W.P.(C) No. 000579 - / 2020
ASSOCIATION OF KARVY INVESTORS vs UNION OF INDIA
Status
DISPOSED
Judges
HON'BLE MR. JUSTICE ROHINTON FALI NARIMAN, HON'BLE MR. JUSTICE K.M. JOSEPH and HON'BLE MR. JUSTICE AJAY RASTOGI
Order Date
19-01-2021
Filed On
17-03-2020 11:17 AM
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View Full Judgment
AI Summary
# Primary Holding Parliament possesses plenary legislative competence to impose threshold eligibility conditions on financial creditors, including real estate allottees, for initiating Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, and Section 32A granting immunity to corporate debtors from pre-CIRP criminal liability upon change of management pursuant to an approved resolution plan is constitutionally valid, as such provisions satisfy the tests of intelligible differentia, reasonable classification under Article 14, and do not arbitrarily abridge rights under Articles 19(1)(g) or 21 of the Constitution.