Plea challenging validity of Section 95 of IBC: Delhi High Court notice to Centre, RBI

The petition argued that Section 240A of the IBC specifically permits the guarantor of an MSME to propose a resolution plan, however the same is barred by Section 95.
 IBC, Delhi High Court
IBC, Delhi High Court

The Delhi High Court on Wednesday issued notices to the Central government, the Reserve Bank of India (RBI), the Insolvency and Bankruptcy Board (IBC Board), and a Committee of Creditors (CoC), on a petition challenging the constitutional validity of Sections 95 and 101 of the Insolvency and Bankruptcy Code (IBC) [Varun Jajoo and Ors v Union of India and Ors].

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