https://www.taxtmi.com/caselaws?id=459960 The SC set aside the HC's order deferring the Corporate Insolvency Resolution Process (CIRP), ruling that the HC overstepped its jurisdiction under Article 226 of the Constitution. The HC had declined to consolidate the CIRP of three entities but still deferred the process without notifying the Committee of Creditors (CoC) or other respondents, violating procedural fairness and principles of natural justice. The SC emphasized that such interference breached the discipline of the Insolvency and Bankruptcy Code, 2016, which mandates timely resolution of insolvency proceedings. The appeal was allowed, and the HC's order was annulled. en-us Mon, 14 Oct 2024 00:00:00 +0530 Mon, 06 Jan 2025 19:01:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459960 The SC set aside the HC's order deferring the Corporate Insolvency Resolution Process (CIRP), ruling that the HC overstepped its jurisdiction under Article 226 of the Constitution. The HC had declined to consolidate the CIRP of three entities but still deferred the process without notifying the Committee of Creditors (CoC) or other respondents, violating procedural fairness and principles of natural justice. The SC emphasized that such interference breached the discipline of the Insolvency and Bankruptcy Code, 2016, which mandates timely resolution of insolvency proceedings. The appeal was allowed, and the HC's order was annulled. Case-Laws IBC Mon, 14 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459960