SC upheld the Amendments of proviso 3 to sec(7) of IBC however, it has grated releif of court fees & condonation.
Last updated: 25 January 2021
Court :
Supreme Court of India
Brief :
The petitioners have approached this Court under Article 32 of the Constitution of India. They call in question Sections 3, 4 and 10 of the Insolvency and Bankruptcy Code (Amendment) Act 2020 (hereinafter referred to as ‘the impugned amendments’, for short). Section 3 of the impugned amendment, amends Section 7(1) of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as ‘the Code’, for short). Section 4 of the impugned amendment, incorporates an additional Explanation in Section 11 of the Code. Section 10 of the impugned amendment inserts Section 32A in the Code.
Citation :
WRIT PETITION(C) NO.26 OF 2020
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