IBC Suspended ? What are the alternate remedies for recovery ?

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Scenario of recovery prior to IBC:- Before the enactment of IBC, creditors had the following legal remedies for recovery of debts from the Corporates: i) Summary Suit : The creditors used to pursue the option of filing Summary Suit under O.XXXVII under Code of Civil Procedure. The average time taken by a Civil Court is usually three- four years. The same Suit, if filed before a High Court takes more…

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