Share FacebookTwitterWhatsAppPinterestLinkedinCopy URLTelegramEmailTumblrReddItPrintKoo NEW DELHI, Feb 27 : The Supreme Court on Friday said the Insolvency and Bankruptcy Code (IBC), 2016, represents a conscious legislative choice to privilege speed, certainty and creditor-driven decision-making over “exhaustive” judicial scrutiny. The court said experience shows that unsuccessful bidders would always try to “spin” commercial decisions of the Committee of Creditors (CoC) as procedurally-faulty in order to secure a second shot through litigation by filing applications or making representations. “However, courts need to remain vigilant against any temptation to expand the scope of review beyond the narrow boundaries prescribed by the IBC,” a bench of Justices B V Nagarathna and R Mahadevan said.
