NISHANT
Section 4, SIC Repeal Act, 2003 - Application filed in a modified Form-6, it cannot be treated as a proceeding under Section 10 of Insolvency and Bankruptcy Code.
NISHANT MEHROTRA 11 Oct 2019

Section 4, SIC Repeal Act, 2003 - Application filed in a modified Form-6, it cannot be treated as a proceeding under Section 10 of Insolvency and Bankruptcy Code.

NCLAT :: Section 4, SIC Repeal Act, 2003 - Application filed in a modified Form-6, it cannot be treated as a proceeding under Section 10 of Insolvency and Bankruptcy Code. Held :: No Form has been prescribed even for initiation of ‘Fast Track Corporate Insolvency Resolution Process’ under Sections 55 and 56 of the I&B Code, in the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. In such circumstances, if the ‘Corporate Debtor’ for reference under sub-section (b) of Section 4 of SIC Repeal Act, 2003 if files application in a modified Form-6, it cannot be treated as a proceeding under Section 10. It should be treated as a ‘Corporate Insolvency Resolution Process’ by reference under sub-section (b) of Section 4 of SIC Repeal Act, 2003. Case: Pratima P. Shah Vs. IDBI Bank Limited
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