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Boundaries In Section 9 IBC Applications: Analysing GLS Films Industries v. Chemical Suppliers
The Supreme Court of India has delivered a landmark ruling clarifying the threshold for rejecting insolvency applications under Section 9 of the Insolvency and Bankruptcy Code, 2016. In GLS Films Industries Private Limited v. Chemical Suppliers India Private Limited, the apex court addressed whether appellate tribunals can conduct mini-trials to evaluate the merits of pre-existing disputes, or whether they must simply confirm the existence of a plausible dispute. This judgment reinforces critical safeguards
India Insolvency
IL
IndiaLaw LLP
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