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SC: Retrospective Bar Against Initiation of CIRP Applies to Applications Filed from 25 March 2020 - (11 Feb 2021)

INSOLVENCY

Supreme Court has held that Section 10A of the Insolvency and Bankruptcy Code, 2016 barred filing of applications for the commencement of the Corporate Insolvency Resolution Procedure/CIRP in respect of a corporate debtor for a default occurring on or after 25 March 2020, even if such application was filed before the date on which the amendment came into force i.e. 5 June 2020.

Tags : SC   RETROSPECTIVE BAR  

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