Court Rejects Petitioner's Preference for Repealed SICA Over Current Insolvency Code Per Section 4(b.

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....On a query as to why the Petitioner chose not to approach the NCLT, the response was that the Petitioner wanted to be governed by the repealed Act, i.e., SICA and not in accordance with the Code as provided for under Section 4(b). Such a submission lacks any legal basis and is liable to be rejected. - HC....