Initiation of CIRP - It is a settled legal position that the pendency of SARFAESI proceeding or other dispute does not prevent a Financial Creditor to trigger the CIRP because the nature of remedy being sought for under the provisions of the IB Code is “Remedy in Rem” in respect of the CD - Tri
Initiation of CIRP - It is a settled legal position that the pendency of SARFAESI proceeding or other dispute does not prevent a Financial Creditor to trigger the CIRP because the nature of remedy being sought for under the provisions of the IB Code is “Remedy in Rem” in respect of the CD - Tri
Note: It is a system-generated summary and is for quick reference only.
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