Satinder Singh Bhasin vs Col Gautam Mullick

The Supreme Court examined the initiation of the corporate insolvency resolution process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016, against two companies, Grand Venezia Commercial Towers Private Limited and Bhasin Infotech and Infrastructure Private Limited. The appellants, who were erstwhile directors of the companies, challenged the NCLT order initiating CIRP. The Court analyzed the scope and applicability of Section 7 and the procedural correctness of the insolvency initiation. The judgment upheld the NCLT's order, affirming the proper initiation of CIRP under the Code.