SC upholds disqualification under Section 29A of the IBC; but invokes Article 142 to protect interests of homebuyers

Background

The corporate insolvency resolution process (CIRP) against Jaiprakash Infratech Limited (JIL) commenced when the National Company Law Tribunal, Allahabad (NCLT) passed an order dated 09.08.2017 admitting the petition of IDBI Bank Limited under Section 7 of the Insolvency and Bankruptcy Code 2016 (IBC).

Filed under:
India, Insolvency & Restructuring, Khaitan & Co
Authors:
Prateek Kumar , Sahil Narang , Raveena Rai
Location:
India
Firm:
Khaitan & Co