Bar under section 14 IBC extends to any action of enforcement of any security interest created by the corporate debtor, including any action under the SARFAESI Act: Supreme Court affirms

Quite recently, a two Judges’ bench of the Hon’ble Apex Court in Indian Overseas Bank v. M/s. RCM Infrastructure Ltd. & Anr., Civil Appeal No. 4750/2021 (dated 18.05.2022), inter alia, determined on the issue of applicability of provisions under Section 14 of the Insolvency and Bankruptcy Code, 2016/ IBC/ Code to a proceeding initiated in terms of the SARFAESI Act, in particular, auction sale.

Filed under:
India, Insolvency & Restructuring, Litigation, Clasis Law
Authors:
Varun Sharma
Location:
India
Firm:
Clasis Law