The Supreme Court of India has ruled that development rights validly terminated prior to the initiation of the Corporate Insolvency Resolution Process (CIRP) do not constitute “assets” of the Corporate Debtor protected under the moratorium provisions of Section 14 of the Insolvency and Bankruptcy Code, 2016 (IBC). In a significant judgment delivered on November 28,
IBC Moratorium Cannot Be Used as a Shield for Non-Performance in Urban Redevelopment Projects: Supreme Court
