The Supreme Court of India has upheld the validity of the Insolvency and Bankruptcy Code, 2016. Background: The case was initiated by a petition filed by a group of companies, which challenged the validity of the Code on the grounds that it was unconstitutional and violated the fundamental right to property. Parties: The petitioners were represented by advocate Mukul Rohatgi, while the Union of India was represented by advocate Tushar Mehta. Legal issues: The primary issue before the court was whether the Code was in contravention of the fundamental right to property guaranteed under Article 300A of the Constitution. The court also examined whether the Code was arbitrary and unreasonable. Court observations: The Supreme Court observed that the Code was a valid piece of legislation that aimed to promote economic growth and stability by providing a framework for the resolution of insolvency and bankruptcy. The court noted that the Code did not violate the fundamental right to property, as it only provided a framework for the resolution of insolvency and bankruptcy and did not deprive individuals of their property without due process. Significance: The judgment is significant as it upholds the validity of a law that aims to promote economic growth and stability. The Supreme Court's decision demonstrates its commitment to upholding the constitutional values of economic development and protecting the rights of all stakeholders, including creditors and debtors. The validation of the Code is expected to promote confidence in the economy and encourage investment in the country.