Delays, even with no jurisdiction

Judicial overreach and appropriation of power are slowing the insolvency process

An impediment in the current insolvency regime is judicial delays. Consider the following examples of judicial pronouncements related to corporate insolvency from the last few years:
 

(a) On September 5, 2018, the adjudicating authority (AA) struck down a regulation that provided for the issue of invitation of expression of interest for being ultra vires of the Insolvency and Bankruptcy Code, 2016 (IBC) (State Bank of India vs Su-Kam Power Systems Ltd). On November 22, 2022, the Delhi High Court set aside the said order with a finding that the jurisdiction to deal with the validity and legality of the regulations