https://www.taxtmi.com/caselaws?id=291957 The judgment clarified that Section 238 of the Insolvency and Bankruptcy Code prevails in NCLT proceedings, allowing the RP to continue the CIRP without hindrance. It upheld NCLT's jurisdiction in independent proceedings by a secured Financial Creditor, overturning a High Court decision. The impact of a Supreme Court ruling emphasized the need for insolvency proceedings to proceed smoothly. Directives were given to the RP to complete the CIRP within a specified timeframe and to the Suspended management regarding pending winding up applications. The judgment aimed to ensure the effective resolution of the insolvency case within the legal framework. en-us Wed, 16 Oct 2019 00:00:00 +0530 Wed, 02 Dec 2020 09:20:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291957 The judgment clarified that Section 238 of the Insolvency and Bankruptcy Code prevails in NCLT proceedings, allowing the RP to continue the CIRP without hindrance. It upheld NCLT's jurisdiction in independent proceedings by a secured Financial Creditor, overturning a High Court decision. The impact of a Supreme Court ruling emphasized the need for insolvency proceedings to proceed smoothly. Directives were given to the RP to complete the CIRP within a specified timeframe and to the Suspended management regarding pending winding up applications. The judgment aimed to ensure the effective resolution of the insolvency case within the legal framework. Case-Laws Companies Law Wed, 16 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291957