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A bench of justices JB Pardiwala and R Mahadevan dismissed an appeal filed by AA Estates Private Limited, currently undergoing Corporate Insolvency Resolution Process (CIRP). (HT)

Nov 29, 06:41 AM IST 3 min read

The Supreme Court emphasized that insolvency protection should not hinder redevelopment projects essential for public welfare, asserting that the Insolvency and Bankruptcy Code (IBC) cannot shield negligent developers. The court upheld a Bombay High Court ruling allowing Tristar Development to proceed with redeveloping the Kher Nagar Sukhsadan Society, affirming citizens' rights to safe housing and dignity.

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