Committee Of Creditors Of Essar Steel ... vs Satish Kumar Gupta

The Supreme Court addressed the constitutional validity of Sections 4 and 6 of the Insolvency and Bankruptcy Code (Amendment) Act, 2019, and clarified the roles of resolution applicants, resolution professionals, and the Committee of Creditors under the Insolvency and Bankruptcy Code, 2016. The Court emphasized that the jurisdiction of the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT) is crucial in approving resolution plans. The judgment also reaffirmed the principles established in ArcelorMittal India Private Limited v. Satish Kumar Gupta, ensuring adherence to the procedural requirements of the Code in corporate insolvency resolution processes.