Insolvency and Bankruptcy – Application of Section 30(2)(b)(ii) of the Insolvency and Bankruptcy Code, 2016 (IBC) to dissenting financial creditors – Entitlement to payment not less than the liquidation value of their security interest – Applicability of the IBC (Amendment) Act, 2019 to pending proceedings and appeals. [Para 22, 23, 24]

Secured Creditors – Different treatment of secured financial creditors based on the nature of their security – Protection of minority autonomy of creditors under Section 30(2)(b)(ii) of the IBC – Requirement for payment to dissenting financial creditors equivalent to their security interest value. [Para 25, 26, 27]

Committee of Creditors (CoC) – Authority to decide the distribution of resolution proceeds – Commercial wisdom of CoC respected – Minimum payment protection for operational creditors and dissenting financial creditors under Section 30(2)(b)(ii). [Para 25, 30, 35, 36]

Legal Interpretation – Interpretation of Section 30(2)(b)(ii) and its application to dissenting financial creditors – Ensuring fair and equitable treatment in the resolution process – Dissenting financial creditors entitled to liquidation value of their security interest. [Para 33, 34, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49]

Judicial Discrepancy – Contradiction in judicial reasoning in India Resurgence ARC Private Limited case – Referral to a larger bench for clarification on the interpretation of Section 30(2)(b)(ii) of the IBC. [Para 31, 37, 49]

Decision – Resolution plan approval by NCLT and NCLAT challenged – Dissenting creditor’s claim for liquidation value of security interest under scrutiny – Matter referred to a larger bench for definitive interpretation of Section 30(2)(b)(ii) of the IBC. [Para 17, 18, 49]

Judicial Discipline and Precedent - Importance of adhering to judicial discipline and doctrine of precedents emphasized - Binding nature of decisions of co-equal benches of the same High Court, subject to the right to refer to a larger bench - Ensures certainty and consistency in judicial decisions. [Para 1]

Property Rights Dispute - Appeal against the judgment of the Madurai Bench of the Madras High Court - Original suit filed for declaration of title, possession, and permanent injunction - Initial suits and appeals culminated in a High Court decision, deemed final. [Paras 2-4]

Property Possession and Title - Trial Court's partial decree and subsequent modifications by the appellate courts - Controversy over whether the High Court's earlier decision covered the entire property or only a part - Issue of interpreting the scope of the previous High Court judgment. [Paras 5-12]

Doctrine of Merger - Legal principle that lower court judgments merge into the appellate court's decision - Ensures a single operative order on a subject matter - Trial Court and First Appellate Court decisions merged with the High Court's decision in the first round of litigation. [Paras 13, 17]

Judicial Discipline Violation - High Court's second round decision seen as contrary to its own previous judgment - Accusations of breaching judicial discipline by not adhering to the established facts and conclusions of the earlier judgment. [Paras 14-16, 20]

Property Boundaries and Possession Claims - Analysis of the Trial Court and First Appellate Court judgments in the context of property boundaries and possession claims - Clarification of the property in dispute and the basis of possession claims. [Paras 22-23]

Decision - Supreme Court allows the appeal - Sets aside the impugned judgment of the High Court and restores the judgment of the First Appellate Court dated 13.10.2003 - Upholds the principle of judicial discipline and correct interpretation of prior judgments. [Paras 24-25]

Abduction and Attempted Murder – Neeraj Sharma and Ashwani Kumar Yadav convicted for abduction and attempted murder of Arjit Sharma (PW-6) - Incident involved choking the victim with a motorcycle clutch wire, setting him on fire, and robbing him - Victim sustained 45-48% burns leading to amputation of his right leg [Paras 2-3, 9-10].

Conviction and Sentence – Trial court convicted appellants under Sections 307/120B, 364-A, and 392/397 IPC, sentencing them to life imprisonment under Section 364-A IPC for attempted murder - High Court upheld the conviction and sentence [Para 2].

Evidence and Witness Testimonies – Reliance on the victim’s testimony (PW-6), medical evidence (PW-4, PW-9), and other witnesses - Complainant's testimony crucial, corroborated by medical evidence of severe burn injuries and witness accounts [Paras 4, 8-10].

Questioning Section 364-A Conviction – Supreme Court analyzed the applicability of Section 364-A IPC (kidnapping or abduction with ransom demands) - Found prosecution failed to establish a ransom demand, crucial for Section 364-A - Conviction under Section 364-A IPC set aside [Paras 12-16].

Conversion of Conviction – Supreme Court converted the conviction from Section 364-A to Section 364 IPC (kidnapping or abducting to murder) - Sentenced appellants to rigorous imprisonment of ten years and a fine of Rs. 10,000 each under Section 364 IPC [Para 17].

Compensation to Victim – Directed State of Chhattisgarh to pay Rs. 5,00,000 as compensation to the victim under Section 357A of Cr.PC - Acknowledged the severe impact on the victim’s life [Para 20].

Decision – Convictions under Sections 307/120B and 392/397 IPC affirmed, but conviction under Section 364-A IPC set aside and replaced with Section 364 IPC. Appellants sentenced to ten years' rigorous imprisonment and a fine, with compensation awarded to the victim.

Murder and Concealment of Evidence – Conviction Affirmed by Supreme Court – Appellant Perumal Raja @ Perumal convicted for murder of Rajini @ Rajinikanth under Section 302 and Section 201 of the IPC – High Court's judgment affirming conviction upheld – Conviction based on circumstantial evidence including recovery of deceased’s body parts and belongings, and superimposition report confirming identity. [Para 2, 3, 31]

Circumstantial Evidence – Principles for Conviction – Conviction based on circumstantial evidence requires satisfaction of the 'panchsheel' principles – Circumstances must point only towards the guilt of the accused, forming a conclusive chain that excludes every hypothesis except guilt. [Para 37]

Section 27 of the Evidence Act – Admissibility of Statements Leading to Discovery – Statements made by the appellant leading to recovery of evidence admissible under Section 27 of the Evidence Act – Statements must directly relate to and lead to discovery of a fact. [Para 19, 20, 22, 25, 30]

Absence of Direct Eyewitnesses – Reliance on Recovery and Forensic Evidence – In absence of eyewitnesses, conviction based on recoveries made from appellant's disclosure, forensic evidence, and superimposition report – Recovery of body parts and belongings crucial in establishing guilt. [Para 32, 33, 34, 35, 36]

False Explanation by Accused – Consideration as an Additional Link in Circumstantial Evidence – Appellant's false explanation considered as an additional link in the chain of circumstantial evidence, reinforcing the conclusion of guilt. [Para 38, 39, 40]

Acquittal of Co-accused – Different Evidentiary Standards – Acquittal of co-accused not impacting appellant's conviction – Co-accused acquitted due to lack of direct evidence implicating them. [Para 43]

Decision – Supreme Court Upholds High Court’s Judgment – Appellant Perumal Raja @ Perumal’s conviction for murder and concealment of evidence affirmed – Appeal dismissed, maintaining life imprisonment and fines as sentenced. [Para 45]

Property Dispute – Suit for Declaration and Injunction – Dismissal of suit by Trial Court and First Appellate Court upheld; High Court's decision reversing their findings set aside – Plaintiffs failed to prove oral partition and will as per statutory requirements – Appeal allowed. [Paras 2, 3, 6-8, 12-15]

Evidence – Burden of Proof – Plaintiffs unable to substantiate claim of oral partition and execution of will in favor of plaintiffs – Reliance on unconnected documents insufficient to establish oral partition or plaintiffs' ownership. [Paras 6, 12, 13]

Partition – Oral Partition – Requirement of Proof – Oral partition not established through credible evidence – High Court's reliance on unrelated sale and mortgage deeds to conclude oral partition erroneous. [Para 10, 12, 13]

Will – Execution and Proof – Plaintiffs' claim based on will not established as per Section 68 of Indian Evidence Act, 1872 and Section 63 of Indian Succession Act, 1956 – Trial Court and First Appellate Court's findings on lack of proof upheld. [Para 6]

Civil Procedure – Second Appeal – High Court's interference in factual findings of lower courts found unwarranted – High Court's judgment set aside for not conforming to the scope of Section 100 of CPC and for being perverse in appreciating evidence. [Paras 10, 14]

Decision – High Court's judgment in favor of plaintiffs set aside – Trial Court and First Appellate Court's dismissal of suit confirmed – Appeal allowed with no order as to costs. [Para 15]

Insurance Policy – Commencement Date Determination – Interpretation of insurance policy terms to ascertain the effective date of policy commencement – Focus on the dates of policy issuance, premium payment, and risk acceptance in determining policy start date. [Para 2-4, 9-11]

Suicide Clause in Insurance Policy – Application of suicide clause in life insurance policies – Analysis of policy terms regarding suicide within 12 months of policy issue or reinstatement – Importance of policy reinstatement date in determining the applicability of the suicide clause. [Para 5, 6, 8]

Policy Reinstatement – Impact on Suicide Clause – Consideration of policy reinstatement in the context of suicide clause enforcement – Determination of policy effectiveness from the reinstatement date in cases of lapsed and subsequently reinstated policies. [Para 6, 8]

Judicial Interpretation of Insurance Contracts – Adherence to Contractual Terms – Emphasis on strict interpretation of insurance policy terms and conditions – Importance of honoring specific expressions and dates mentioned in the policy contract. [Para 12-14]

Decision – Setting Aside Lower Forum Orders – Supreme Court's decision to set aside orders of the District Forum, State Commission, and National Commission based on misinterpretation of policy commencement and suicide clause – Appeals allowed, rejecting the claims of the respondents. [Para 15-16]

Negotiable Instruments Act – Section 138 – Conviction and Sentence – Appellant and intervenor convicted under Section 138 of the Negotiable Instruments Act – Sentenced to ten months of simple imprisonment and directed to pay a total of Rs. 5 crores in three cases – Conviction and sentence affirmed by the Sessions Court and High Court [Paras 1-5, 7].

Bail and Suspension of Sentence – Violation of Undertaking – High Court cancelled bail and suspension of sentence due to non-compliance with financial obligations under an undertaking – Appellant and intervenor failed to pay the agreed amount of Rs. 4.63 crores as per the payment schedule – High Court's order upheld by Supreme Court [Paras 4, 9-12, 17, 19].

Inter Se Agreement – Payment Proportions – Appellant and intervenor's internal agreement on payment proportions (60:40) not binding on the complainant – Dispute over the outstanding amount to be settled between appellant and intervenor – Supreme Court refrains from adjudicating on inter se payment dispute [Paras 13-16].

High Court's Discretion – Enforcement of Undertaking – Supreme Court emphasizes High Court's discretion in enforcing compliance with the undertaking – Orders compliance with original terms of settlement and directs coercive measures if necessary [Paras 18-20].

Decision – Appeal Dismissed – Supreme Court dismisses the appeal with costs of Rs. 5 lakhs payable to respondent No. 2 (complainant) – Appellant and intervenor directed to surrender within four weeks – High Court to proceed with pending revisions and applications ensuring full compliance with the undertaking [Paras 19-21].

Separation of Powers – High Court’s Power to Direct Notification of Rules Proposed by Chief Justice – Inadequate power under Article 229 to frame rules for post-retiral benefits of former judges – High Court, acting on judicial side, cannot compel the executive to exercise rule-making power as directed. [Para 24-30]

Criminal Contempt – Inappropriateness of Initiating Criminal Contempt for Legal Challenges – Recall application by State Government not contemptuous – Distinction between civil and criminal contempt – High Court's action in hastily invoking criminal contempt and custody of officials not justified. [Para 31-37]

Summoning Government Officials – Guidelines and Limitations – Inappropriate frequent summoning of government officials – Reliance on law officers instead of direct summoning – Framing of Standard Operating Procedure for appearance of government officials in court. [Para 38-45]

Decision – Impugned Orders Set Aside – Appeals allowed – High Court directed to reconsider the writ petition in light of observations made – Communication of judgment to all High Courts for framing rules based on SOP. [Para 46-49]

Criminal Appeal – Default Bail – Misapplication of Default Bail Provision by High Court – Supreme Court reverses the High Court's decision granting default bail to the respondent under Section 167(2) of CrPC – High Court's error in applying provisions of TADA instead of UAPA noted. [Paras 2, 4-5, 9, 14]

Unlawful Activities (Prevention) Act (UAPA) – Distinct Provisions for Extension of Investigation Period – Section 43D(2)(b) of UAPA allows extension of investigation period under specific conditions – High Court failed to apply these specific provisions in granting default bail. [Paras 5-7, 10]

Investigation Extension – Valid Reasons Required – Importance of specific reasons like pending sanctions and FSL report for extending investigation period beyond 90 days under UAPA – High Court's oversight in assessing the validity of reasons for extension. [Paras 3.3, 8, 10-11]

Terrorism – Seriousness of Offences Involving Terrorism – Supreme Court emphasizes the gravity of offences involving terrorism with national and international implications – Necessity of careful judicial consideration in such cases. [Para 13]

Decision – Reversal of High Court's Order – High Court's order granting default bail set aside due to misapplication of legal provisions and oversight of critical facts – Respondent to be taken into custody. [Para 14]