Constitutional validity of some of the provisions of the IBC - ...

Court Rules Government Companies Aren't Equivalent to State Authorities Under Insolvency and Bankruptcy Code Provisions.

September 2, 2021

Case Laws     Insolvency and Bankruptcy     HC

Constitutional validity of some of the provisions of the IBC - Government companies to be equated with State or not - It is not an arm of the State. It is usually performing a commercial or/and business functions. A Government Company cannot be equated with a State authority, like National Highway Authority of India (NHAI), which is performing statutory functions or like other Departments, like Postal, Telegraph or the Railways or Public Works Department. - HC

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