India: Criteria For Admission Of Section 7 Applications Under The IBC – What's The Legal Position? - AZB & Partners

The judgment passed by the Hon'ble Supreme Court in Vidarbha Industries Power Ltd. v. Axis Bank Ltd., 8 SCC 32 on July 12, 2022, created quite a stir and unsettled the legal position pertaining to discretionary admission of section 7 applications under the Insolvency and Bankruptcy Code, 2016.