Sunrise 14 A/S Denmark Vs Ravi Mahajan (Civil Appeal Nos. 21794-21795 of 2017) - Synopsis
Team SoOLEGAL 3 Nov 2020
In this case, Sunrise 14 A/S Denmark Vs Ravi Mahajan (Civil Appeal Nos. 21794-21795 of 2017), the Supreme Court of India was of the opinion that, after referring to the facts of the case and the fact that the appellant was a Danish corporation, the order dated 28.07.2017 passed by the National Company Law Tribunal, Chandigarh, eventually found sufficient proof of default in the debt owing. Hence, the appeal was accepted. By the challenged judgement and order of 06.12.2017, the National Company Appellate Tribunal set aside the above judgement of the NCLT on the basis that the appeal was permitted by the required provision of Section 7(3)(a), which involved the completion of a statutory form, not being made and the submission being made by a counsel and not by the party in person. This is the case of a financial creditor who has moved the NCLT. In Macquarie Bank Ltd. v. Shilpi Cable Technologies Ltd. [2017] SC has since taken the view that the petition filed by a foreign corporation in the case of operational creditors does not have to comply with such constitutional conditions as are difficult to comply with, namely, to receive a certificate from Indian financial institutions showing default in repayment of debt. It is also assumed that, as it was held at Macquarie Bank, the petition submitted by an advocate will be maintainable. Judges are of the opinion that in the case of financial creditors, the said decision will also apply. Consequently, the Supreme Court has set aside the judgement of NCLAT and reinstated that of NCLT.
The appeals are allowed in the above-mentioned terms.

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