SC overturning order in BPSL case a course correction for IBC: Experts

The SC has also addressed the issue of delays in the IBC due to litigation and extensions, which stand in the way of implementing a successful resolution plan

The Supreme Court judgment overturning its previous order for liquidation of Bhushan Steel & Power on Friday is being seen by experts as a much-needed course correction for the Insolvency and Bankruptcy Code (IBC).

 

According to them, it has brought certainty and underscored the legislative intent of the law.

 

IBC experts said the apex court’s order would also improve investor appetite and recovery for creditors.  

 

“The Supreme Court’s decision in the JSW-Bhushan Steel matter signals a maturing of the IBC as a statute moving it closer to its legislative intent of providing speed, certainty, and finality in resolution… Buyers can