The ruling is more than a closure of a prolonged corporate rescue. In a judgment closely watched by lenders and investors, the court reaffirmed the finality of approved insolvency plans, clarified the interplay between the Insolvency and Bankruptcy Code (IBC) and the Prevention of Money Laundering Act (PMLA) once a plan is cleared, and shut the door on late claims over interim profits.
The decision strengthens confidence that India’s bankruptcy process can deliver a clean transfer of distressed assets despite parallel criminal investigations.
Mint takes a closer look at the implications of the Supreme Court judgment.