Maintenance of wife & children overrides over statutory financial creditors of Husband within SARFAESI/IBC: SC

Apurva @ Apurvo Bhuvanbabu Mandal Vs Dolly & Ors. (Supreme Court of India)

In a recent ruling Hon’ble Supreme Court observed that the right to maintenance is equivalent to the right to livelihood, being a subset of the right to dignity and a dignified life, which in turn flows from Article 21 of the Constitution of India. Hence, right to maintenance being equivalent to a fundamental right will be superior to and have overriding effect than the statutory rights afforded to Financial Creditors, Secured Creditors, Operational Creditors or any other such claimants encompassed

Please become a Premium member. If you are already a Premium member, login here to access the full content.