Section 100 IBC Archives

SARFAESI Act | Writ remedy not maintainable where efficacious DRT remedy available against sale of mortgaged property: Bombay HC

The High Court held that in view of the alternative, efficacious statutory remedy under the SARFAESI Act, the writ petition was not maintainable and the question of law raised under the IBC was nothing but another desperate attempt to avoid steps being taken by the secured creditor under the SARFAESI Act.

Case Briefs Tribunals/Commissions/Regulatory Bodies

Section 99 IBC Resolution Professional’s report not mandatory where guarantor status admitted: NCLAT Chennai upholds Section 95 IBC application

“…the provisions of Section 99 of the Insolvency and Bankruptcy Code, 2016, are procedural and are only for the purposes of recommending for approval or rejection of the application, where the recommendation would have to be based upon the facts and evidence presented to the Resolution Professional or collected by him under the powers conferred upon him to call for records and evidence.”