Section 9 of the IBC

national company law appellate tribunal
Case BriefsTribunals/Commissions/Regulatory Bodies

A mere availability of arbitration or any other proceeding could not preclude the operational creditor from initiating proceedings under Section 9 of the IBC. The critical question would be whether the application was filed within the limitation period.

national company law appellate tribunal
Case BriefsTribunals/Commissions/Regulatory Bodies

“The Proceedings under the IBC, 2016, are summary in character and a trial is not conducted, like that of ‘Civil’ matter, before the ‘Competent Civil Court’.”