In Innoventive Industries Ltd v ICICI Bank (2017), what did the Supreme Court hold about the…

In Innoventive Industries (2017) the Court found that "the earlier State law is repugnant to the later Parliamentary enactment" and that the Maharashtra Act "cannot stand in the way of the corporate insolvency resolution process under the Code". Under Article 254, the Parliamentary law prevails, and the Code's non obstante clause in section 238 also applies. The Court rejected the view that the two laws operate in separate fields.