Case Law Details
Case Name : Asset Reconstruction Company Vs Tulip Star Hotels Limited & Ors. (Supreme Court)
Appeal Number : Civil Appeal Nos. 84-85 of 2020
Date of Judgement/Order : 01/08/2022
Related Assessment Year :
Courts :
Supreme Court of India
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Asset Reconstruction Company Vs Tulip Star Hotels Limited & Ors. (Supreme Court)
Subject: Judgment1 dated 1st August, 2022 of the Hon’ble Supreme Court of India in the matter of Asset Reconstruction Company (India) Limited Vs. Tulip Star Hotels Limited & Ors. [Civil Appeal Nos. 84-85 of 2020]
The Hon’ble Supreme Court in its judgment dated 1st August, 2022 while allowing the appeal observed that the NCLAT erred in law in holding that the books of account of a company could not be treated as acknowledgement of liability in respect of debt payable to a Financial Creditor (FC), made following important observations:
