In setback for lenders, Supreme Court dismisses pleas over govt dues under IBC

In a setback for creditors, including State Bank of India and Indian Overseas Bank, the Supreme Court dismissed their petitions seeking a review of its prior ruling. The ruling stated that statutory creditors, such as tax authorities and government agencies, would be considered secured creditors under the Insolvency and Bankruptcy Code (IBC).

Disclaimer : Mytimesnow (MTN) lets you explore worldwide viral news just by analyzing social media trends. Tap read more at source for full news. The inclusion of any links does not necessarily imply any endorsement of the views expressed within them.