Noida Special Economic Zone Authority vs Manish Agarwal

insc-2024-839 Supreme Court of India 5 November 2024 • 9 min read

Judges (2)

Abhay S. Oka Coram Augustine George Masih Delivered

Parties (3)

Noida Special Economic Zone Authority Appellant Shree Bhoomika International Limited Respondent Manish Agarwal Respondent

Case Significance

Noida Special Economic Zone Authority vs Manish Agarwal is a Supreme Court of India decision dated November 5, 2024 (citation: insc-2024-839). NSEZ Authority challenged the NCLAT's approval of a Resolution Plan for the Corporate Debtor under IBC, arguing the SEZ Act should override IBC provisions. The Supreme Court dismissed the appeal, finding the Resolution Plan had already been implemented and dues disbursed, and the SEZ Act provisions did not give way over IBC 2016. The bench comprised Justices Abhay S. Oka and Augustine George Masih. The judgment was delivered by Justice Augustine George Masih.

Summary

NSEZ Authority challenged the NCLAT's approval of a Resolution Plan for the Corporate Debtor under IBC, arguing the SEZ Act should override IBC provisions. The Supreme Court dismissed the appeal, finding the Resolution Plan had already been implemented and dues disbursed, and the SEZ Act provisions did not give way over IBC 2016.

What was the outcome of Noida Special Economic Zone Authority vs Manish Agarwal?

NSEZ Authority challenged the NCLAT's approval of a Resolution Plan for the Corporate Debtor under IBC, arguing the SEZ Act should override IBC provisions. The Supreme Court dismissed the appeal, find...

Judgment

Read the full judgment on the official India Courts portal.

Read on Indian Kanoon

Source: Indian Kanoon (insc-2024-839)