Legal Updates

 

Legal Updates on IBC- By NCLT Lawyer in Supreme Court, Delhi

Supreme Court reiterates that once NCLT is satisfied that default has occurred, there is hardly a discretion left with NCLT to refuse admission of the CIRP application u/s 7 IBC.

Supreme Court further clarified  that by the order in review that the decision in the case of Vidarbha Industries  was in the setting of facts of the case before this Court. 

Hence, the decision in the case of Vidarbha Industries  cannot be read and understood as taking a view which is contrary to the view taken in the cases of Innoventive Industries and E.S. Krishnamurthy . The view taken in the case of Innoventive Industries   still holds good. 

Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast
Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast