Supreme Court overturns NCLAT's ruling on two distinct points on the Insolvency Code

Varun Marwah December 19 2017
supreme court

The Supreme Court has recently set two precedents in one judgment in its attempt to further strengthen the jurisprudence surrounding the Insolvency and Bankruptcy Code, 2016.

Three civil appeals from NCLAT judgments were clubbed and two important questions, which arose before a Bench of Justices R.F. Nariman and Navin Sinha, were:

1) Whether a certificate under Section 9(3)(c) of the Code is mandatory or directory in nature; and

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