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Supreme Court of India

Pioneer Urban Land and Infrastructure Limited & Anr. v. Union of India & Ors.

Neutral citation
Bench R. F. Nariman, Sanjiv Khanna and Surya Kant JJ.
Decided 9 August 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.

26 Supreme Court benches have cited this judgment.

What the Court ordered

We are of the view that this judgment would apply squarely on all fours so that the period of 14 days given to the NCLT for decision under Section 7(4) would be directory.

Judgment, page 120

From the headnote

Insolvency and Bankruptcy Code, 2016: ss. 5(8)(f), 21(6A)(b) and 25A – Amendments made to the Code vide Amendment Act, which deem allottees of real estate projects to be “financial creditors” so that they may initiate insolvency proceedings u/s. 7 against the real estate developer and being financial creditors, were entitled to be represented in the Committee of Creditors by authorised representatives – Constitutional validity of amendments made to the Code – Held: Constitutionality of the Amendment Act is upheld – Amendment to the Code does not infringe Arts. 14, 19(1)(g) r/w Art. 19(6), or…

Authorities it was built on

Where later benches applied it

Of those, 12 relied on · 14 referred to

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