SWISS RIBBONS AND ITS IMPLICATIONS

Published On: 12/02/2019

Authors:

The recent Supreme Court judgement in Swiss Ribbons, upholding the constitutionality of the Insolvency & Bankruptcy Code, has considerable implications for resolution applicants and promoters. Do the courts have the power to overrule the commercial basis underpinning the acceptance or rejection of a resolution plan, or a last ditch rescue plan submitted by a shareholder? INDUSLAW’s Sudipta Routh and Pooja Dadoo discuss.