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HomeCompany & PMLAIBC Can’t Be Used as a Recovery Tool for Enforcing Money Decrees:...

IBC Can’t Be Used as a Recovery Tool for Enforcing Money Decrees: Supreme Court Quashes CIRP Against Solvent Company

Company & PMLASupreme Court

Published on

By Mariya Paliwala
Supreme Court

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The Supreme Court has held that insolvency proceedings cannot be invoked as a substitute for execution of a money decree and set aside the initiation of Corporate Insolvency Resolution Process (CIRP) against a solvent company, terming it an abuse of the insolvency framework. The bench of Justice Pamidighantam Sri Narasimha and Justice Alok Aradhe has…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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