Supreme Court Upholds CIRP Admission Based on Debt Acknowledgment: Vidyasagar Prasad vs. UCO Bank (2024) LEGAL ISSUE: Whether acknowledgment of debt in balance sheets and One Time Settlement (OTS) proposals can extend the limitation period for initiating Corporate Insolvency Resolution Process (CIRP). CASE TYPE: Insolvency Law Case Name: Vidyasagar Prasad vs. UCO Bank & Anr. […]
Supreme Court Clarifies the Role of Balance Sheets in Acknowledging Debt under IBC Date of the Judgment: April 15, 2021 Citation: (2021) INSC 218 Judges: R.F. Nariman, J., B.R. Gavai, J., Hrishikesh Roy, J. Can a company’s balance sheet serve as valid proof of debt acknowledgment, thereby extending the limitation period for initiating insolvency proceedings?
Supreme Court Refuses to Stay Electoral Bond Scheme: Association for Democratic Reforms vs. Union of India (2021) LEGAL ISSUE: Whether the Electoral Bond Scheme, 2018 should be stayed. CASE TYPE: Public Interest Litigation, Constitutional Law Case Name: Association for Democratic Reforms & Anr. vs. Union of India & Ors. [Judgment Date]: 26 March 2021 Date
