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Insolvency and BankruptcyApril 22, 2023Case LawsHC
Writ petition - Seeking Pre-Packaged Insolvency Resolution Process under the IBC instead of proceeding under the SARFAESI Act - It appears that this writ petition is directed solely as a ploy to delay the further proceedings initiated under the SARFAESI Act which has already been initiated against the petitioner. The SARFAESI Act is a complete code in itself and it has statutory Authorities prescribed for redressal of grievances raised by the petitioner in the writ petition. - HC
Writ petition - Seeking Pre-Packaged Insolvency Resolution Process under the IBC instead of proceeding under the SARFAESI Act - It appears that this writ petition is directed solely as a ploy to delay the further proceedings initiated under the SARFAESI Act which has already been initiated against the petitioner. The SARFAESI Act is a complete code in itself and it has statutory Authorities prescribed for redressal of grievances raised by the petitioner in the writ petition. - HC
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