COMMITTEE OF CREDITORS OF ESSAR STEEL INDIA LIMITED THROUGH AUTHORISED SIGNATORY 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 held that the NCLT and NCLAT have jurisdiction over approved resolution plans and emphasized the importance of adhering to the eligibility criteria under Section 29-A of the Code. The appeals were admitted, allowing for further examination of the resolution plans submitted for Essar Steel India Limited.