Insolvency and Bankruptcy Code Conflict with Special Statues

Gaurav Mitra and Akshay Sharma
Advocates at Delhi High Court, India.

Volume III – Issue I, 2023

The Government of India with its ambition to make doing business in India easier, enacted the Insolvency and Bankruptcy Code, 2016, an Umbrella legislation to deal with the bankruptcy and Insolvency of Companies, Individuals and Partnership. However, since the code tries to seize the laws regarding to insolvency and bankruptcy and the Supreme Court verdict that it’s a complete code in itself creates an apparent conflict between IBC and SARFESI and Limitation Act.

The author in this paper will deal with the various conflicts between IBC and Limitation Act and SARFESI, the inclination of judiciary while interpreting such conflict in past, challenges while interpreting two special statutes and will summarize the findings by giving a conclusion.


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