Supreme Court of India lays down the criteria for identifying ‘speculative investors’ in the real estate sector, disentitles them from availing the provisions of Insolvency and Bankruptcy Code, 2016

The Supreme Court of India (“Supreme Court”), in Mansi Brar Fernandes vs. Shubha Sharma and Anr. inter alia held that ‘speculative investors’ cannot be permitted to initiate Corporate Insolvency Resolution Process (“CIRP”) under the Insolvency and Bankruptcy Code, 2016 (“IBC”) and has laid down certain key principles and criteria for determining who a ‘speculative investor’ would be.

Brief facts

Filed under:
India, Insolvency & Restructuring, Litigation, JSA, Insolvency and Bankruptcy Code (India), Supreme Court of India, National Company Law Tribunal
Authors:
Farhad Sorabjee , Pratik Pawar , Shanaya Cyrus Irani , Sanjana Pandey
Location:
India
Firm:
JSA