Chitra Sharma vs Union Of India Secretary Ministry Of ...

The Supreme Court upheld the NCLAT's decision to exclude the period from 17th September 2018 to 4th June 2019 from the 270-day Corporate Insolvency Resolution Process (CIRP) period under the Insolvency and Bankruptcy Code, 2016. The Court emphasized that the exclusion was necessary due to the pendency of applications concerning the voting rights of home buyers, which affected the CIRP timeline. The ruling clarified the interpretation of Section 7 of the IBC, ensuring that stakeholders' rights are protected during insolvency proceedings.