Pre-packaged insolvency resolution: timely filed pre-pack applications take priority over competing insolvency filings; late filings defer to earlier ones. Section 11A prescribes the order in which the Adjudicating Authority must dispose of competing insolvency applications: a pending section 54C PPIRP must be admitted or rejected before other section 7, 9 or 10 applications are considered; a section 54C application filed within a short statutory period after a section 7, 9 or 10 filing takes precedence and must be disposed of first; a section 54C filed after that period yields to earlier section 7, 9 or 10 applications; and the section is inapplicable where a section 7, 9 or 10 application was pending at the ordinance's commencement.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Pre-packaged insolvency resolution: timely filed pre-pack applications take priority over competing insolvency filings; late filings defer to earlier ones.
Section 11A prescribes the order in which the Adjudicating Authority must dispose of competing insolvency applications: a pending section 54C PPIRP must be admitted or rejected before other section 7, 9 or 10 applications are considered; a section 54C application filed within a short statutory period after a section 7, 9 or 10 filing takes precedence and must be disposed of first; a section 54C filed after that period yields to earlier section 7, 9 or 10 applications; and the section is inapplicable where a section 7, 9 or 10 application was pending at the ordinance's commencement.
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