Mediation not only democratises insolvency resolution processes, but creates an inclusive space that benefits all parties
What would you do when opponents resolve their differences and settle disputes? You would pat them on their backs and wish them well. The Supreme Court exercised its special powers under Article 142 of the Constitution of India to do just that, in two cases involving the settlement of claims between creditors and debtor companies.
This gesture came in cases filed by the creditors against some companies before the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code, 2016 (Code). Article 142 gives powers to the SC to pass such orders as are necessary for doing complete justice in any …
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