By utilising its powers under Article 142 of the Indian Constitution, the Supreme Court of India has delivered an unprecedented decision on August 09, 2018 in Chitra Sharma & Ors. v. Union of India and Ors., and other connected matters (the Jaypee / homebuyers Case). In this era of evolving jurisprudence on the Insolvency and Bankruptcy Code, 2016 (IBC), the Supreme Court, by this landmark decision, has settled some highly debated issues with respect to its implementation and has provided much required certainty. This has been achieved by the Supreme Court paving the way to reset the clock by re-commencing the Corporate Insolvency Resolution Process (CIRP).
Associate in the Dispute Resolution Practice at the Delhi office of Cyril Amarchand Mangaldas. Aditya focuses and specializes on disputes in relation to insolvency proceedings (under the Insolvency and Bankruptcy Code, 2016), and corporate – commercial, and criminal litigation. He can be reached at email@example.com