M/S BESTAVISION ELECTRONICS LIMITED vs PUNJAB NATIONAL BANK . — SLP(C) No. 20026 - 20029/2008

Summary On 25/04/2011, the Supreme Court heard SLP(C) Nos. 20026-20029/2008 filed by Bestavision Electronics Limited against Punjab National Bank. The Court allowed applications to implead the Punjab State Industrial Development Corporation Limited as respondent and disposed of directions applications as the parties had settled the dispute. Since all creditors, including Punjab National Bank, had settled their claims (principal and interest), the Court disposed of the special leave petitions and remitted the matter to the Board for Industrial and Financial Reconstruction to consider the petitioner's application under Section 15 of the Sick Industrial Companies Act, 1985. The one-time settlement copy was to be filed within one week with an affidavit. This case analysis is maintained by casestatus.in based on publicly available court records.