Insolvency admission orders under the IBC apply to the Corporate Debtor as a whole, not just one project.

An insolvency admission order under the Insolvency and Bankruptcy Code, 2016 operates against the Corporate Debtor as a whole and cannot be confined to a single project unless the statute expressly permits that limitation. The Supreme Court accepted that a project-specific restriction on a Section 7 order was unsustainable, because the insolvency process is directed at the Corporate Debtor collectively rather than one isolated undertaking. The challenge to confine the order to one project therefore failed, and the appeal was dismissed, with the parties left free to pursue their contentions in the pending proceedings.

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Issues: Whether an order under Section 7 of the Insolvency and Bankruptcy Code, 2016 could be confined only to one project of the Corporate Debtor.

Analysis: The Court accepted the view that an order passed under Section 7 is not limited to a single project of the Corporate Debtor. The insolvency process under the Code operates against the Corporate Debtor as a whole, and the project-specific limitation suggested on behalf of the appellant was not accepted.

Conclusion: The order under Section 7 cannot be confined only to one project of the Corporate Debtor, and the challenge failed.

Final Conclusion: The appeal was dismissed, while the parties were left at liberty to raise their contentions in the pending proceedings.

Ratio Decidendi: An insolvency order under Section 7 of the Insolvency and Bankruptcy Code, 2016 operates against the Corporate Debtor and cannot be restricted to a single project unless the statute so provides.

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