Authority: Supreme Court of India, Civil Appellate Jurisdiction
Order Date: 24 June 2026
Case Overview
- Parties: Appellant – M/S Raghava Square Private Limited; Respondents – M/S IVRCL Limited & others.
- The appellant sought the release of Rs 50 crore + Rs 100 crore (total Rs 150 crore) that had been deposited with the Official Liquidator.
- The matter was heard before a two‑judge bench comprising Justice B.V. Nagarathna and Justice Joymalya Bagchi.
- Senior counsel for the appellant was Dr. Abhishek Singhvi; senior counsel for the respondents (liquidator) was Dhruv Mehta, along with a team of advocates.
- The auction of the assets was scheduled for 24‑06‑2026, with the possibility of being held on any other date.
Final Outcome
- The Court ordered that the sum of Rs 150 crore deposited by the appellant with the Official Liquidator be refunded and released to the appellant within four weeks from the date of the order.
- The Court clarified that any reference to the Chairperson for release of the amount is now academic.
- The Court did not interfere with the impugned order and permitted a fresh auction to take place.
- The appellant was granted liberty to participate in the fresh auction; this liberty remains effective irrespective of the actual auction date.
- The order was digitally signed by Justice B.V. Nagarathna on 25‑06‑2026 16:42:38 IST, though the heading of the order indicates New Delhi; 24 June 2026.
Topics: Insolvency, Court Order