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SC: Certificate of Recovery in Favour of Financial Creditor Gives Fresh Cause to Initiate CIRP - (05 Aug 2021)

INSOLVENCY

Supreme Court has observed that a judgment and/or decree for money in favour of the Financial Creditor, or the issuance of a Certificate of Recovery in its favour, would give rise to a fresh cause of action for the Financial Creditor, to initiate proceedings under Section 7 of the Insolvency and Bankruptcy Code, 2016 for initiation of the Corporate Insolvency Resolution Process.

Tags : SUPREME COURT   CERTIFICATE OF RECOVERY IN FAVOUR OF FINANCIAL CREDITOR  

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