Real judgements, distilled

Legal Case Shots

Court judgements broken down into the case type, how the decision played out, and the lesson worth remembering, with the full judgement available as a PDF.

Frequently asked questions

Is this suitable for use in legal research and court filings?+

Legal Case Shots is built to help you quickly identify and understand relevant precedent. For citation in pleadings or filings, always verify against the full judgment PDF and current citation format (e.g., 2026 INSC ___).

How is a "lesson learnt" different from the judgment's holding?+

The holding is what the court legally decided. The lesson learnt translates that into a practical takeaway: what a lawyer should factor into case strategy or client advice as a result of this precedent.

Is the full judgment available, or just a summary?+

Both. Each case shows a distilled summary (case type, key holding, and lesson learnt) and links to the full judgment as a PDF for when you need the complete text for research or citation.

Can I filter judgments by date or case type?+

Yes. Use Advanced Filters to narrow results by decision date and by practice area, including Constitutional Law, Criminal Law, Service & Administrative Law, Family Law, Civil Property & Inheritance, and Labour & Industrial Law.

Can I search judgments by a specific judge?+

Yes. You can filter judgments by the judge or bench that decided the case, which is useful for tracking how a particular judge has reasoned on similar issues across multiple rulings.

What is Legal Case Shots?+

Legal Case Shots is a searchable database of Supreme Court of India judgments, each broken down into the case type, the court's key holding, and a practical lesson learnt, with the full judgment available as a PDF for citation or deeper reading.

Company & Insolvency LawSupreme Court of India

Sandeep Khaitan, Resolution Professional for National Plywood Industries Ltd. v. JSVM Plywood Industries Ltd. & Anr.

Criminal Appeal · 2021 INSC 268Decided 22 Apr 2021
Criminal Appeal No. 447 of 2021
Justice Uday Umesh Lalit · Justice K.M. Joseph

Background

After insolvency proceedings began against National Plywood Industries Ltd. and a Resolution Professional (the appellant) was appointed, the company's former management allegedly transferred Rs. 32.50 lakhs out of the corporate debtor's account to JSVM Plywood Industries (an operational creditor) in violation of the moratorium that freezes a company's assets during insolvency resolution. The Resolution Professional got an FIR registered over this transaction, following which the bank froze JSVM's account. JSVM challenged the FIR under Section 482 of the CrPC before the Guwahati High Court, which used its inherent powers to let JSVM operate its frozen bank account, subject to conditions, without requiring the disputed money to first be returned to the corporate debtor.

Decision Breakdown

The Supreme Court held that the High Court, in granting interim relief under Section 482 CrPC, had overlooked the limits on its own inherent powers and had effectively allowed a breach of the statutory moratorium under Sections 14 and 17 of the IBC, which exists specifically to preserve a corporate debtor's assets intact during resolution. Inherent power to secure "the ends of justice" cannot be used to sanction undermining a clear statutory mandate. The Court modified the High Court's order to allow JSVM to operate its account only after first remitting the Rs. 32.50 lakhs back into the corporate debtor's account, while clarifying that this did not decide the merits of the pending FIR/Section 482 petition or JSVM's right to separately pursue its own claim to that money through proper insolvency channels.

Lesson Learnt

Once a company enters formal insolvency resolution, the moratorium freezing its assets is a strict statutory protection that courts, even using their inherent "ends of justice" powers, cannot casually bypass; anyone who received disputed funds from a company under moratorium may be required to return them first before being allowed to use them, leaving their underlying claim to be resolved separately through the proper process.

Sandeep Khaitan, Resolution Professional for National Plywood Industries Ltd. v. JSVM Plywood Industries Ltd. & Anr. – Legal Case Shots | LegalAware