https://www.taxtmi.com/caselaws?id=766629 Section 10-A of the Insolvency and Bankruptcy Code does not bar initiation of CIRP where the default is shown to have continued beyond the protected period; the earlier Supreme Court ruling was distinguished because it concerned a default arising within that period. The Court also held that a writ petition under Article 226 will ordinarily not be entertained where an effective statutory appeal is available, absent exceptional circumstances. Applying those principles, the challenge to the NCLT's admission order failed, and the interim protection could not be sustained. en-us Thu, 23 Jan 2025 00:00:00 +0530 Fri, 28 Feb 2025 13:09:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766629 Section 10-A of the Insolvency and Bankruptcy Code does not bar initiation of CIRP where the default is shown to have continued beyond the protected period; the earlier Supreme Court ruling was distinguished because it concerned a default arising within that period. The Court also held that a writ petition under Article 226 will ordinarily not be entertained where an effective statutory appeal is available, absent exceptional circumstances. Applying those principles, the challenge to the NCLT's admission order failed, and the interim protection could not be sustained. Case-Laws IBC Thu, 23 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766629