Case Law Details
State Bank of India Vs Assistant Commissioner (Madras High Court)
Introduction: In a recent ruling, the Madras High Court has issued directions to the State Bank of India (SBI) concerning the pursuit of relief under the Insolvency and Bankruptcy Code, 2016 (IBC). The court’s decision is driven by the involvement of corporate insolvency in the matter and the need for resolution through the National Company Law Tribunal (NCLT).
1. Background of the Case
This case involves State Bank of India (SBI) and an attachment order related to corporate insolvency. The court’s directives stem from the complexities of the matter and the legal framework under the Insolvency and Bankruptcy Code, 2016 (IBC).
2. Legal Framework: IBC of 2016
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