The overriding power of IBC

With the proximity of the 2019 elections to the onset of another scorching summer, the divergent opinions on the overall success of the Insolvency and Bankruptcy Code, 2016 (IBC) are expected to heat the debates. Be that as it may, one aspect that remains undebated is the primacy garnered to the IBC on the judicial side. Contextually, a key decision passed last month has strengthened the position of resolution professionals and has in turn brought much relief to creditors under the insolvency and bankruptcy regime. 

The decision came in the matter of Srei Infrastructure Finance versus Sterling SEZ and Infrastructure,