https://www.taxtmi.com/caselaws?id=772013 An insolvency admission order under the Insolvency and Bankruptcy Code, 2016 operates against the Corporate Debtor as a whole and cannot be confined to a single project unless the statute expressly permits that limitation. The Supreme Court accepted that a project-specific restriction on a Section 7 order was unsustainable, because the insolvency process is directed at the Corporate Debtor collectively rather than one isolated undertaking. The challenge to confine the order to one project therefore failed, and the appeal was dismissed, with the parties left free to pursue their contentions in the pending proceedings. en-us Thu, 02 Jan 2025 00:00:00 +0530 Tue, 03 Jun 2025 08:50:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=772013 An insolvency admission order under the Insolvency and Bankruptcy Code, 2016 operates against the Corporate Debtor as a whole and cannot be confined to a single project unless the statute expressly permits that limitation. The Supreme Court accepted that a project-specific restriction on a Section 7 order was unsustainable, because the insolvency process is directed at the Corporate Debtor collectively rather than one isolated undertaking. The challenge to confine the order to one project therefore failed, and the appeal was dismissed, with the parties left free to pursue their contentions in the pending proceedings. Case-Laws IBC Thu, 02 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=772013