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SC upholds constitutional validity of Insolvency and Bankruptcy Code
Highlights
The Supreme Court on Friday upheld the constitutional validity of the Insolvency and Bankruptcy Code IBC
New Delhi: The Supreme Court on Friday upheld the constitutional validity of the Insolvency and Bankruptcy Code (IBC).
A bench headed by Justice R F Nariman said they have upheld the constitutional validity "in its entirety". The court, however, said that related parties in the act should mean a person connected with the business.
The bench disposed of a batch of pleas filed by companies challenging various provisions of the IBC.
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