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SC upholds constitutional validity of Insolvency and Bankruptcy Code

SC upholds constitutional validity of Insolvency and Bankruptcy Code
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New Delhi (PTI): The Supreme Court on Friday upheld the constitutional validity of the Insolvency and Bankruptcy Code (IBC).

A bench headed by Justice R F Nariman said they have upheld the constitutional validity “in its entirety”.

 

The court, however, said that related parties in the act should mean a person connected with the business.

 

The bench disposed of a batch of pleas filed by companies challenging various provisions of the IBC.


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