Where Section 23JB(3) of the SCRA and Section 238 of the IBC appear to conflict, the matter is resolved by principles of statutory interpretation. Since the IBC is a later and special legislation dealing comprehensively with insolvency and contains an overriding provision under Section 238, the provisions of the IBC generally prevail in insolvency proceedings. However, the specific facts and nature of the SEBI recovery claim would be relevant in determining the extent of such precedence.

Answer given by Shubhamm Sir at 30-May-2026 06:12 PM