Search Results Page

Search Results

1 - 10 of 19 (0.24 seconds)
Hiranmaye Energy Limited And Another vs West Bengal Electricity Regulatory on 29 June, 2021 cites

Swiss Ribbons Pvt. Ltd. vs Union Of India on 25 January, 2019

21. The expositions abovementioned make it clear that the Insolvency and Bankruptcy Code, 2016 has been enacted to consolidate and amend the laws relating to reorganisation and insolvency resolution of corporate persons and other entrepreneurs in a time-bound manner so as to ensure maximisation of value of assets of such persons and to balance the interest of all the stakeholders. As regards corporate debtor, the primary focus of the Code is to ensure its revival and continuation by protecting it from its own management and, as far as feasible, to save it from liquidation. As tersely put by this Court in Swiss Ribbons [Swiss Ribbons (P) Ltd. v. Union of India, (2019) 4 SCC 17] , the Code is thus a beneficial legislation which puts the corporate debtor back on its feet, not being a mere recovery legislation for creditors." Merely because an instrumentality of State is engaged in business it cannot be put to any more disadvantage than a private player. The State cannot also be required to grant concessions outside the contract and outside what a private player would ordinarily be required to give. Under the garb of requiring fairness in action even the State business entities cannot be imposed with terms & conditions on non-commercial considerations.
Supreme Court of India Cites 118 - Cited by 349 - R F Nariman - Full Document
1   2 Next