In Madhusudan Tantia v. Amit Choraria, 2020 SCC OnLine NCLAT 713 the Hon’ble National Company Law Appellate Tribunal ruled on the enhanced default threshold under Section 4 of the IBC which reignited a crucial debate: can a delegated legislation operate retrospectively without explicit statutory backing?
In this sharply reasoned piece co-authored by Naman Singh Bagga, Partner C&S Partners unpacked why the 24 March 2020 notification which raised the minimum default from ₹1 lakh to ₹1 crore, cannot be treated as retrospective. The article challenges the Tribunal’s reliance on the General Clauses Act, revisit the limits of delegated legislative power, and highlight the growing significance of e‑gazette publication in determining when a law truly comes into force.
A thought‑provoking read for anyone tracking insolvency law, statutory interpretation, or the evolving architecture of delegated legislation in India.
The Article was published by SCC Online and the link to original article can be found here.