It was held that the Consumer Complaint of the appellant is not maintainable as the appellant is not a consumer as per section 2(1) d of the Consumer Protection Act,1986.
Tag: Recovery proceedings
LokSabha Clears Heavily Contested IBC Amendment Bill 2020
The LokSabha passed the IBC (Second Amendment) Bill 2019, which was first introduced by the Finance Minister Nirmala Sitharaman on 12 December 2019.
No bar to Initiate Insolvency Proceedings pendency the action under SARFAESI Act or RDBFI Act
The pendency of actions under the SARFAESI Act or actions under the RDDBFI Act, 1993 does not create an obstruction for applying Section 7 of Insolvency and Bankruptcy Code 2016, especially given Section 238 of IBC.
Exemption from the strict adherence to the timeline of 270 days of the Insolvency and Bankruptcy Code, 2016
The Corporate Insolvency Resolution Process has to be completed in 180 days along with the provision of 90 days of extension or maximum allowed time is 270 days.
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