The recent Supreme Court ruling in Independent Sugar Corporation Ltd. (INSCO) v. Girish Sriram Juneja & Ors. has been hailed as a landmark judgment, fundamentally reshaping how insolvency and competition laws intersect in India. The verdict underscores the judiciary’s commitment to statutory compliance, reinforcing the principle that regulatory approvals must precede the approval of resolution plans under the Insolvency and Bankruptcy Code (IBC) and certain sections of the Competition Act, 2002. This decision sets a critical precedent that will guide future insolvency resolutions and protect market fairness.
Background and Legal Dispute
The case revolved around the insolvency resolution of Hindustan National Glass & Industries Ltd….
