India: SC Holds That Section 7(5)(A) Of IBC Confers Discretionary Power On NCLT To Admit Application Of Financial Creditor Seeking Initiation Of CIRP Of Corporate Debtor - AZB & Partners

India: SC Holds That Section 7(5)(A) Of IBC Confers Discretionary Power On NCLT To Admit Application Of Financial Creditor Seeking Initiation Of CIRP Of Corporate Debtor - AZB & Partners

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The SC in the case of Vidarbha Industries Power Ltd. v. Axis Bank Ltd., held that the use of the word "may" in Section 7(5)(a) of the Insolvency and Bankruptcy Code (‘IBC')...

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