SC issues notice in appeal challenging lay-offs during insolvency: Key questions raised on IBC-ID Act Conflict
The appeal challenges the NCLAT’s order upholding a purported lay-off by Resolution Professional, which the appellant claims was a disguised and unlawful retrenchment. The Court is set to examine whether IBC overrides ID Act provisions and whether such retrenchments can legally occur under the garb of lay-offs during insolvency proceedings.