Bom HC: Civil Court Can Invoke Sec 151 CPC to Dismiss a Suit as Infructuous if Cause of Action Ends  ||  Kerala HC: Arrest Grounds Need Not Be Shared With Foreigner’s Family If FRRO Or Embassy is Informed  ||  Delhi HC Granted Interim Relief to JioStar in a Dispute over Legends League Cricket Broadcast Rights  ||  SC: Dishonour of a Post-Dated Cheque Alone Does Not Establish Dishonest Intent For Cheating  ||  SC: Disciplinary Proceedings Started During Service May Continue After Retirement If Rules Allow  ||  Supreme Court: Earning Interest on a Bank Deposit Does Not Make it a Commercial Purpose  ||  CCI Dismisses Complaint Against Rapido over Use of Private Vehicles in Bike Taxi Service  ||  Allahabad HC: State Must Protect Individuals Threatened for Conducting Prayers in Private Spaces  ||  Madras HC: Habeas Corpus Petition Cannot Be Used if Wife Voluntarily Elopes with Another Man  ||  Calcutta High Court: Post-VRS Service Benefits Cannot be Denied; Ex-Employees Entitled to Arrears    

NCLAT: Pendency of Suit Against Financial Creditor No Bar for Starting Proceedings under Sec 7 IBC - (14 Oct 2019)

INSOLVENCY

National Company Law Appellate Tribunal has ruled that pendency of a suit filed by the corporate debtor against a financial creditor cannot restrain it from starting insolvency proceedings under Section 7 of Insolvency and Bankruptcy Code, 2016. The Tribunal also reiterated that pre-existing dispute cannot be a subject matter of Section 7 although it may be relevant under Section 9 of IBC.

Tags : NCLAT   FINANCIAL CREDITOR  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved