Supreme Court upholds constitutional validity of IBC

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.