Can arbitration proceedings act as a bar for proceedings under Section 7 of the IBC? Delhi HC answers
“Section 7 of the Insolvency and Bankruptcy Code, 2016 states a financial creditor, either by itself or jointly, with other financial creditors, or any other person on behalf of the financial creditor, may file an application for initiating corporate insolvency resolution process against a corporate debtor before the Adjudicating Authority when a default has occurred.”