Application for intervention filed by an unfortunate financial ...

Financial Creditor Seeks Supreme Court Nod to Resume CIRP Amidst Delays Despite NCLAT Order Favoring Section 7 IBC.

June 10, 2023

Case Laws Insolvency and Bankruptcy SC

Application for intervention filed by an unfortunate financial creditor - As on today, both CIRPs are on hold. This is despite the fact that the order passed in favour of the proposed intervenor in his own application under Section 7 IBC, by the NCLAT has attained finality and there is no impediment for the CIPR initiated by the proposed intervenor to proceed further - It is understandable that if the CIRP initiated by the respondent in the above civil appeal is on track. If it is not on track, at least the other CIPR should be allowed to proceed. The Corporate Debtor cannot be allowed to have benefit of the best of both the worlds. - SC

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Application for intervention filed by an unfortunate financial ...

Financial Creditor Seeks Supreme Court Nod to Resume CIRP Amidst Delays Despite NCLAT Order Favoring Section 7 IBC.

June 10, 2023

Case Laws Insolvency and Bankruptcy SC

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