Bombay High Court
Sicom Ltd vs Bhaskar Shovakar on 16 January, 2024
Author: Abhay Ahuja
Bench: Abhay Ahuja
1 2 inpt 40-05 and ors-os.doc
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
IN ITS INSOLVENCY JURISDICTION
INSOLVENCY PETITION NO.40 OF 20 05
Industrial Development Bank of India Limited ... Petitioning Creditor
Vs.
Shashi Kumar Jain and ors. ... Respondents
WITH
NOTICE OF MOTION NO.35 OF 2007
IN
INSOLVENCY NOTICE NO.33 OF 2007
WITH
INSOLVENCY PETITION NO.14 OF 2007
WITH
NOTICE OF MOTION NO.38 OF 2017
IN
INSOLVENCY PETITION NO.136 OF 2003
WITH
NOTICE OF MOTION NO.41 OF 2007
IN
INSOLVENCY NOTICE NO.251 OF 2006
WITH
INSOLVENCY NOTICE NO.251 OF 2006
IN
NOTICE OF MOTION NO.41 OF 2007
WITH
NOTICE OF MOTION NO.42 OF 2007
IN
INSOLVENCY NOTICE NO.257 OF 2006
WITH
INSOLVENCY NOTICE NO.257 OF 2006
IN
NOTICE OF MOTION NO.42 OF 2007
WITH
INSOLVENCY PETITION NO.29 OF 2007
WITH
NOTICE OF MOTION NO.50 OF 2007
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IN
INSOLVENCY NOTICE NO.41 OF 2007
WITH
NOTICE OF MOTION NO.41 OF 2007
WITH
NOTICE OF MOTION NO.74 OF 2007
IN
INSOLVENCY NOTICE NO.252 OF 2006
WITH
NOTICE OF MOTION NO.109 OF 2006
IN
INSOLVENCY NOTICE NO.62 OF 2006
WITH
INSOLVENCY PETITION NO.38 OF 2007
WITH
INSOLVENCY PETITION NO.41 OF 2007
WITH
NOTICE OF MOTION NO.112 OF 2006
IN
INSOLVENCY NOTICE NO.100 OF 2006
WITH
INSOLVENCY PETITION NO.44 OF 2007
WITH
INSOLVENCY PETITION NO.56 OF 2007
WITH
NOTICE OF MOTION NO.40 OF 2008
IN
INSOLVENCY PETITION NO. NO.29 OF 2005
WITH
INSOLVENCY PETITION NO.78 OF 2006
WITH
NOTICE OF MOTION NO.94 OF 2007
IN
INSOLVENCY NOTICE NO. 73 OF 2007
WITH
INSOLVENCY PETITION NO.58 OF 2007
WITH
INSOLVENCY PETITION NO.62 OF 2007
IN
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INSOLVENCY NOTICE NO.62 OF 2007
IN
INSOLVENCY NOTICE NO.103 OF 2007
WITH
NOTICE OF MOTION NO.99 OF 2007
IN
INSOLVENCY NOTICE NO.119 OF 2007
IN
INSOLVENCY PETITION NO.66 OF 2007
WITH
NOTICE OF MOTION NO.120 OF 2017
IN
INSOLVENCY NOTICE NO.122 OF 2007
WITH
NOTICE OF MOTION NO.119 OF 2007
IN
INSOLVENCY NOTICE NO.121 OF 2007
WITH
INSOLVENCY PETITION NO.104 OF 2006
WITH
INSOLVENCY PETITION NO.112 OF 2006
AND
INSOLVENCY PETITION NO.83 OF 2007
------
Ms. Kalyani Wagle i/by M/s T. N. Tripathi and Company, Advocate for the
Petitioning Creditor in NMIP No. 142 of 2007.
Mr. Dhaval A. Patil i/by M/s K. Ashar and Company, Advocate for the
Defendant No. 3 in INPT No. 40 of 2005.
Ms. M.R.Parkar, Insolvency Registrar present.
-------
CORAM : ABHAY AHUJA, J.
DATE : 16 JANUARY, 2024.
P.C. :
1. In all these group of Insolvency Petitions and connected Notices of
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Motion the issue that arises is the maintainability of the Insolvency Notices
on the ground that they are based on recovery certificates issued by the
Debt Recovery Tribunal ("DRT").
2. Mr. Patil, learned counsel for the Defendant No.3 in one of the
Insolvency Petitions being Insolvency Petition No.40 of 2005 would
submit that a Single Bench as well as the Division Bench of this Court
have held that Insolvency Notices based on recovery certificates issued by
the DRT are not maintainable in as much as recovery certificates are not
decrees of the Court. Learned counsel would submit that this issue is
pending before the Hon'ble Supreme Court and therefore, all these
matters had been adjourned sine die. Mr. Patil also informs the Court that
although the issue is pending before the Hon'ble Supreme Court, there is
no stay on the judgment of the this Court and therefore, appropriate
orders can be passed.
3. List these matters on 6th February, 2024, for the learned counsel for
the parties to furnish the judgments of this Court so that appropriate
orders can be passed by this Court.
(ABHAY AHUJA, J.)
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