Corporate Insolvency Resolution Process

Supreme Court Mandates CCI Approval Before CoC Nod for Combination Resolution Plans: Independent Sugar Corporation Ltd. vs. Girish Sriram Juneja & Ors. (2025) INSC 124 (29 January 2025)

/ Combination, Competition Act, 2002, Competition Act, 2002 with Section 5, Corporate Insolvency Resolution Process, Hrishikesh Roy, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 31(4), Judges, S.V.N. Bhatti, Sudhanshu Dhulia

Date of the Judgment: 29 January 2025 Citation: (2025) INSC 124 Judges: Hrishikesh Roy, J., Sudhanshu Dhulia, J., S.V.N. Bhatti, J. (Majority opinion by Hrishikesh Roy, J. and Sudhanshu Dhulia, J., with a dissenting opinion by S.V.N. Bhatti, J.) Can a resolution plan involving a combination under the Competition Act, 2002, be approved by the […]

Supreme Court Mandates CCI Approval Before CoC Nod for Combination Resolution Plans: Independent Sugar Corporation Ltd. vs. Girish Sriram Juneja & Ors. (2025) INSC 124 (29 January 2025) Read Post »

Supreme Court Clarifies Financial Creditor Status in Insolvency Cases: China Development Bank vs. Doha Bank (2024)

/ Contract of Guarantee, Corporate Insolvency Resolution Process, Indian Contract Act, 1872, Indian Contract Act, 1872 with Section 126, Indian Contract Act, 1872 with Section 127, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 14(1), Insolvency and Bankruptcy Code, 2016 with Section 5(8)

Supreme Court Clarifies Financial Creditor Status in Insolvency Cases: China Development Bank vs. Doha Bank (2024) LEGAL ISSUE: Whether entities providing loans to a company, with another entity acting as a guarantor through a Deed of Hypothecation, qualify as ‘Financial Creditors’ under the Insolvency and Bankruptcy Code, 2016 (IBC). CASE TYPE: Insolvency Law Case Name:

Supreme Court Clarifies Financial Creditor Status in Insolvency Cases: China Development Bank vs. Doha Bank (2024) Read Post »

Supreme Court Upholds Resolution Plan, Prioritizing IBC Over SEZ Act: Noida SEZ vs. Manish Agarwal (2024)

/ Corporate Insolvency Resolution Process, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 238, Insolvency and Bankruptcy Code, 2016 with Section 30, Special Economic Zone Act, 2005, Special Economic Zone Act, 2005 with Section 34(2)(d)

Supreme Court Upholds Resolution Plan, Prioritizing IBC Over SEZ Act: Noida SEZ vs. Manish Agarwal (2024) LEGAL ISSUE: Whether the Insolvency and Bankruptcy Code, 2016 (IBC) overrides the Special Economic Zone Act, 2005 (SEZ Act) in the context of a resolution plan. CASE TYPE: Insolvency Law Case Name: Noida Special Economic Zone Authority vs. Manish

Supreme Court Upholds Resolution Plan, Prioritizing IBC Over SEZ Act: Noida SEZ vs. Manish Agarwal (2024) Read Post »

Supreme Court Clarifies Procedure for CIRP Withdrawal: GLAS Trust Company LLC vs. BYJU Raveendran & Ors. (23 October 2024)

/ Corporate Insolvency Resolution Process, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 12A, Insolvency and Bankruptcy Code, 2016 with Section 9, National Company Law Appellate Tribunal Rules, 2016, National Company Law Appellate Tribunal Rules, 2016 with Rule 11

Supreme Court Clarifies Procedure for CIRP Withdrawal: GLAS Trust Company LLC vs. BYJU Raveendran & Ors. (2024) LEGAL ISSUE: Clarification on the procedure for withdrawal of Corporate Insolvency Resolution Process (CIRP) applications after admission but before the constitution of the Committee of Creditors (CoC). CASE TYPE: Insolvency Law Case Name: GLAS Trust Company LLC vs.

Supreme Court Clarifies Procedure for CIRP Withdrawal: GLAS Trust Company LLC vs. BYJU Raveendran & Ors. (23 October 2024) Read Post »

Supreme Court settles jurisdiction for offences under Insolvency and Bankruptcy Code: Insolvency and Bankruptcy Board of India vs. Satyanarayan Bankatlal Malu & Ors. (2024) INSC 319 (19 April 2024)

/ Code of Criminal Procedure, 1973, Code of Criminal Procedure, 1973 with Section 190, Code of Criminal Procedure, 1973 with Section 193, Companies Act, 2013, Companies Act, 2013 with Section 435, Corporate Insolvency Resolution Process, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 236, Special Courts

Supreme Court Clarifies Jurisdiction for Offences under the Insolvency and Bankruptcy Code Date of the Judgment: 19 April 2024 Citation: (2024) INSC 319 Judges: B.R. Gavai, J. and Sandeep Mehta, J. Can the amendments to the Companies Act, 2013, impact the jurisdiction of courts trying offences under the Insolvency and Bankruptcy Code, 2016? The Supreme

Supreme Court settles jurisdiction for offences under Insolvency and Bankruptcy Code: Insolvency and Bankruptcy Board of India vs. Satyanarayan Bankatlal Malu & Ors. (2024) INSC 319 (19 April 2024) Read Post »

Supreme Court Sets Aside Resolution Plan Due to Procedural Lapses: Greater Noida Industrial Development Authority vs. Prabhjit Singh Soni (2024)

/ Corporate Insolvency Resolution Process, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 30(2), Insolvency and Bankruptcy Code, 2016 with Section 60(5), U.P. Industrial Area Development Act, 1976, U.P. Industrial Area Development Act, 1976 with Section 13, U.P. Industrial Area Development Act, 1976 with Section 13A

Supreme Court Sets Aside Resolution Plan Due to Procedural Lapses: Greater Noida Industrial Development Authority vs. Prabhjit Singh Soni (2024) LEGAL ISSUE: Whether a resolution plan can be set aside for procedural lapses and non-compliance with statutory requirements under the Insolvency and Bankruptcy Code, 2016. CASE TYPE: Insolvency Law Case Name: Greater Noida Industrial Development

Supreme Court Sets Aside Resolution Plan Due to Procedural Lapses: Greater Noida Industrial Development Authority vs. Prabhjit Singh Soni (2024) Read Post »

Supreme Court overturns NCLT order on revaluation of assets in insolvency case: Ramkrishna Forgings Limited vs. Ravindra Loonkar (2023)

/ Corporate Insolvency Resolution Process, Income Tax Act, 1961, Income Tax Act, 1961 with Section 79, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 30, Insolvency and Bankruptcy Code, 2016 with Section 31

Supreme Court overturns NCLT order on revaluation of assets in insolvency case: Ramkrishna Forgings Limited vs. Ravindra Loonkar (2023) LEGAL ISSUE: Whether the National Company Law Tribunal (NCLT) can order a revaluation of a corporate debtor’s assets after the Committee of Creditors (CoC) has approved a resolution plan. CASE TYPE: Insolvency and Bankruptcy Law Case

Supreme Court overturns NCLT order on revaluation of assets in insolvency case: Ramkrishna Forgings Limited vs. Ravindra Loonkar (2023) Read Post »

Supreme Court Clarifies Status of Compulsorily Convertible Debentures Under IBC: IFCI Limited vs. Sutanu Sinha & Ors. (2023)

/ Corporate Insolvency Resolution Process, Insolvency and Bankruptcy Code, 2016, Insolvency Law, Insolvency Law with Section 3(11)

Supreme Court Clarifies Status of Compulsorily Convertible Debentures Under IBC: IFCI Limited vs. Sutanu Sinha & Ors. (2023) LEGAL ISSUE: Whether Compulsorily Convertible Debentures (CCDs) should be treated as debt or equity under the Insolvency and Bankruptcy Code, 2016 (IBC). CASE TYPE: Insolvency Law Case Name: M/s. IFCI Limited vs. Sutanu Sinha & Ors. [Judgment

Supreme Court Clarifies Status of Compulsorily Convertible Debentures Under IBC: IFCI Limited vs. Sutanu Sinha & Ors. (2023) Read Post »

Supreme Court clarifies limitation for IBC application based on recovery certificates: Totempudi Salalith vs. State Bank of India (2023)

/ Corporate Insolvency Resolution Process, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 238A, Insolvency and Bankruptcy Code, 2016 with Section 7, Limitation Act, 1963, Limitation Act, 1963 with Article 136, Limitation Act, 1963 with Article 137, Limitation Act, 1963 with Section 18, Recovery of Debts and Bankruptcy Act, 1993, Recovery of Debts and Bankruptcy Act, 1993 with Section 19(22A)

Supreme Court clarifies limitation for IBC application based on recovery certificates: Totempudi Salalith vs. State Bank of India (2023) LEGAL ISSUE: Whether a financial creditor can initiate Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC) based on a recovery certificate issued by the Debt Recovery Tribunal (DRT), and what is

Supreme Court clarifies limitation for IBC application based on recovery certificates: Totempudi Salalith vs. State Bank of India (2023) Read Post »

Supreme Court Upholds IBC Application: Axis Bank vs. Naren Sheth (2023)

/ Corporate Insolvency Resolution Process, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 7, Limitation Act, 1963, Limitation Act, 1963 with Section 18, Limitation Act, 1963 with Section 5

Supreme Court Upholds IBC Application: Axis Bank vs. Naren Sheth (2023) LEGAL ISSUE: Whether a financial creditor’s application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) is barred by limitation, despite acknowledgments of debt by the corporate debtor within the limitation period. CASE TYPE: Insolvency Law Case Name: Axis Bank Limited vs.

Supreme Court Upholds IBC Application: Axis Bank vs. Naren Sheth (2023) Read Post »

Supreme Court Upholds Rejection of Belated Claim in Insolvency: RPS Infrastructure Ltd. vs. Mukul Kumar (2023)

/ Arbitral Award, Arbitration and Conciliation Act, 1996, Arbitration and Conciliation Act, 1996 with Section 34, Arbitration and Conciliation Act, 1996 with Section 37, Corporate Insolvency Resolution Process, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 31, Insolvency and Bankruptcy Code, 2016 with Section 60(5)

Supreme Court Upholds Rejection of Belated Claim in Insolvency: RPS Infrastructure Ltd. vs. Mukul Kumar (2023) Date of the Judgment: September 11, 2023 Citation: 2023 INSC 816 Judges: Sanjay Kishan Kaul, J. and Sudhanshu Dhulia, J. Can a creditor, who missed the initial deadline, have their claim considered after the resolution plan has been approved

Supreme Court Upholds Rejection of Belated Claim in Insolvency: RPS Infrastructure Ltd. vs. Mukul Kumar (2023) Read Post »

Supreme Court Stays Project-Wise Insolvency, Allows CIRP to Continue with Modifications: Indiabulls vs. Ram Kishore Arora (2023)

/ Corporate Insolvency Resolution Process, Dinesh Maheshwari, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 29A, Insolvency and Bankruptcy Code, 2016 with Section 7, Judges, Sanjay Kumar

Supreme Court Stays Project-Wise Insolvency, Allows CIRP to Continue with Modifications: Indiabulls vs. Ram Kishore Arora (2023) LEGAL ISSUE: Whether the National Company Law Appellate Tribunal (NCLAT) can order a project-wise Corporate Insolvency Resolution Process (CIRP) instead of a company-wide CIRP under the Insolvency and Bankruptcy Code, 2016. CASE TYPE: Insolvency Law Case Name: Indiabulls

Supreme Court Stays Project-Wise Insolvency, Allows CIRP to Continue with Modifications: Indiabulls vs. Ram Kishore Arora (2023) Read Post »

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