Plea Against Insolvency Code Ordinance; HC Seeks Centre Stand

The Delhi High Court Tuesday sought the Centre’s reply on a plea challenging the Insolvency and Bankruptcy Code (IBC) Ordinance which suspended proceedings against defaults arising on or after March 25 for six months in view of the COVID-19 pandemic, The Hindu reported. A Bench of Chief Justice D.N. Patel and Justice Prateek Jalan issued notice to the Ministry of Law and the Insolvency and Bankruptcy Board of India (IBBI) seeking their stand by August 31 on the plea, which seeks setting aside of the amendment made in the IBC by the ordinance. Central government standing counsel Amit Mahajan, appearing for the ministry, opposed the plea saying it was not maintainable. Mahajan said the petitioner — Rajeev Suri — has been unable to show his locus for filing the instant PIL. Read more

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