https://www.taxtmi.com/caselaws?id=346565 The judgment clarified that financial creditors are entitled to trigger the insolvency resolution process under the Insolvency and Bankruptcy Code, 2016, without explicit restrictions unless falling under specific clauses. It emphasized the National Company Law Tribunal's jurisdiction over other laws, stating that the Code prevails in case of inconsistency. The judgment also highlighted that the pendency of winding up proceedings does not bar initiating or continuing insolvency processes unless a winding up order has been issued. Additionally, it emphasized the importance of clarity and consistency in judicial decisions to avoid conflicting orders between different forums. en-us Tue, 18 Jul 2017 00:00:00 +0530 Wed, 03 Jan 2018 12:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346565 The judgment clarified that financial creditors are entitled to trigger the insolvency resolution process under the Insolvency and Bankruptcy Code, 2016, without explicit restrictions unless falling under specific clauses. It emphasized the National Company Law Tribunal's jurisdiction over other laws, stating that the Code prevails in case of inconsistency. The judgment also highlighted that the pendency of winding up proceedings does not bar initiating or continuing insolvency processes unless a winding up order has been issued. Additionally, it emphasized the importance of clarity and consistency in judicial decisions to avoid conflicting orders between different forums. Case-Laws Insolvency and Bankruptcy Tue, 18 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346565