Catalyst Trusteeship Ltd vs Ecstasy Realty Pvt. Ltd

The Supreme Court examined the refusal to initiate corporate insolvency resolution under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Ecstasy Realty Pvt. Ltd. The lower tribunals dismissed the application, and the appellate tribunal upheld this decision. The Court considered whether the procedural and substantive requirements for initiating insolvency proceedings were met, ultimately affirming the tribunals' judgments. The case highlights the importance of compliance with statutory provisions for insolvency initiation.