The Supreme Court bench comprising Justices Indira Banerjee and M.M. Sundresh on Wednesday allowed an Open Court Hearing for the Review Petition filed against its Judgment decided on 12 July 2022, in Vidarbha Industries Power Limited v. Axis Bank Limited, REED 2022 SC 07529, where it was held that the National Company Law Tribunal has the discretion to not admit the Insolvency Application filed by a Financial Creditor even if the Corporate Debtor is in default.
The 12 July 2022 Judgment was a landmark judgment of the Supreme Court Division bench comprising Justices Indira Banerjee and J.K. Maheshwari in Civil Appeal No. 4633 of 2021.
The Review Petition Advocates for the Petitioner were Mr. Tushar Mehta, SG, Mr. Sanjay Kapur, AOR, Ms. Megha Karnwal and Mr. Arjun Bhatia, Advocates.
The Review Petition along with the IAs is listed for hearing in open Court on 19.09.2022.
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