Supreme Court allows recording consent terms after case is admitted under Insolvency Code [Updated][Read Order]

Varun Marwah July 25 2017
Rebati Phukan

A Supreme Court Bench of Justice Rohinton Nariman and Justice Sanjay Kishan Kaul yesterday exercised powers under Article 142 of the Constitution to record consent terms between the parties post admission of the application under Insolvency and Bankruptcy Code, 2016.  

The Mumbai Bench of NCLT had, in June 2017, initiated corporate insolvency resolution process against the corporate debtor, Lokhandwala Kataria Construction on an application filed by financial creditor, Nisus . . .

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