Patna HC: Disciplinary Authority Cannot Impose Major and Minor Penalties in a Single Order  ||  Calcutta HC: Landlord Decides His Residential Needs; Courts Cannot Set Living Standards in Eviction  ||  Orissa HC: Second Marriage During Subsistence of First Remains Invalid Even After First Wife's Death  ||  Karnataka HC: Appeals Against Acquittal in Bailable Offences Lie Only Before High Court  ||  Supreme Court: Stamp Duty on an Agreement to Sell is Leviable Only if Possession is Transferred  ||  SC: Motive Becomes Irrelevant When Direct Evidence Such as a Dying Declaration is Available  ||  Supreme Court Issues Directions to CoC in Builder Insolvency Cases To Protect Homebuyers’ Interests  ||  MP High Court: Women Retain Reservation Benefits After Marriage if Caste is Recognized in Both States  ||  Allahabad HC: Police Must Prosecute Informants of False Firs, and IOs May Face Contempt if They Fail  ||  MP HP: Over-Age Candidate Cannot Claim Age Relaxation Due to Delay in Earlier Recruitment    

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