IBC | Joint Insolvency Plea Maintainable Against Intrinsically Linked Corporate Debtors: Supreme Court

The Supreme Court has ruled that a joint petition for the Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code (IBC) is maintainable against separate corporate entities if they are “intrinsically linked” to a single project. The Court upheld the admission of insolvency proceedings against M/s. Grand Venezia Commercial Towers

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