Case Study: IBC 2016

Last updated: 06 March 2023
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This case study examines a corporate debtor's default to a foreign bank and the subsequent legal proceedings under the Insolvency and Bankruptcy Code (IBC), 2016. It details how initial applications to the NCLT and NCLAT were rejected due to non-compliance with Section 9(3)(c) and the format of the demand notice. The Supreme Court ultimately overruled these decisions, clarifying that the certificate requirement is directory, not mandatory, and that lawyers can issue demand notices. This analysis is valuable for legal professionals and businesses navigating IBC procedures.

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Submitted by · Posted 06 March 2023 · Other files by FCS Deepak Pratap Singh · Report
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