Plea Filed In Delhi HC Against Insolvency Code Ordinance.

The Delhi High Court sought the government reply on a plea challenging the Insolvency and Bankruptcy code Ordinance which suspended the proceedings against defaulters arising on or after March 25 for the period of six months in the view of this pandemic situation. It has been contended in the plea that suspending the initiation of insolvency resolution process under IBC was irrational, arbitrary, unjust and mala fide as it deprives a corporate applicant of its statutory rights.

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