Supreme Court Orders Transfer to Itself All Pleas Challenging Provisions of Insolvency & Bankruptcy Code on Personal Guarantors

The Supreme Court has ordered the transfer of petitions pending across High Courts, challenging the provisions of Insolvency & Bankruptcy Code pertaining to the issues of personal guarantors.
A bench comprising Justices L Nageswara Rao, Hemant Gupta & Ajay Rastogi heard the matter.
The plea had been filed by IBBI seeking transfer on the ground of multiplicity of proceedings and to avoid conflicting judgments on account of pendency of similar issues across High Court.