Insolvency Process Can't Be Admitted During Pendency Of Proceedings Challenging Arbitral Award: SC [Read Judgment]

'We repeat that the object of the Code, at least insofar as operational creditors are concerned, is to put the insolvency process against a corporate debtor only in clear cases where a real dispute between the parties as to the debt owed does not exist.'The Supreme Court has held that an insolvency process cannot be put into operation when there is a pending proceeding challenging against...