[1/13, 20:32] Sekarreporter 1: SC asks govt to respond to homebuyer’s plea challenging insolvency ordinance: https://www.thehindu.com/news/national/sc-asks-govt-to-respond-to-homebuyers-plea-challenging-insolvency-ordinance/article30557640.ece [1/13, 20:32] Sekarreporter 1: The petition said the ordinance created a “class within a class” and suffered from manifest arbitrariness. The Supreme Court on Monday asked the government to respond to a petition challenging the newly promulgated Insolvency and Bankruptcy Code (Amendment) Ordinance of 2019, which retrospectively prohibits individual homebuyers from initiating insolvency proceedings against builders. A Bench led by Justice Rohinton F. Nariman issued notice to the government and ordered status quo in the case of insolvency applications already filed by homebuyers in the National Company Law Tribunal (NCLT).

[1/13, 20:32] Sekarreporter 1: SC asks govt to respond to homebuyer’s plea challenging insolvency ordinance: https://www.thehindu.com/news/national/sc-asks-govt-to-respond-to-homebuyers-plea-challenging-insolvency-ordinance/article30557640.ece
[1/13, 20:32] Sekarreporter 1: The petition said the ordinance created a “class within a class” and suffered from manifest arbitrariness.
The Supreme Court on Monday asked the government to respond to a petition challenging the newly promulgated Insolvency and Bankruptcy Code (Amendment) Ordinance of 2019, which retrospectively prohibits individual homebuyers from initiating insolvency proceedings against builders.

A Bench led by Justice Rohinton F. Nariman issued notice to the government and ordered status quo in the case of insolvency applications already filed by homebuyers in the National Company Law Tribunal (NCLT).

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