I. Introduction ……………………………………………………………………………………… 4
II. The impugned orders ………………………………………………………………………….. 5
A. Impugned order in Civil Appeal No. 6094 OF 2019 ……………………………………. 5
B. Impugned order in Civil Appeal No. 6093 of 2019 …………………………………….. 8
C. Impugned order in Civil Appeal Nos. 827 – 828 of 2021 …………………………….. 9
D. Impugned order in Special Leave Petition No. 21778 of 2019 …………………….. 10
E. Impugned order in Civil Appeal No. 40 of 2020 ……………………………………… 11
F. Impugned order in Civil Appeal No. 2715 of 2020 …………………………………… 12
G. Impugned order in Civil Appeal No. 4018 of 2023 …………………………………… 13
H. Impugned order in Civil Appeal No. 7231 of 2024 …………………………………… 14
III. Submissions by Counsel …………………………………………………………………….. 15
A. Submissions opposing simultaneous proceedings …………………………………… 16
B. Submissions in support of simultaneous proceedings ………………………………. 20
IV. Analysis ………………………………………………………………………………………… 23
A. History of laws relating to insolvency, reconstruction, recovery of dues, etc. and
the objects/purposes of the Ibc …………………………………………………………. 24
B. Re: simultaneous proceedings ………………………………………………………….. 31
C. Re: IBC as recovery proceedings ……………………………………………………….. 33
D. Re: Election of Claims …………………………………………………………………….. 38
E. Re: double enrichment ……………………………………………………………………. 40
F. The need for reform ………………………………………………………………………. 41
V. Conclusion ……………………………………………………………………………………… 46
I. INTRODUCTION
The Judge is not to innovate at pleasure. He is not a knight errant
roaming at will in pursuit of his own ideal of beauty or of goodness.1
