Supreme Court of India · 2020-10-29
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA vs LALIT KUMAR JAIN
- Citation / case number
- SC 2020/18984
- Court
- Supreme Court of India
- Petitioner
- INSOLVENCY AND BANKRUPTCY BOARD OF INDIA
- Respondent
- LALIT KUMAR JAIN
- Author
- HON'BLE MR. JUSTICE L. NAGESWARA RAO
- Bench
- HON'BLE MR. JUSTICE L. NAGESWARA RAO, HON'BLE MR. JUSTICE HEMANT GUPTA, HON'BLE MR. JUSTICE AJAY RASTOGI
Judgment text excerpt
The Supreme Court addressed the transfer petitions filed by the Insolvency and Bankruptcy Board of India under Article 139(A) and Article 142 of the Constitution, seeking to transfer writ petitions from various High Courts to itself. The court recognized the need for a unified approach to the interpretation and application of the Insolvency and Bankruptcy Code, particularly concerning personal guarantors to corporate debtors. The petitions were allowed, facilitating the centralization of cases for consistent adjudication.