A Significant Legal Conundrum in Section 7 under the Insolvency and Bankruptcy Code, 2016
by Mridul Chitransh* and Milan Asati**
Section 7 of IBC
IBC – Section 7(5)(a) | NCLT “may” reject Financial Creditor’s CIRP application even in case of Corporate Debtor’s default in payment of debt
Supreme Court: The bench of Indira Banerjee* and JK Maheshwari, JJ has rejected the view of NCLT and NCLAT that once it