https://www.taxtmi.com/caselaws?id=285132 The National Company Law Tribunal dismissed the State Bank of India's application under Section 7 of the Insolvency and Bankruptcy Code against M/s. Shakti Bhog Foods Limited due to pending winding up proceedings. The Tribunal clarified that the initiation of winding up proceedings or a liquidation order against a Corporate Debtor can impact the maintainability of applications under the I&B Code, emphasizing the hierarchy of insolvency processes and the implications of parallel proceedings on Corporate Debtors. en-us Mon, 12 Mar 2018 00:00:00 +0530 Sat, 28 Dec 2019 09:54:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285132 The National Company Law Tribunal dismissed the State Bank of India's application under Section 7 of the Insolvency and Bankruptcy Code against M/s. Shakti Bhog Foods Limited due to pending winding up proceedings. The Tribunal clarified that the initiation of winding up proceedings or a liquidation order against a Corporate Debtor can impact the maintainability of applications under the I&B Code, emphasizing the hierarchy of insolvency processes and the implications of parallel proceedings on Corporate Debtors. Case-Laws Insolvency and Bankruptcy Mon, 12 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285132