BANK OF NEW YORK MELLON LONDON BRANCH vs ZENITH INFOTECH LIMITED

The Supreme Court addressed the implications of the repeal of the Sick Industrial Companies (Special Provisions) Act, 1985 by the SICA Repeal Act, 2003, and the subsequent enactment of the Insolvency and Bankruptcy Code, 2016. The Court held that under Section 4(b) of the Repeal Act, all proceedings before the B.I.F.R. stand abated, and companies must seek references under the new Code within 180 days. The judgment clarified the transition from the old regime to the new insolvency framework, emphasizing the role of the National Company Law Tribunal as the adjudicating authority under the new law.