Shareholders Cannot Challenge CIRP Admission Once Debt and Default Are Confirmed u/s 7 of IBC 2016.

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Full Text of the Document

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....CIRP admitted - locus of shareholder of the Corporate Debtor - prima-facie there is no specific law which allows any shareholder of the Corporate Debtor to challenge the admission of Corporate Insolvency Resolution Process of the Corporate Debtor, once the debt due and default is established by the Adjudicating Authority, in an application made by the Financial Creditor filed under Section 7 of the I & B Code, 2016 before the Adjudicating Authority. - AT....