Authority: Supreme Court of India
Order Date: 25-08-2026
Case Overview
- Civil Appeal No.11355/2025 filed by MAA MANASHA DEVI ALLOYS PRIVATE LIMITED (appellant) against DEVIKA RESOURCES PRIVATE LIMITED (respondent) under IA No.200766/2025 (stay application).
- Hearing held on 25-08-2026 before Hon'ble Justices J.B. Pardiwala and K. Vinod Chandran.
- Counsel for appellant: Mr. Dhananjay Bhaskar Ray, AOR Mr. Shailaditya Gopalkrishna.
- Counsel for respondent: Mr. Kanishk Khetan, AOR Mr. Akshay Goel.
- Appellant states readiness to make the entire payment but has no instruction regarding payment of CIRP (Corporate Insolvency Resolution Process) costs; seeks discussion on CIRP costs with the operational creditor.
- The petitioner (Corporate Debtor) is ready and willing to settle the matter with the operational creditor.
Order Details
1. Parties directed to discuss CIRP costs.
2. Parties ordered to appear before the Supreme Court Mediation Centre on 18-09-2026 at 11:00 a.m. to reduce the Settlement Agreement in writing.
3. The Supreme Court Mediation Centre is requested to submit its report to the Court as expeditiously as possible.
4. The matter will be listed immediately after receipt of the Mediation Report.
Final Outcome
- The Court issued procedural directions mandating mediation on 18 September 2026, a prompt report from the Mediation Centre, and subsequent listing of the case, thereby facilitating a potential settlement between the corporate debtor and the operational creditor.
Topics: Mediation, Insolvency Settlement