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IBC 1 (Innoventive Vs ICICI)

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SCC Online Web Edition, © 2023 EBC Publishing Pvt. Ltd.

Page 1 Wednesday, September 27, 2023


Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 2 Wednesday, September 27, 2023
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 3 Wednesday, September 27, 2023
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 9 Wednesday, September 27, 2023
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 10 Wednesday, September 27, 2023
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 12 Wednesday, September 27, 2023
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 13 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 19 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 20 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 21 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 22 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 23 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 24 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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SCC Online Web Edition, © 2023 EBC Publishing Pvt. Ltd.
Page 25 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
SCC Online Web Edition: http://www.scconline.com
TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 26 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 27 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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SCC Online Web Edition, © 2023 EBC Publishing Pvt. Ltd.
Page 28 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
SCC Online Web Edition: http://www.scconline.com
TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 29 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
SCC Online Web Edition: http://www.scconline.com
TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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SCC Online Web Edition, © 2023 EBC Publishing Pvt. Ltd.
Page 30 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
SCC Online Web Edition: http://www.scconline.com
TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
-----------------------------------------------------------------------------------------------------------------------------------------------------------
SCC Online Web Edition, © 2023 EBC Publishing Pvt. Ltd.
Page 31 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
SCC Online Web Edition: http://www.scconline.com
TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
-----------------------------------------------------------------------------------------------------------------------------------------------------------
SCC Online Web Edition, © 2023 EBC Publishing Pvt. Ltd.
Page 32 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
SCC Online Web Edition: http://www.scconline.com
TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
-----------------------------------------------------------------------------------------------------------------------------------------------------------
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Page 33 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
SCC Online Web Edition: http://www.scconline.com
TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
-----------------------------------------------------------------------------------------------------------------------------------------------------------
SCC Online Web Edition, © 2023 EBC Publishing Pvt. Ltd.
Page 34 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
SCC Online Web Edition: http://www.scconline.com
TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
-----------------------------------------------------------------------------------------------------------------------------------------------------------
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Page 35 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
SCC Online Web Edition: http://www.scconline.com
TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 36 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 37 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
SCC Online Web Edition: http://www.scconline.com
TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 38 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
SCC Online Web Edition: http://www.scconline.com
TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
-----------------------------------------------------------------------------------------------------------------------------------------------------------
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Page 39 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
SCC Online Web Edition: http://www.scconline.com
TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
-----------------------------------------------------------------------------------------------------------------------------------------------------------
SCC Online Web Edition, © 2023 EBC Publishing Pvt. Ltd.
Page 40 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
SCC Online Web Edition: http://www.scconline.com
TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 41 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 42 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 43 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 44 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 45 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 46 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 47 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
-----------------------------------------------------------------------------------------------------------------------------------------------------------
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Page 48 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
-----------------------------------------------------------------------------------------------------------------------------------------------------------
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Page 49 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
-----------------------------------------------------------------------------------------------------------------------------------------------------------
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Page 50 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
-----------------------------------------------------------------------------------------------------------------------------------------------------------
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Page 51 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 52 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 56 Wednesday, September 27, 2023
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 57 Wednesday, September 27, 2023
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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Page 58 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
-----------------------------------------------------------------------------------------------------------------------------------------------------------
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Page 59 Wednesday, September 27, 2023
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
-----------------------------------------------------------------------------------------------------------------------------------------------------------
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Page 60 Wednesday, September 27, 2023
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
-----------------------------------------------------------------------------------------------------------------------------------------------------------
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Page 61 Wednesday, September 27, 2023
Printed For: Gaurav Mehrotra
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TruePrint™ source: Supreme Court Cases, © 2023 Eastern Book Company. The text of this version of
this judgment is protected by the law declared by the Supreme Court in Eastern Book Company v. D.B.
Modak, (2008) 1 SCC 1 paras 61, 62 & 63.
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