https://www.taxtmi.com/caselaws?id=354217 The court upheld the validity of Section 4(b) of the Sick Industrial Companies (Special Provisions) Repeal Act, 2003, dismissing the writ petition challenging its constitutionality. It held that the abatement of proceedings under the Repeal Act did not violate the petitioner's right to appeal, as the intention to replace the old insolvency regime with the Insolvency and Bankruptcy Code, 2016 was clear. The court emphasized that the petitioner had the option to approach the NCLT within 180 days, and their legitimate expectation to be governed by the repealed enactment was not upheld. en-us Tue, 05 Dec 2017 00:00:00 +0530 Sat, 20 Jan 2018 08:18:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354217 The court upheld the validity of Section 4(b) of the Sick Industrial Companies (Special Provisions) Repeal Act, 2003, dismissing the writ petition challenging its constitutionality. It held that the abatement of proceedings under the Repeal Act did not violate the petitioner's right to appeal, as the intention to replace the old insolvency regime with the Insolvency and Bankruptcy Code, 2016 was clear. The court emphasized that the petitioner had the option to approach the NCLT within 180 days, and their legitimate expectation to be governed by the repealed enactment was not upheld. Case-Laws Insolvency and Bankruptcy Tue, 05 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354217