Скачать или смотреть Case Analysis - Innoventive Industries Ltd vs ICICI Bank

The provided text is a Supreme Court of India judgment from 2017 in the case of Innoventive Industries Ltd. vs. ICICI Bank. The case involved a corporate debt restructuring plan that failed, leading to ICICI Bank filing for insolvency proceedings against Innoventive Industries. The judgment explores the application of the Insolvency and Bankruptcy Code (IBC) of 2016, particularly its non-obstante clause and its effect on a pre-existing State law (Maharashtra Relief Undertakings Act, 1958) that suspended liabilities for a period of one year. The court ultimately dismissed the appeal, upholding the lower tribunals’ decision that the IBC prevails over the State law and that the company's failure to pay its debts triggered the insolvency process.