Supreme Court: The Division Bench of J.B. Pardiwala and K.V. Viswanathan, JJ., issued notice to the respondents, returnable in four weeks, in a civil appeal raising following two significant questions of law:
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whether the Insolvency and Bankruptcy Code, 2016 (‘IBC’) overrides the provisions of the Industrial Disputes Act, 1947 (‘ID Act’).
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whether a Resolution Professional (‘RP’) could lawfully retrench employees under the guise of a lay-off during the corporate insolvency resolution process.
The present appeal was preferred by United Machines Karamchari Sangh (‘Appellant’) challenging the order passed by National Company Law Appellate Tribunal (‘NCLAT’). By the said order, the NCLAT dismissed the appellant’s…