The Supreme Court today (07.11.2023) commenced its hearings in a batch of petitions challenging the constitutionality of various provisions of the Insolvency and Bankruptcy Code (IBC) relating to Personal Guarantors Insolvency Resolution Process.
The central contention raised by the petitioners challenging Sections 95(1), 96(1), 97(5), 99(1), 99(2), 99(4), 99(5), 99(6), and 100 of the Code was the alleged absence of due process in the application of these provisions. The petitioners argued before a bench comprising CJI DY Chandrachud, Justice JB Pardiwala, and Justice Manoj Misra that the primary issue was that the personal guarantor was not provided any opportunity to present his case or dispute the initiation of insolvency resolution p…
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