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THE SUPREME COURT OF INDIA in it's Judgment Dated 09 August 2009 wrt
CIVIL ORIGINAL/APPELLATE JURISDICTION
WRIT PETITION (CIVIL) NO. 43 OF 2019,
challenging the constitutional validity of amendments made to the Insolvency and Bankruptcy Code, 2016, has held that,
"The Amendment Act to the Code does not infringe Articles
14, 19(1)(g) read with Article 19(6), or 300-A of the Constitution of India."
The court has also stated that, in case of conflict "the Code will prevail over the Real Estate (Regulation and Development) Act, 2016 (RERA).
The amendments made to the Insolvency and Bankruptcy Code, "deem allottees of real estate projects to be “financial creditors” so that they may trigger the Code, under Section 7 thereof, against the real estate developer. In addition, being financial creditors, they are entitled to be represented in the Committee of Creditors by authorised representatives."
Download Judgment
Download RERA 2016
Scroll to Download Act Full RERA 2016
THE SUPREME COURT OF INDIA in it's Judgment Dated 09 August 2009 wrt
CIVIL ORIGINAL/APPELLATE JURISDICTION
WRIT PETITION (CIVIL) NO. 43 OF 2019,
challenging the constitutional validity of amendments made to the Insolvency and Bankruptcy Code, 2016, has held that,
"The Amendment Act to the Code does not infringe Articles
14, 19(1)(g) read with Article 19(6), or 300-A of the Constitution of India."
The court has also stated that, in case of conflict "the Code will prevail over the Real Estate (Regulation and Development) Act, 2016 (RERA).
The amendments made to the Insolvency and Bankruptcy Code, "deem allottees of real estate projects to be “financial creditors” so that they may trigger the Code, under Section 7 thereof, against the real estate developer. In addition, being financial creditors, they are entitled to be represented in the Committee of Creditors by authorised representatives."
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Download RERA 2016
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