Power Under Section 482 CrPC Cannot Be Used To Undermine Statutory Dictate Under Section 14, 17 IBC

  • Post category:Daily Judgments
  • Reading time:3 mins read

Power Under Section 482 CrPC Cannot Be Used To Undermine Statutory Dictate Under Section 14, 17 IBC

Case: Sandeep Khaitan, Resolution Professional For National Plywood Industries Ltd. Vs. JSVM Plywood Industries Ltd.

Coram: Justices UU Lalit and KM Joseph

Case No: [CrA 447 OF 2021]

Court Observation: “We have to also in this context bear in mind that the High Court appears to have, in passing the impugned order, which is an interim order for that matter, overlooked the salutary limits on its power under Section 482. The power under Section 482 may not be available to the Court to countenance the breach of a statuary provision. The words ‘to secure the ends of justice’ in Section 482 cannot mean to overlook the undermining of a statutory dictate, which in this case is the provisions of Section 14, and Section 17 of the IBC.”

“The Respondent No.1 is allowed to operate its account subject to it to first remitting into the account of the Corporate Debtor, the amount of Rs 32.50 lakhs which stood paid to it by the management of the Corporate Debtor. The assets of the Corporate Debtor shall be managed strictly in terms of the provisions of the IBC. The Appellant as RP will bear in mind the provision of Section 14 (2A) and the object of IBC. We however make it clear that our order shall not be taken as our pronouncement on the 28 issues arising from the FIR including the petition pending under Section 482 of the Cr.P.C.”

[doc id=4790]

Previous Posts

GST – Provisional Attachment Power ‘Draconian’; Not Intended To Authorize Commissioners To Make Preemptive Strikes On Assessee’s Property

Indian Parties Can Choose A Foreign Seat For Arbitration

‘High Courts Are In A Crisis Situation’: Supreme Court Lays Down Time Line For Appointment Of High Court Judges

When Parties Change ‘Venue Of Arbitration’ By Mutual Agreement, Changed Venue Becomes ‘Seat Of Arbitration’

Private Vehicle Is Not A “Public Place” As Explained In Section 43 NDPS Act Download Judgement


Section 482 CrPC, Statutory Dictate, IBC