Introduction:
In M/s. Saraswati Wire and Cable Industries v. Mohammad Moinuddin Khan and Others, the Supreme Court of India delivered a significant ruling that further strengthens the integrity, objectivity, and speed of the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC). The controversy emerged when the Operational Creditor, Saraswati Wire and Cable Industries, initiated a Section 9 application after the Corporate Debtor failed to clear outstanding dues despite multiple reminders and a statutory demand notice under Section 8. The Corporate Debtor, while earlier acknowledging its liability and even making a part-payment of ₹61 lakhs after receiving the demand notice, later…