IBC Resolution Plan Can't Ignore Government Dues : Supreme Court Dismisses Review Petitions Against 'Rainbow Papers'


31 Oct 2023 2:34 PM GMT


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The Supreme Court on Tuesday (October 31) dismissed a batch of review petitions filed against a 2022 judgment which held that the definition of a secured creditor under the Insolvency and Bankruptcy Code (IBC) 2016 included any government or governmental authority and that a resolution plan which ignored dues to the government was liable to be rejected.A bench comprising Justices Aniruddha...

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