Insolvency and Bankruptcy Code: SC overrules Bombay HC on jurisdiction of special courts in bankruptcy cases

The Supreme Court has clarified that special courts presided by a sessions or additional sessions judge can try complaints under the Insolvency and Bankruptcy Code 2016. The court set aside a Bombay High Court's decision that only special courts consisting of a metropolitan or judicial magistrate (JM) were empowered to hear complaints under the bankruptcy law.

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