Petition Attempts to Shift SARFAESI Proceedings to Pre-Packaged Insolvency under IBC, Seen as Delaying Tactic.

Petition Attempts to Shift SARFAESI Proceedings to Pre-Packaged Insolvency under IBC, Seen as Delaying Tactic. https://www.taxtmi.com/highlights?id=69364 Writ petition - Seeking Pre-Packaged Insolvency Resolution Process under the IBC instead of proceeding under the SARFAESI Act - It appears that this writ petition is directed solely as a ploy to delay the further proceedings initiated under the SARFAESI Act which has already been initiated against the petitioner. The SARFAESI Act is a complete code in itself and it has statutory Authorities prescribed for redressal of grievances raised by the petitioner in the writ petition. - HC en-us Sat, 22 Apr 2023 09:17:22 +0530 Sat, 22 Apr 2023 09:17:22 +0530 TaxTMI RSS Generator Petition Attempts to Shift SARFAESI Proceedings to Pre-Packaged Insolvency under IBC, Seen as Delaying Tactic. https://www.taxtmi.com/highlights?id=69364 Writ petition - Seeking Pre-Packaged Insolvency Resolution Process under the IBC instead of proceeding under the SARFAESI Act - It appears that this writ petition is directed solely as a ploy to delay the further proceedings initiated under the SARFAESI Act which has already been initiated against the petitioner. The SARFAESI Act is a complete code in itself and it has statutory Authorities prescribed for redressal of grievances raised by the petitioner in the writ petition. - HC Highlights Insolvency and Bankruptcy Sat, 22 Apr 2023 09:17:22 +0530 https://www.taxtmi.com/highlights?id=69364