Supreme Court clarifies discretionary powers of NCLT under Section 7(5)(a) of IBC: Vidarbha Industries vs. Axis Bank (2022)

/ Corporate Insolvency Resolution Process, Indira Banerjee, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 7, Insolvency and Bankruptcy Code, 2016 with Section 7(5)(a), J.K. Maheshwari, Judges

Supreme Court clarifies discretionary powers of NCLT under Section 7(5)(a) of IBC: Vidarbha Industries vs. Axis Bank (2022) LEGAL ISSUE: Whether the National Company Law Tribunal (NCLT) is obligated to admit an application for Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code (IBC) if a debt and default exist, […]

Supreme Court clarifies discretionary powers of NCLT under Section 7(5)(a) of IBC: Vidarbha Industries vs. Axis Bank (2022) Read Post »