Applications Under Sections 7, 9, Or 10 Of IBC Filed Before 2021 Amendment Act Retain Priority: NCLAT Principal Bench

In a recent ruling, the NCLAT Delhi clarified that applications filed under Sections 7, 9, and 10 of the Insolvency and Bankruptcy Code (IBC) before the 2021 Amendment Act will retain their priority and procedural status. The decision underscores that such applications are governed by the provisions in effect at the time of filing, rather than those introduced by the 2021 amendments. This ruling maintains the stability and predictability of insolvency proceedings for cases initiated before the legislative changes.