High Courts to refrain from interfering with Corporate Insolvency Resolution Process as IBC is self contai … – taxscan.in

The Kerala High Court ruled that the High Courts should refrain from interfering with Corporate Insolvency Resolution Process as Insolvency and Bankruptcy Code, 2016 (IBC) is self contained Code.

The petitioners, M/s Orlem Pharma Pvt. Ltd. and St. Antonys Medical Distributors challenge the Corporate Insolvency Resolution Process initiated under the Insolvency and Bankruptcy Code, 2016 with respect to the respondent; Corporate Debtor. The proceedings commenced at the instance of two Operational Creditors. The order was issued by the NCLT appointing the Interim Resolution Professional (IRP). The IRP was reappointed as the Resolution Professional (RP) by the members of the Comm…

Read the full article at: https://www.taxscan.in/high-courts-to-refrain-from-interfering-with-corporate-insolvency-resolution-process-as-ibc-is-self-contained-code-kerala-hc/121368/