SC upholds Sections 3, 4 & 10 of IBC Amendment Act 2020

Manish Kumar Vs Union of India (Supreme Court) The petitioners have approached Supreme 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. Court held as follows:- We uphold the impugned amendments. However, this is subject to the following directions, which we issue under Article 142 of the Constitution of India: i. If any of the petitioners move applications in respect of the same default, as alleged in their applications, within a period of two months from today, also compliant with either...