The latin maxim, nulluscommodumcaperepotest de injuria sua propria, will apply to the present case also. The Financial Creditor cannot be allowed to take advantage of its own wrong – IDBI Bank Ltd. Vs. Abhijeet Integrated Steel Ltd. – NCLT Kolkata Bench
In the case of State Bank of India v N. S. Engineering Projects Private Limited (2022) ibclaw.in 631 NCLT, we have taken the view that having contributed towards the default by their own conduct, the Financial Creditor cannot be allowed to maintain a section 7 application against the Corporate Debtor. The findings in that case will apply on all fours in a fact-situation such as the present case. Therefore, we have no hesitation in holding that in the present case also, the present section 7 application deserves to be dismissed on the ground of contributory role played by the Financial Creditor, forcing the default on the part of the Corporate Debtor. The latin maxim, nulluscommodumcaperepotest de injuria sua propria, will apply to the present case also. The Financial Creditor cannot be allowed to take advantage of its own wrong.