IBC| Inconsistent position taken in the Vidarbha Industries verdict? Supreme Court issues notice
Case BriefsSupreme Court

The petitioner alleged that the National Company Law Appellate Tribunal had relied upon the decision of Vidarbha Industries, which even though was clarified in review petition of Axis Bank but was still contrary to the settled position in law laid down in Innoventive Industries. Tushar Mehta, Solicitor General contended that the principle enunciated in Vidarbha Industries would be liable to dilute the substratum of the Code.