Supreme Court of India · 2021-03-24
JAYPEE KENSINGTON BOULEVARD APARTMENTS WELFARE ASSOCIATION vs NBCC (INDIA) LTD
- Citation / case number
- SC 2020/14741
- Court
- Supreme Court of India
- Petitioner
- JAYPEE KENSINGTON BOULEVARD APARTMENTS WELFARE ASSOCIATION
- Respondent
- NBCC (INDIA) LTD
- Author
- HON'BLE MR. JUSTICE DINESH MAHESHWARI
- Bench
- HON'BLE MR. JUSTICE A.M. KHANWILKAR, HON'BLE MR. JUSTICE DINESH MAHESHWARI, HON'BLE MR. JUSTICE KRISHNA MURARI
Judgment text excerpt
The Supreme Court addressed the challenges arising from the corporate insolvency resolution process (CIRP) concerning Jaypee Infratech Limited. The court emphasized the need for a balanced resolution plan that considers the interests of various stakeholders, including homebuyers and financial creditors. Ultimately, the court upheld the resolution plan approved by the Committee of Creditors, reinforcing the importance of majority consent in the CIRP framework under the Insolvency and Bankruptcy Code.