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Supreme Court upholds bankruptcy code: Long live the IBC

Updated : January 28, 2019 06:42 AM IST

The 150-page order on the bankruptcy law cited biblical references and ended with an epilogue, which read “... the defaulter‘s paradise is lost. In its place, the economy‘s rightful position has been regained.” 
For what is clearly the most contentious provisions of all under the IBC, the Supreme Court set aside any questions relating to the validity or applicability of section 29A, and also its retrospective application. 
Supreme Court upholds bankruptcy code: Long live the IBC
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