IBC Cannot Be Invoked as Substitute for Execution of Civil Decree: Supreme Court
The Supreme Court of India has delivered an important judgment explaining that the Insolvency and Bankruptcy Code cannot be used as a shortcut to recover money awarded through a civil court decree. In the case of Anjani Technoplast Ltd. versus Shubh Gautam, the Court clearly held that insolvency proceedings are meant for resolving genuine financial distress and not for forcing payment of dues. Background facts of loan and dispute The…
