MACQUARIE BANK LIMITED vs SHILPI CABLE TECHNOLOGIES LTD

The Supreme Court addressed two key issues under the Insolvency and Bankruptcy Code, 2016: (1) the mandatory nature of Section 9(3)(c) regarding the requirement of a certificate for operational debt applications, and (2) the validity of a demand notice issued by a lawyer on behalf of an operational creditor. The Court upheld the NCLAT's decision that the absence of the required certificate constituted non-compliance with Section 9(3)(c), leading to the dismissal of the insolvency application. Additionally, it ruled that a lawyer cannot issue a demand notice under Section 8 without proper authorization from the operational creditor.