Supreme Court upholds waterfall mechanism under IBC; Division Bench overturns Rainbow ruling
The PVVNL pronouncement is a major relief for the creditors and financial institutions constantly pressing for clarity on the issue.
Raman Ispat Sundaresh Bhatt National Company Law Tribunal Supreme Court National Company Law Appellate Tribunal Paschimanchal Vidyut Vitran Nigam Ltd
Source: barandbench.com