Supreme Court Upholds Resolution Plan, Limits High Court Interference in Insolvency Cases (2025) LEGAL ISSUE: Whether the High Court can interfere with Corporate Insolvency Resolution Process (CIRP) under Article 226 of the Constitution. CASE TYPE: Insolvency Law Case Name: Mohammed Enterprises (Tanzania) Ltd. vs. Farooq Ali Khan & Ors. Judgment Date: January 03, 2025 Date […]
Supreme Court Orders Liquidation of Jet Airways, Rejects PBG Adjustment LEGAL ISSUE: Whether a Performance Bank Guarantee (PBG) can be adjusted against the first tranche payment in a resolution plan under the Insolvency and Bankruptcy Code (IBC), 2016. CASE TYPE: Corporate Insolvency Resolution Process (CIRP) Case Name: State Bank of India & Ors. vs. The
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 Set-Off Rights in Corporate Insolvency: Bharti Airtel vs. Vijaykumar Iyer (2024) LEGAL ISSUE: Whether a creditor can claim a set-off against a corporate debtor during the Corporate Insolvency Resolution Process (CIRP). CASE TYPE: Corporate Insolvency Case Name: Bharti Airtel Limited and Another vs. Vijaykumar V. Iyer and Others [Judgment Date]: January 3,
Supreme Court Clarifies Eligibility for Resolution Applicants in MSME Insolvency Cases Date of the Judgment: 29 November 2023 Citation: 2023 INSC 1056 Judges: Justice Sanjay Kishan Kaul and Justice Sudhanshu Dhulia Can a promoter of a company, facing insolvency, submit a resolution plan if the company is classified as a Micro, Small, and Medium Enterprise
Supreme Court Stays Project-Wise Insolvency Resolution: Indiabulls vs. Ram Kishore (2023) LEGAL ISSUE: Whether the National Company Law Appellate Tribunal (NCLAT) can order a project-wise insolvency resolution process under the Insolvency and Bankruptcy Code, 2016 (IBC). CASE TYPE: Insolvency Law Case Name: Indiabulls Asset Reconstruction Company Limited vs. Ram Kishore Arora & Ors. [Judgment Date]:
Supreme Court Allows Withdrawal of CIRP Before CoC Formation: Abhishek Singh vs. Huhtamaki PPL Ltd. (2023) LEGAL ISSUE: Whether a Corporate Insolvency Resolution Process (CIRP) can be withdrawn before the constitution of the Committee of Creditors (CoC) when a settlement has been reached between the Operational Creditor (OC) and the Corporate Debtor (CD). CASE TYPE:
Supreme Court Allows Withdrawal of CIRP Before CoC Formation: Abhishek Singh vs. Huhtamaki PPL Ltd. (2023) Date of the Judgment: 28 March 2023 Citation: 2023 INSC 308 Judges: B.R. Gavai, J., Vikram Nath, J. Can a company undergoing the Corporate Insolvency Resolution Process (CIRP) withdraw the process if it settles with the operational creditor before
Supreme Court Allows Withdrawal of CIRP Application Before CoC Formation LEGAL ISSUE: Whether an application for Corporate Insolvency Resolution Process (CIRP) can be withdrawn before the constitution of the Committee of Creditors (CoC). CASE TYPE: Insolvency Law Case Name: Ashok G. Rajani vs. Beacon Trusteeship Ltd. & Ors. Judgment Date: 22 September 2022 Introduction Date
Supreme Court permits Promoter to complete housing project, setting aside NCLAT order: Anand Murti vs Soni Infratech (2022) LEGAL ISSUE: Whether a promoter can be permitted to complete a housing project under the Insolvency and Bankruptcy Code (IBC) instead of continuing the Corporate Insolvency Resolution Process (CIRP). CASE TYPE: Insolvency Law Case Name: Anand Murti
Supreme Court permits withdrawal of CIRP proceedings in favor of Homebuyers: Amit Katyal vs. Meera Ahuja (2022) LEGAL ISSUE: Whether the Supreme Court can permit the withdrawal of Corporate Insolvency Resolution Process (CIRP) proceedings initiated by homebuyers, considering a settlement between the parties and the larger interest of the homebuyers. CASE TYPE: Insolvency Law Case
Supreme Court Upholds Fair Play in Insolvency Resolution: Ajay Gupta vs. Pramod Kumar Sharma (2022) LEGAL ISSUE: Whether a resolution applicant can amend their resolution plan and whether the Adjudicating Authority can allow other resolution applicants to modify their plans to maintain a level playing field. CASE TYPE: Insolvency and Bankruptcy Law Case Name: Ajay
