A Corporate Debtor who is a Co-Operative Society does not come under the purview of the Code and therefore the CIRP cannot be initiated under IBC – The Solapur Dist. Central Co – Operative Bank Ltd. Vs. M/s Swami Samarth Sahakari Sakhar Karkhana Ltd. – NCLT Mumbai Bench

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From a bare reading of Section 9 of the A&C Act, it is evident that the same empowers the Court to grant reliefs which are in the nature of interim measures till the Arbitral Tribunal is constituted or unless the Court finds that circumstances exist which may not render the remedy provided under Section 17 efficaciously – Cement Corporation of India Vs. Promac Engineering Industries Ltd. – Delhi High Court

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