Profit can't stall IBC insolvency, Supreme Court rules

The court rejected the argument that profitability measured by EBITDA can keep a debtor out of the Corporate Insolvency Resolution Process. A default recorded by an information utility ranks highest as proof and stands unless the debtor rebuts it with clear, cogent and compelling material. (Deccanherald)

• The court rejected the argument that profitability measured by EBITDA can keep a debtor out of the Corporate Insolvency Resolution Process.
• A default recorded by an information utility ranks highest as proof and stands unless the debtor rebuts it with clear, cogent and compelling material.