Steel, Seizure & Statutes: The Tug Of Laws In Kalyani Transco Case – Insolvency/Bankruptcy
1. Introduction The Supreme Court’s ruling in Kalyani Transco v. M/s Bhushan Power & Steel Ltd. & Ors. addresses whether procedural irregularities that occur during the Corporate Insolvency Resolution Process (“CIRP”) are sufficient to undo an approved resolution plan under the Insolvency and Bankruptcy Code, 2016 (“Code”). CIRP leads to two possible outcomes; either the…

