1
IN THE SUPREME COURT OF INDIA
CIVIL APPELLATE JURISDICTION
CIVIL APPEAL NO. 4799/2021
SAMEER SINGH ..... APPELLANT(S)
VERSUS
BANK OF INDIA & ORS. ..... RESPONDENT(S)
O R D E R
1. The present appeal, preferred by a suspended Director of the
corporate debtor, Sameer Singh, impugns the judgment dated
22.05.2020 passed by the National Company Law Appellate
Tribunal,1 New Delhi, on the question/factum of default.
2. On relevant consideration, we do not find any good ground and
reason to interfere with the impugned judgment.
3. However, certain developments have occurred since then:
On 03.04.2021, the Committee of Creditors2 approved a
resolution plan filed by Mr. S.M. Kamal Pasha, proprietor
of M/s. Golden Hatcheries, in consortium with Mr. Syed
Fahad, proprietor of M/s. Standard Farms, in terms of
Section 30(4) to the Insolvency and Bankruptcy Code, 20163.
1 For short, “NCLAT”. 2 For short, “CoC”. 3 For short, “the Code”.
2
On 10.05.2021, a Letter of Intent was issued in favour of
Mr. S.M. Kamal Pasha and Mr. Syed Fahad.
On 16.06.2021, per Mr. S.M. Kamal Pasha and Mr. Syed
Fahad, a bank guarantee of 8.62 cores was executed by₹
them as a security deposit.
By order dated 03.01.2022, this Court directed a stay on
further proceedings before the adjudicating authority,
including on the application filed by respondent No. 4, S.
Rajendran, the Resolution Professi...