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Conundrum of Limitation Period under IBC and Inapplicability of the Doctrine of Election
Recently the Supreme Court in the case of Tottempudi Salalith v State Bank of India & Ors.[1] (Tottempudi Salaith) held that the doctrine of election cannot be applied to prevent a financial creditor to approach the National company law tribunal (NCLT) for initiating a Corporate Insolvency Resolution Process (CIRP) against the corporate debtor under Section … Continue reading Conundrum of Limitation Period under IBC and Inapplicability of the Doctrine of Election
Read more »IBC (Insolvency and Bankruptcy Code, 2016) – The Bankruptcy Law of India
It is better to have one codified legislation than multiple to deal with the aspects of a company which can have a singular umbrella. This is the exact rationale for the existence of The Insolvency and Bankruptcy Code in India which has been into effect since 2016. IBC came into being repealing SICA (Sick Industrial … Continue reading IBC (Insolvency and Bankruptcy Code, 2016) – The Bankruptcy Law of India
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