Supreme Court upholds equitable value maximisation under the Insolvency and Bankruptcy Code

Published On: 27/11/2018

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The Supreme Court of India recently dismissed an appeal by a competing resolution applicant, asserting that the acceptance of UltraTech's recent resolution plan to acquire the distressed Indian cement manufacturer, Binani Cement, violated the insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. INDUSLAW's Nishant Singh, Pooja Dadoo and Nikhil Bhat discuss the court’s judgment in detail.