Secured Creditor Can File Winding Up Petition Despite Obtaining Recovery Certificate From DRT: SC [Read Judgment]

Ashok Kini

29 Jan 2019 5:40 PM IST

"When secured creditors like the respondent are driven from pillar to post to recover what is legitimately due to them, in attempting to avail of more than one remedy at the same time, they do not "blow hot and cold", but they blow hot and hotter."

The Supreme Court has held that a secured creditor can file a winding up petition even after obtaining a decree from the Debts Recovery Tribunal ["DRT"] and a recovery certificate based thereon. The bench comprising Justice Rohinton Fali Nariman and Justice Navin Sinha dismissed appeals (Swaraj Infrastructure Pvt. Ltd vs. Kotak Mahindra Bank) against Bombay High Court judgment...

Secured Creditor Can File Winding Up Petition Despite Obtaining Recovery Certificate From DRT: SC [Read Judgment]

Ashok Kini

"When secured creditors like the respondent are driven from pillar to post to recover what is legitimately due to them, in attempting to avail of more than one remedy at the same time, they do not "blow hot and cold", but they blow hot and hotter."

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