Supreme Court strengthens India's insolvency framework by clamping down on frivolous appeals.

Supreme Court strengthens India's insolvency framework by clamping down on frivolous appeals. The bench dismissed challenges from Torrent Power, Jindal Power, and Vantage Point Asset Management against Sarda Energy's approved resolution plan for SKS Power Generation. The court warned that unsuccessful bidders cannot use procedural objections to seek second chances, stating such litigation delays resolution and erodes the time-bound structure of the Insolvency and Bankruptcy Code. Justices emphasized that repeated challenges convert corporate resolution into protracted contests, incentivizing delay and strategic obstruction. This landmark ruling reinforces that once creditor committees approve resolution plans through proper procedures, courts cannot interfere.