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Recovery Certificate – would be a “financial debt” – the holder of such certificate would be entitled to initiate Corporate Insolvency Resolution Process (CIRP), if initiated within a period of three years from the date of issuance of the Recovery Certificate.

sclaw

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I B C

CIRP – Recovery Certificate Holder – Limitation period – the holder of such certificate would be entitled to initiate Corporate Insolvency Resolution Process (CIRP), if initiated within a period of three years from the date of issuance of the Recovery Certificate.

sclaw
I B C

IBC, 2016 – HELD in the interest of all the stake­holders to permit settlement and withdraw CIRP, the adjudicating authority or the appellate authority cannot sit in an appeal over the commercial wisdom of CoC

sclaw
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