Supreme Court · 2017 INSC 1241 · Decided 15 December 2017
Macquarie Bank Limited v. Shilpi Cable Technologies LTD.
- Court
- Supreme Court of India
- Citation
- 2017 INSC 1241 · [2017] 13 S.C.R. 751
- Case number
- CIVIL APPEAL No. 15135/2017
- Decided
- 15 December 2017
- Bench
- R.F. NARIMAN, NAVIN SINHA (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- IBC Section 9(3)
Headnote
Insolvency and Bankntptcy Code, 2016: s.9(3)(c) - Provision in relation to operational debt, contained A B in s.9(3)(c) of the Code if mandatory or directory - Held: Sub- C clause (c) of s.9(3) makes it clear that a copy of the certificate from the financial institution maintaining accounts of the that .there is no payment of an unpaid operational debt by the corporate debtor is certainly not a condition precedent to trigger the insolvency process under the code - The expression D "confirming" makes it clear that this is on~y a piece of evidence, albeit a very important piece
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