TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
When case Id is present, search is done only for this
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Supreme Court Validates Insolvency Code Provisions, Affirms Regulatory Framework's Constitutionality Under Sections 140 and 23A</h1> <h3>CA V. VENKATA SIVAKUMAR Versus INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (IBBI) REPRESENTED BY DEPUTY GENERAL MANAGER & ORS.</h3> SC upheld constitutional validity of Insolvency and Bankruptcy Code provisions, specifically Regulation 23A and Section 140. Court found no violation of ... Seeking permission to withdraw the additional affidavit sworn - HELD THAT:- The power to suspend is bestowed by Regulation 23A of the Insolvency and Bankruptcy Board of India ( Model Bye-Laws And Governing Board of Insolvency Professional Agencies ) Regulations, 2016, read with Section 140 of the Insolvency and Bankruptcy Code, 2016. SLP disposed off. In the Supreme Court case presided over by Chief Justice Sanjiv Khanna and Justice Sanjay Kumar, the petitioner appeared in person, while the respondents were represented by Ms. Amrita Singh and Mr. Ankit Gupta. The Court granted permission for the petitioner to argue personally and condoned any delay in proceedings. The petitioner was allowed to withdraw an additional affidavit dated 31.05.2024, which was deemed irrelevant to the primary issue concerning the judgment dated 22.01.2024.The Court concurred with the High Court's decision regarding the constitutional validity of certain provisions, specifically the authority to suspend under Regulation 23A of the Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) Regulations, 2016, in conjunction with Section 140 of the Insolvency and Bankruptcy Code, 2016. The Court found that these provisions do not infringe upon Articles 14, 19, or 21 of the Constitution of India. Consequently, the special leave petitions were disposed of, with the Court making no specific comments on the personal case of the petitioner. Any pending applications were also disposed of.
TaxTMI 
TaxTMI 
