Extent of Discretionary Power of NCLT under Section 7 of Insolvency and Bankruptcy Code

Abstract

The research paper at hand aims at identifying critical aspects around the so said "discretion" given to the NCLT with respect to admission of application for Corporate Insolvency Resolution Proceeding (CIRP) by a financial creditor. The law in this aspect is quit unresolved at the moment and requires the involvement of the legislature or the judiciary to give out the answer with this regard. Additionally, the difference between an operational creditor and a financial creditor is also analysed in this paper.