Case Law Analysis
|Bombay High Court
Section 7 IBC | Delay in Reserved Orders Violates Timely Disposal Mandate: Bombay HC Directs Special NCLT Bench for 7-Year-Old Petition
Bombay High Court holds that prolonged delays in reserved IBC matters undermine the Code's statutory timelines, directing constitution of a special NCLT bench to dispose of a Section 7 petition pending since 2019. The ruling reinforces the judiciary's intolerance for procedural stagnation in insolvency proceedings, impacting creditors and corporate debtors awaiting resolution.