The Supreme Court of India is hearing writ petitions questioning the validity of certain sections of the Insolvency and Bankruptcy Code, 2016. Notices have been issued with interim orders in these petitions. The issues involved are similar to those in other pending petitions.
The Supreme Court is hearing Writ Petition (Civil) No.478/2022 along with connected matters W.P.(C) No. 485/2022 (X) and W.P.(C) No. 486/2022 (X). These petitions question the validity of Sections 95(1), 96(1), 97 (5), 99 (1), 99(2), 99(4), 99 (5), 99 (6) and 100 of the Insolvency and Bankruptcy Code, 2016. Notices have been issued with interim orders. The court has directed that the petitioners shall not transfer, alienate, encumber or dispose of any of their assets or legal rights or beneficial interest therein. The Resolution Professional is also directed not to proceed with filing of the report. The issues in these petitions are similar to those in other pending petitions.
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The petition wa…
The Supreme Court of India is hearing writ petitions questioning the validity of certain sections of the Insolvency and Bankruptcy Code, 2016. Notices have been issued with interim orders in these petitions. The issues involved are similar to those in other pending petitions.
The Supreme Court is hearing Writ Petition (Civil) No.478/2022 along with connected matters W.P.(C) No. 485/2022 (X) and W.P.(C) No. 486/2022 (X). These petitions question the validity of Sections 95(1), 96(1), 97 (5), 99 (1), 99(2), 99(4), 99 (5), 99 (6) and 100 of the Insolvency and Bankruptcy Code, 2016. Notices have been issued with interim orders. The court has directed that the petitioners shall not transfer, alienate, encumber or dispose of any of their assets or legal rights or beneficial interest therein. The Resolution Professional is also directed not to proceed with filing of the report. The issues in these petitions are similar to those in other pending petitions.
The petition wa…