https://www.taxtmi.com/caselaws?id=370216 The High Court granted leave to continue with the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, emphasizing the need for a harmonious interpretation of the IBC and the Companies Act, 1956. The judgment highlighted the importance of avoiding parallel proceedings, allowing the CIRP to explore revival possibilities before resorting to liquidation. The Court held that proceedings initiated without leave of the High Court are not void but voidable, ensuring the best interests of the Corporate Debtor and stakeholders are served through a structured and efficient resolution process. en-us Fri, 02 Nov 2018 00:00:00 +0530 Tue, 13 Nov 2018 07:49:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370216 The High Court granted leave to continue with the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, emphasizing the need for a harmonious interpretation of the IBC and the Companies Act, 1956. The judgment highlighted the importance of avoiding parallel proceedings, allowing the CIRP to explore revival possibilities before resorting to liquidation. The Court held that proceedings initiated without leave of the High Court are not void but voidable, ensuring the best interests of the Corporate Debtor and stakeholders are served through a structured and efficient resolution process. Case-Laws Insolvency and Bankruptcy Fri, 02 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370216