Read the article “Analyzing the Conundrum vis-a-vis NCLT’s Power to admit CIRP Applications” authored by our Partner, Ketan Mukhija, and intern, Ishika Rajoria published on Mondaq.
“The decision of the Supreme Court in Vidarbha has become a landmark judgment and made a way for fresh defense that can be availed by the corporate debtor against initiation of insolvency proceedings against it by a financial creditor. Further, the judgment upheld that Section 9(5)(a) of the IBC is mandatory provision whereas Section 7(5)(a) of the IBC is discretionary one.”
Read the full article here.
The article has also been published as follows: