Whether the provisions of Section 10A of IBC stand attracted to an application under Section 9 of IBC?

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Last updated: 01 March 2021
Quick Summary
This Supreme Court judgement addresses whether Section 10A of the Insolvency and Bankruptcy Code (IBC), which prevents the initiation of insolvency proceedings for defaults occurring on or after 5 June 2020, applies to applications filed under Section 9. The Court examined if this provision could render an operational creditor's application non-maintainable. The case involved a claim for a significant sum due to the appellant following his resignation from his role as Chairman and Managing Director.

Court :
Supreme Court of India

Brief :
The appellate jurisdiction of this Court under Section 62 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) has been invoked to challenge the judgement and order of the National Company Law Appellate Tribunal (“NCLAT” or “Appellate Tribunal”) dated 19 October 2020.

Citation :
Civil Appeal No. 4050 of 2020

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