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IBC - Highlights / Catch Notes

Home Highlights May 2023 Year 2023 This

Initiation of CIRP - NCLT admitted the application - NPA - the ...

Insolvency and Bankruptcy

May 4, 2023

Initiation of CIRP - NCLT admitted the application - NPA - the plea of the Appellant regarding violation of the RBI Guidelines on Priority Sector Landing cannot be allowed to affect the fate of the application filed under Section 7 of the Code. It is for the Appellant to seek necessary remedies, if any and if required against the Respondent No. 1 for violation of Master Circular of RBI regarding Priority Sector Landing at appropriate forum in accordance with the law. - AT

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