Supreme Court Refuses To Interfere With Delhi HC Order On Interim Chairman Of SCBA Multi-State Co-operative Group Housing Society

The Supreme Court reaffirmed that an auction purchaser under the Insolvency and Bankruptcy Code (IBC) is entitled to the benefit of the COVID-19 limitation extension, despite a delayed deposit. The court's decision ensures that the purchaser's rights are protected during the pandemic, reflecting an understanding of the extraordinary circumstances affecting compliance with deadlines. This ruling is crucial for maintaining fairness in auction processes amid ongoing global challenges.