In a significant ruling clarifying the procedural requirements under the Insolvency and Bankruptcy Code, 2016 (IBC), the Supreme Court on April 29, 2025, held that service of a demand notice under Section 8 of the IBC on the Key Managerial Personnel (KMP) of a corporate debtor at its registered office constitutes valid service. The Court set aside the concurrent decisions of the National Company Law Tribunal (NCLT), Cuttack Bench, and the National Company Law Appellate Tribunal (NCLAT), which had rejected a Section 9 petition for initiation of Corporate Insolvency Resolution Process (CIRP) on the ground of invalid service.
Background
The appeal before the Supreme Court arose from the dismissal of a Section 9 application filed…
