Sunday, February 15, 2026

Rights of Financial Creditors under IBC explained by Supreme Court

Rights of Financial Creditors under IBC explained by Supreme Court

"Initiation of proceedings by a financial creditor under other statutes does not bar filing of an application under the provisions of IBC, 2016. Moreover, mere pendency of a counterclaim for damages against a financial creditor will not operate as a bar on the right of the financial creditor to invoke the provisions of IBC."

B. Prashanth Hegde v. SBI [2026] GCtR 141 (SC)


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