The Delhi High Court on Monday issued notice in a petition challenging Section 10A of the Insolvency and Bankruptcy Code 2016. The petition was filed by Getamber Anand, the Chairman and Managing Director of the ATS Group, through Advocate Kartik Nayar, KN LEGAL, Advocates and Solicitors.
On December 2020, the petitioner received a notice from Xander Finance Pvt Ltd which sought to initiate insolvency resolution process against the petitioner in his capacity as the personal guarantor to a loan provided by Xander Finance to ATS Infrastructure.
Senior Advocate Rajiv Nayar, who appeared for the petitioner, contended that the demand is incorrect and untenable while challenging Section 10A of the Insolvency and Bankruptcy Code 2016 insof…
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