Analysis of Pioneer Judgment on constitutional validity of status of allottees as financial creditors

Judgement  dated 9th August, 2019 of the Hon’ble Supreme Court of India in the matter of Pioneer Urban Land and Infrastructure Limited and Anr. Vs. Union of India & Ors. WP (C) No. 43/2019 and other petitions. While dismissing the various petitions filed by builders and upholding the constitutional validity of status of allottees as financial creditors, the Hon’ble Supreme Court made several important findings and rulings as under: Sl. No. Issue/ Theme Ruling Para / Page No. of SC Judgment 1 Economic Legislation Legislature must be given free play in the joints when it comes to ...