IBC | Mere Pendency of Restructuring Cannot Stall CIRP: Supreme Court
In a significant ruling reinforcing the creditor-centric framework of the Insolvency and Bankruptcy Code, 2016 (IBC), the Supreme Court has clarified that the mere existence or pendency of a restructuring proposal does not bar the initiation of Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Code.