https://www.taxtmi.com/article/detailed?id=14119 Section 94 allows a "debtor" to apply for insolvency resolution, but the Code's definitions of corporate debtor and corporate person restrict eligibility to incorporated entities. The High Court held that sole proprietorship concerns do not fall within those definitions, so Section 94 does not apply to proprietorship firms or their proprietors. The court also observed that administrative possession orders and notices under parallel enforcement regimes cannot be nullified by officers who lack adjudicatory authority. en-us Tue, 15 Apr 2025 08:52:54 +0530 Tue, 15 Apr 2025 08:52:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=14119 Section 94 allows a "debtor" to apply for insolvency resolution, but the Code's definitions of corporate debtor and corporate person restrict eligibility to incorporated entities. The High Court held that sole proprietorship concerns do not fall within those definitions, so Section 94 does not apply to proprietorship firms or their proprietors. The court also observed that administrative possession orders and notices under parallel enforcement regimes cannot be nullified by officers who lack adjudicatory authority. Articles Corporate Laws / IBC / SEBI Tue, 15 Apr 2025 08:52:54 +0530 https://www.taxtmi.com/article/detailed?id=14119