DUNCANS INDUSTRIES LTD. vs A.J. AGROCHEM

The Supreme Court held that the application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) is maintainable even without the consent of the Central Government, contrary to the findings of the National Company Law Tribunal (NCLT) which relied on Section 16G of the Tea Act, 1953. The Court clarified that the NCLAT's reversal of the NCLT's decision was justified, establishing that the provisions of the IBC take precedence in insolvency matters. Consequently, the appeal by the corporate debtor was dismissed, affirming the NCLAT's ruling.