A judgement has been held by Hon’ble Supreme Court that the powers of the NCLT under the IBC do not extend to adjudicating disputes relating to quasi- judicial or statutory authorities.

The Apex court of the country has denied to put stay on the NCDRC’s order allowing the homebuyers of JayPee Infratech Ltd. to move against the parent company Jai Prakash and Associates for compensation and possession of their respective flats.

The IBC is playing a crucial role in helping the banks recover their bad debts and these vacations if avoided can help in resolving the mounting cases and help in ease of doing business.