Anuj Jain, IRP for Jaypee Infratech vs Axis Bank: Clearing the Air Qua Preferential Transactions and Third-Party Mortgages under IBC

Anuj Jain, IRP for Jaypee Infratech vs Axis Bank: Clearing the Air Qua Preferential Transactions and Third-Party Mortgages under IBC
Supreme Court

The Supreme Court in its recent judgment in Anuj Jain, Interim Resolution Professional for Jaypee Infratech Limited vs. Axis Bank Limited Etc. [Judgment dated 26.02.2020 in Civil Appeal No. 8512-8527 OF 2019] has clarified several issues including the scope and ambit for adjudication of preferential transactions, and the nature of financial debt particularly in relation to third-party mortgages amongst others. The present article seeks to encapsulate the crux of the judgment in a brief manner. The major highlights of the judgment are as follows:

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