https://www.taxtmi.com/caselaws?id=403210 The Supreme Court upheld IBC amendments introducing a minimum threshold for certain financial creditors and real estate allottees, finding the classification had a rational nexus with the Code's aims of collective resolution, reduced docket burden and protection against unilateral action. It also held Explanation II to Section 11 to be clarificatory and retrospective, because it only removed doubt about the corporate debtor bar. Section 32A was sustained as a conditioned clean-slate immunity that preserved prosecution of offenders while aiding resolution. The third proviso to Section 7(1) was also upheld despite retrospective effect, as it served a legitimate public purpose and allowed refiling under law. en-us Tue, 19 Jan 2021 00:00:00 +0530 Thu, 10 Feb 2022 16:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403210 The Supreme Court upheld IBC amendments introducing a minimum threshold for certain financial creditors and real estate allottees, finding the classification had a rational nexus with the Code's aims of collective resolution, reduced docket burden and protection against unilateral action. It also held Explanation II to Section 11 to be clarificatory and retrospective, because it only removed doubt about the corporate debtor bar. Section 32A was sustained as a conditioned clean-slate immunity that preserved prosecution of offenders while aiding resolution. The third proviso to Section 7(1) was also upheld despite retrospective effect, as it served a legitimate public purpose and allowed refiling under law. Case-Laws Insolvency and Bankruptcy Tue, 19 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403210