appellants as financial creditors, holding that any reclassification would amount to impermissible modification of the approved resolution plan.
What was the outcome of China Development Bank vs Doha Bank Q.P.S.C?
The Supreme Court allowed the appeals challenging the NCLAT's classification of lenders in the insolvency proceedings of Reliance Infratel Limited (RITL) under the IBC. The key issue was whether the a...
Judgment
Read the full judgment on the official India Courts portal.
Read on Indian KanoonSource: Indian Kanoon (insc-2024-1029)