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Provision of IBC prevails over Tea Act, 1953; consent of Govt. is not required before initiating proceeding u/s 7

October 10, 2019[2019] 110 131 (SC)

IBC : Provisions of IBC would have an overriding effect over the Tea Act, 1953 and that no prior consent of Central Government before initiation of proceedings under section 7 or section 9 of IBC would be required and even without such consent of Central Government, insolvency proceedings under section 7 or section 9 of IBC initiated by operational creditor shall be maintainable

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