Case Law Analysis
|Supreme Court of India
Section 9(2) Presidency Towns Insolvency Act | Recovery Certificate Not a 'Decree or Order' for Insolvency Notice : SC
The Supreme Court ruled that a recovery certificate issued by the Debt Recovery Tribunal under the RDB Act does not qualify as a 'decree or order' under Section 9(2) of the Presidency Towns Insolvency Act, 1909. This strict interpretation bars creditors from initiating insolvency proceedings based solely on recovery certificates, reinforcing the need for a formal decree or order for insolvency notices.