Unjustified Judicial Interference in IBC Processes Breaches Legal Discipline, Expeditious Resolutions Prioritized.

The Supreme Court ruled that the High Court improperly exercised judicial review by interfering with the Corporate Insolvency Resolution Process (CIRP) after the Committee of Creditors had approved a resolution plan. The CIRP, initiated six years ago with the plan approved four years back, highlights the need for timely resolutions. The High Court's intervention was deemed unjustified due to delays and existing proceedings under the Insolvency and Bankruptcy Code (IBC). The IBC is a comprehensive framework with adequate checks and remedies, and High Courts must exercise their review powers judiciously. The appeal against the High Court's decision was allowed. .....

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