Patna HC: Possessing Cough Syrup With under 2.5% Codeine Without Authorisation Attracts the NDPS Act  ||  Madras HC: Person Who Converts to Islam Cannot Claim Backward Class Muslim Status  ||  Madras High Court Lays Down Guidelines For Surrogacy Custody and Parentage Applications  ||  Bombay High Court: Residence Proof is Mandatory For RTE Neighbourhood School Admissions  ||  Madras HC Strikes Down TN Law Mandating Registrar’s Title Verification Before Property Registration  ||  Bombay HC Allows Galli News to Report Medical Negligence But Bars Defamatory Hospital Imputations  ||  Supreme Court: Parents’ Loss Cannot Be Measured With Arithmetical Precision  ||  Supreme Court: Registered Sale Deed Remains Valid Despite Minor Attestation Discrepancies  ||  Calcutta High Court: Section 107 BNSS Property Attachment Cannot be Used as a Recovery Tool  ||  Ker HC: Elected Representatives Must Swear by God or Affirm, Cannot Invoke Specific Deities in Oath    

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