In the blog post titled ‘Vidarbha Aftermath’, the decision of the Supreme Court of India (“Supreme Court”) in Vidarbha Industries Power Limited v. Axis Bank Limited[1] (“Vidarbha”) was discussed and analysed.
India, Banking, Insolvency & Restructuring, Litigation, Cyril Amarchand Mangaldas, Insolvency and Bankruptcy Code (India), Supreme Court of India, National Company Law Tribunal
On July 12, 2022, the Supreme Court of India (“Supreme Court”) passed a judgment in Vidarbha Industries Power Limited v. Axis Bank Limited[1] (“Vidarbha”), which considered the question whether Section 7(5)(a) of the Insolvency and Bankruptcy Code, 2016 (“Code”), is mandatory or discretionary in nature.
India, Arbitration & ADR, Insolvency & Restructuring, Litigation, Cyril Amarchand Mangaldas, Mediation, Companies Act 2013 (India), Insolvency and Bankruptcy Code (India), Supreme Court of India, National Company Law Tribunal