This case pertains to the precedence and priority of consideration between an application filed u/s...

This case pertains to the precedence and priority of consideration between an application filed u/s 54(C) and Section 7 of the Insolvency and Bankruptcy Code (IBC) against the same Corporate Debtor. The key points are: Section 11A(2) mandates precedence to an application u/s 54C if already pending, or if filed within 14 days of a Section 7/9/10 application. However, Section 11A(3) provides an exception, giving precedence to Section 7/9/10 applications if the Section 54C application is filed after 14 days. Crucially, Section 11A(4) states that Section 11A shall not apply where a Section 7/9/10 application was filed and pending before the commencement of the IBC (Amendment) Act, 2021. In the present case, the Section 7 application was filed o..... .....

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