30: Impact of SC order on Air India pilot’s insolvency plea
The Supreme Court has directed the National Company Law Tribunal to consider afresh a plea filed by an Air India pilot to initiate insolvency proceedings against the company. Under Section 9 of the Insolvency and Bankruptcy Code, salaried employees can initiate insolvency proceedings against a corporate debtor. But allowing individual employees to do so could create hurdles and defeat the purpose of the IBC, which is to quickly resolve stressed assets. Mint Views Daily Dispatch brings you scenes from the Mint edit table where ideas are mooted, discussed and debated before they make it to the coveted editorial page of the paper. Learn more about your ad choices. Visit megaphone.fm/adchoices
