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of <h1>Corporate Insolvency Resolution Must Consider Entire Business Operations, Not Just Single Project Under IBC Section 7</h1> <h3>HARPAL SINGH CHAWLA Versus VIVEK KHANNA & ORS.</h3> HARPAL SINGH CHAWLA Versus VIVEK KHANNA & ORS. - TMI The Supreme Court, through Hon'ble Justices Abhay S. Oka and Augustine George Masih, upheld the National Company Law Appellate Tribunal's (NCLAT) interpretation regarding Section 7 of the Insolvency and Bankruptcy Code, 2016. The Court held that an order under Section 7 'cannot be confined only to one project of the Corporate Debtor (CD).' Consequently, the appeal was dismissed, while explicitly leaving 'all contentions of the parties in the pending proceedings... open.' Pending applications were disposed of.
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