SC Stays CIRP Proceedings On Behalf Of Operational Creditor Making Futuristic Claims [Read Order]

In a significant order, the Supreme Court has stayed the Corporate Insolvency Resolution Process (CIRP) pending against a Corporate Debtor, in view of the "futuristic claims" made by an Operational Creditor. A three-Judge bench comprised of Justices Arun Mishra, BR Gavai and Krishna Murari has issued notice to the Insolvency Resolution Professional of Era Infra Engineering Ltd. and in...