IIM Rohtak hosted the law summit at Chandigarh Judicial Academy indiaeducationdiary.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiaeducationdiary.in Daily Mail and Mail on Sunday newspapers.
Banks are concerned about a recent Supreme Court ruling regarding India s Insolvency and Bankruptcy Code (IBC), which places tax departments and government agencies on par with secured creditors. The ruling has raised worries that tax authorities may claim a significant portion of the recovery, potentially compromising financial lenders interests and altering the priority of government dues.
The Court said that the need for an arbitrator to remain neutral assumes the highest importance, particularly since courts have very limited powers to interfere with arbitral awards.