Supreme Court Upholds Constitutional Validity Of Insolvency & Bankruptcy Code in Its 'Entirety'
Saying that the objectives of the law were fulfilled by its provisions, a bench of Justices RF Nariman and Navin Sinha disposed of a batch of petitions challenging the IBC
File photo of the Supreme Court of India.
New Delhi: The Narendra Modi government received a shot in the arm on Friday as the Supreme Court upheld the constitutional validity of the Insolvency and Bankruptcy Code 2016 in its "entirety".
Saying that the objectives of the law were fulfilled by its provisions, a bench of Justices RF Nariman and Navin Sinha disposed of a batch of petitions challenging the IBC.
The court had reserved orders on January 16 on the petitions challenging the validity of IBC. The court, however, said that related parties in the act should mean a person connected with the business.
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