FILING OF SECTION 9 OF IBC ON THE BASIS OF AN ARBITRAL AWARD/MONEY DECREE

AUTHOR – ARYENDRA SINGH, STUDENT AT AMITY LAW SCHOOL, NOIDA

BEST CITATION – ARYENDRA SINGH, FILING OF SECTION 9 OF IBC ON THE BASIS OF AN ARBITRAL AWARD/MONEY DECREE, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 5 (1) OF 2025, PG. 440-443, APIS – 3920 – 0001 & ISSN – 2583-2344.

Abstract

Since its enactment in May 2016, the Insolvency and Bankruptcy Code (IBC) has significantly transformed the landscape of insolvency resolution in India. Designed to streamline the process of insolvency and bankruptcy, the IBC aims to maximize asset value, promote entrepreneurship, ensure the availability of credit, and balance the interests of all stakeholders. Among its various provisions, Section 9 stands out as a crucial mechanism for operational creditors seeking to initiate the Corporate Insolvency Resolution Process (CIRP) against defaulting corporate debtors. This article focuses on the practical application of Section 9 by operational creditors, particularly in the context of enforcing a money decree. The ability to file for CIRP based on a money decree provides operational creditors with a potent tool to recover dues efficiently, thereby reinforcing the IBC’s overarching goal of timely and equitable resolution of insolvencies. Through an in-depth analysis, this article explores the procedural nuances, legal precedents, and strategic considerations involved in leveraging Section 9, offering valuable insights for practitioners and stakeholders navigating the complexities of the IBC framework.