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Filename: drivers/Session_files_driver.php

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Backtrace:

File: /home/u936103050/domains/judicialtestseries.com/public_html/application/controllers/Webpage.php
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Function: library

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Function: require_once

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Backtrace:

File: /home/u936103050/domains/judicialtestseries.com/public_html/application/controllers/Webpage.php
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Function: library

File: /home/u936103050/domains/judicialtestseries.com/public_html/index.php
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Function: require_once

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File: /home/u936103050/domains/judicialtestseries.com/public_html/application/controllers/Webpage.php
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Function: library

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Line: 315
Function: require_once

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Filename: drivers/Session_files_driver.php

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File: /home/u936103050/domains/judicialtestseries.com/public_html/application/controllers/Webpage.php
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Function: library

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Function: require_once

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Filename: drivers/Session_files_driver.php

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Backtrace:

File: /home/u936103050/domains/judicialtestseries.com/public_html/application/controllers/Webpage.php
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Function: library

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Function: require_once

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Filename: drivers/Session_files_driver.php

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Backtrace:

File: /home/u936103050/domains/judicialtestseries.com/public_html/application/controllers/Webpage.php
Line: 7
Function: library

File: /home/u936103050/domains/judicialtestseries.com/public_html/index.php
Line: 315
Function: require_once

Has An Amendment of 2019 to Section 31 IBC Retrospective Effect?
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Has An Amendment of 2019 to Section 31 IBC Retrospective Effect?

05 Jun 2021 04:00 pm

13th April 2021 Supreme Court

Justices: RF Nariman, BR Gavai and Hrishikesh Roy

Section 31 of the Insolvency and Bankruptcy Code

The Central Government, any State Government or any local authority to whom an operational debt is owned would come within the ambit of ‘operational debtor’ as defined under subsection (20) of Section 5 of the I&B Code. Consequently, a person to whom a debt is owed would be covered by the definition of ‘creditor’ as defined under subsection (10) of Section 3 of the I&B Code. As such, even without the 2019 amendment, the Central Government, any State Government or any local authority to whom a debt is owed, including the statutory dues, would be covered by the definition of ‘creditor’ and in any case, by the term ‘other stakeholders’ as provided in subsection (1) of Section 31 of the I&B Code.

Ghanshyam Mishra and Sons Private Limited vs. Edelwiss Asset Reconstruction Company Ltd.
(CA 8129 of 2019)


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