The Supreme Court of India has, yet again, stepped in to arrest the creeping tendency of corporate debtors to stall Corporate Insolvency Resolution Process (CIRP) by raising spurious defences. In M/s. Saraswati Wire & Cable Industries v. Mohammad Moinuddin Khan & Ors. [Civil Appeal No. 12261 of 2024, decided on 10 December 2025 – 2025 INSC 1410], a Division Bench of Sanjay Kumar and Alok Aradhe, JJ. set aside a 13 March 2024 order of the National Company Law Appellate Tribunal (NCLAT) and restored the admission order passed by the National Company Law Tribunal, Mumbai Bench-IV, thereby allowing the operational creditor’s Section 9 petition under the Insolvency & Bankruptcy Code, 2016 (IBC) to proceed.
The appellant, a registered…