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        2025 (1) TMI 1153 - SCH - IBC

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        SC Affirms NCLT: Conveyor Belt Operation as Corporate Debtor Asset Under Insolvency and Bankruptcy Code, 2016. Pending Applications Dismissed. The SC dismissed the appeals regarding the operation and maintenance of conveyor belt systems, affirming the NCLT's decision. The Court ruled that the ...
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              SC Affirms NCLT: Conveyor Belt Operation as Corporate Debtor Asset Under Insolvency and Bankruptcy Code, 2016. Pending Applications Dismissed.

                              The SC dismissed the appeals regarding the operation and maintenance of conveyor belt systems, affirming the NCLT's decision. The Court ruled that the right to operate and maintain these systems is an asset and right of the Corporate Debtor under the Insolvency and Bankruptcy Code, 2016. All related pending applications were disposed of.


                              The Supreme Court, comprising Chief Justice Sanjiv Khanna, Justice Sanjay Kumar, and Justice K. V. Viswanathan, dismissed the appeals concerning the operation and maintenance of conveyor belt systems. The Court found no "good ground and reason to interfere" with the National Company Law Tribunal's decision, as outlined in paragraphs 26(e) and 26(f) of the Resolution Professional's reply. The judgment confirmed that the right to operate and maintain the conveyor belt systems is considered an asset and right of the Corporate Debtor under the Insolvency and Bankruptcy Code, 2016. All pending applications related to the case were disposed of.
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