Case Note & Summary
The National Company Law Appellate Tribunal addressed two appeals filed by Canara Bank (E - Syndicate Bank) against the orders of the Adjudicating Authority concerning the Corporate Insolvency Resolution Process (CIRP) of Sanwariyaji Business Ventures Pvt. Ltd. The appeals arose after the Supreme Court issued an order on 29.04.2026, setting aside the admission of a Section 7 application, which effectively halted the CIRP proceedings. The counsel for the appellant argued that, in light of the Supreme Court's ruling, the appeals had become infructuous. The Tribunal concurred, stating that since the CIRP was no longer proceeding, there was no basis to entertain the appeals. Consequently, both appeals were dismissed as infructuous, reflecting the impact of the Supreme Court's decision on the ongoing insolvency proceedings.
Headnote
A) Insolvency Law - Infructuous Appeals - Dismissal of Appeals - Insolvency and Bankruptcy Code, 2016 - Appeals became infructuous following the Supreme Court's order setting aside the admission of the Section 7 application, leading to the cessation of Corporate Insolvency Resolution Process (CIRP). The Tribunal found no reason to entertain the appeals as the underlying proceedings were no longer active. Held that the appeals were dismissed as infructuous (Paras Not mentioned).
Issue of Consideration
Whether the appeals filed against the order of the Adjudicating Authority should be entertained after the Supreme Court set aside the admission of the Section 7 application.
Final Decision
The Tribunal dismissed both appeals as infructuous, stating that there was no reason to entertain them following the Supreme Court's order which set aside the admission of the Section 7 application.
Law Points
- Infructuous appeal
- Corporate Insolvency Resolution Process
- Supreme Court order impact
