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SC transfers to itself pleas challenging IBC law on personal guarantors

A three-judge Bench comprising Justices L Nageswara Rao, Hemant Gupta, and Ajay Rastogi has directed the HCs to not entertain any further writ petitions on this issue

gavel, IBC, Insolvency, bankruptcy, court, judgement, laws

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The top court’s order comes in response to a transfer petition filed by the Insolvency and Bankruptcy Board of India (IBBI) in this matter

Ruchika Chitravanshi New Delhi

3 min read Last Updated : Oct 30 2020 | 12:58 AM IST

The Supreme Court (SC) has decided to transfer a batch of petitions challenging the Insolvency and Bankruptcy Code (IBC) provisions relating to personal guarantee to itself from various high courts (HCs).

A three-judge Bench comprising Justices L Nageswara Rao, Hemant Gupta, and Ajay Rastogi has directed the HCs to not entertain any further writ petitions on this issue.

“Transfer of the writ petitions to this court would avoid conflicting decisions by the HCs... The IBC is at a nascent stage and it is better that the interpretation of the provisions of the Code is taken up by this court to

Topics : Supreme Court Insolvency and Bankruptcy Code

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