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Supreme Court of India

Swiss Ribbons Pvt. Ltd. & Anr. v. Union of India & Ors.

Neutral citation
Reported as [2019] 3 S.C.R. 535
Bench R.F. Nariman and Navin Sinha JJ.
Decided 25 January 2019

INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.

56 Supreme Court benches have cited this judgment.

What the Court ordered

We are of the view that persons who act jointly or in concert with others are connected with the business activity of the re solution applicant.

Judgment, page 120

From the headnote

Insolvency and Bankruptcy Code, 2016: Constitutional validity of – Held: Provisions of the Code passes constitutional muster. ss. 5(7), 5(8), 5(20), 7(1), 7(4), 7(5), 8 and 9 – Classific ation between financial creditor and operational creditor – Whether discriminatory, arbitrary, and violative of Art. 14 – Held: Preserving the corporate debtor as a going concern, while ensuring maxim um recovery for all creditors being the objective of the ode, financial creditors are clearly different from operational cr editors – Thus, there is an intelligible differentia between the two which has a direct

Authorities it was built on

Where later benches applied it

Of those, 18 relied on · 1 followed · 1 distinguished · 36 referred to

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