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2020 (10) TMI 1177 - SC - Insolvency and BankruptcyCIRP proceedings against the personal guarantors to corporate debtors - Transfer of the Writ Petitions filed before High Courts to this Court - vires of Section 95, 96, 99, 100, 101 of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- The Writ Petitions that are pending in the High Courts pertaining to the challenge to the Notification dated 15.11.2019 and related issues have to be transferred to this Court. Transfer of the Writ Petitions to this Court would avoid conflicting decisions by the High Courts which are in seisin of the Writ Petitions. The Insolvency and Bankruptcy Code is at a nascent stage and it is better that the interpretation of the provisions of the Code is taken up by this Court to avoid any confusion, and to authoritatively settle the law. Considering the importance of the issues raised in the Writ Petitions which need finality of judicial determination at the earliest, it is just and proper that the Writ Petitions are transferred from the High Courts to this Court. The Writ Petitions are giving rise to the above Transfer Petitions which are pending before the High Courts to this Court. The Registries of the High Courts are directed to transmit the records of the Writ Petitions forthwith. Petition allowed.
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