https://www.taxtmi.com/caselaws?id=435064 The court upheld the constitutionality of Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, dismissing the writ petition challenging its validity. It affirmed the adjudicating authority's discretion under Section 7(5)(a) to consider all relevant aspects before admitting an application. The court referenced previous judgments supporting the validity of IBC provisions and emphasized the legislative intent to revive corporate debtors. The petitioner was directed to file objections before the adjudicating authority, which must consider them on merits. en-us Wed, 10 Aug 2022 00:00:00 +0530 Fri, 10 Mar 2023 16:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435064 The court upheld the constitutionality of Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, dismissing the writ petition challenging its validity. It affirmed the adjudicating authority's discretion under Section 7(5)(a) to consider all relevant aspects before admitting an application. The court referenced previous judgments supporting the validity of IBC provisions and emphasized the legislative intent to revive corporate debtors. The petitioner was directed to file objections before the adjudicating authority, which must consider them on merits. Case-Laws Insolvency and Bankruptcy Wed, 10 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435064