In a significant development in relation to the Insolvency and Bankruptcy Code, 2016, the Supreme Court today issued notice to the Central government in a petition challenging the vires of various provisions of the Insolvency and Bankruptcy Code, 2016 (Code).
Most importantly, the petition also assails all the appointments made to NCLT and NCLAT prior to 2018 on the ground that it falls foul of the judgment rendered by the Supreme Court in Madras Bar Association v. Union of India.
The matter was heard yesterday by a Bench of Chief Justice Dipak Misra and Justices AM Khanwilkar and DY Chandrachud.
Senior Advocates Aryama Sundaram and KV Viswanathan and advocates Masoom Shah, Vishwas Shah and Udit Gupta appeared for the petitioners….
Read the full article at: https://barandbench.com/breaking-supreme-court-issues-notice-centre-challenge-provisions-insolvency-bankruptcy-code/
