In Brief
The Insolvency and Bankruptcy Board of India sought to transfer multiple writ petitions pending in different High Courts challenging the validity of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process of Personal Guarantors to Corporate Debtors) Rules, 2019. The Supreme Court granted the transfer petitions under Article 139(A) and 142 of the Constitution, holding that transfer was necessary to avoid conflicting interpretations across High Courts and to authoritatively settle the law on the nascent Insolvency and Bankruptcy Code.
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