Supreme court judgement in celir llp vs bafna motors

You can discuss yor own problem and can seek legal opinion to the grievances you face and the possible solutions for them.

This is a reference of some judgment which appears to be suitable to that particular case before the apex court, hence instead of putting such questions of academic interest you may better discuss your problems. 

I feel that the learned Advocate has failed to appreciate the issue involved. The post was intended to have the views of the experts on a matter which involves the interest of the secured creditors as well as the borrowers.

It is not an individual problem faced by me. Had it been so , I would have definitely explored all options including engaging a counsel of your stature.

As i do not intend to get personal on a professional issue, the suggestions of the learned advocate are left at this stage with the option of soliciting the views who may be interested to offer their insights kept open

Yes, the query is short of matrial facts.

Thank you Shri Venu. I will share the material facts shortly 

In view of this judgement many matters where simultaneous notices were given are being set aside by the DRT and DRAT. In fact the Supreme Court has not dealt with this issue in the judgement . What all it said was right of redemption will be available only till the auction notice is published. They have not referred to Canara bank vs Amarender case.

Agreed that the SC did not deal or refer to the judgement delivered by Honourable Justice A Khanwilkar in Canara bank Vs Amarender reddy. However that judgement was much prior to the 2023 judgement of the SC in Celir LLP case. I have now noticed that while a few  of  the lenders like SBI are following the Celir LLP case , many are still issuing simultaneous notices, which is in my view is fraught wit risks.

Perhaps a clarificatory orders in the coming days will set the record straight. Thanks for the post

The problem the banks are facing is in respect of pending matters where simultaneous notices were already issued as per the judgement of Canara bank. No one has properly interpreted the amendment to the rules in 2018. In fact the facts of celir case does not deal with simultaneous notice however since they upheld the judgement of annadata polymers this has led to setting aside the notices. I too am waiting for a judgment in this regard 

From a practical consideration of the circumstances, the notices issued prior to the Celir LLP case will have to decided by the courts and Tribunals based on the law that was existing at that time and all notices issued subsequent to Celir LLP case may have to be decided on the basis of Celir LLP case.

We have to wait and watch how the cases will be decided now after CELIR LLP case