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 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 Rules RERA Decree Holders are Financial Creditors under IBC Date of the Judgment: 06 October 2023 Citation: (2023) INSC 913 Judges: S. Ravindra Bhat, J., and Aravind Kumar, J. Can a homebuyer who has obtained a decree from the Real Estate Regulatory Authority (RERA) be treated differently from other homebuyers under the Insolvency
Supreme Court Clarifies Priority of Electricity Dues in Insolvency: Paschimanchal Vidyut Vitran Nigam Ltd. vs. Raman Ispat Pvt. Ltd. (2023) Date of the Judgment: July 17, 2023 Citation: 2023 INSC 625 Judges: S. Ravindra Bhat, J, Dipankar Datta, J. Can electricity dues be treated as secured debts, and if so, what is their priority in
Supreme Court Clarifies Moratorium Under IBC: Indian Overseas Bank vs. RCM Infrastructure Ltd. (2022) LEGAL ISSUE: The core legal issue is whether a sale of assets under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) is complete upon confirmation of sale or upon full payment and issuance
Supreme Court Clarifies NCLT’s Jurisdiction in Contract Termination During CIRP: Tata Consultancy Services vs. SK Wheels (2021) LEGAL ISSUE: Scope of the National Company Law Tribunal’s (NCLT) residuary jurisdiction under Section 60(5)(c) of the Insolvency and Bankruptcy Code (IBC) to adjudicate contractual disputes during the Corporate Insolvency Resolution Process (CIRP). CASE TYPE: Insolvency Law, Contract
Supreme Court Clarifies Limitation for IBC Appeals: Nagarajan vs. SKS Ispat (2021) LEGAL ISSUE: Determining the limitation period for appeals under the Insolvency and Bankruptcy Code, 2016 (IBC). CASE TYPE: Insolvency Law Case Name: V Nagarajan vs. SKS Ispat and Power Ltd. & Ors. [Judgment Date]: 22 October 2021 Introduction Date of the Judgment: 22
Supreme Court Clarifies Binding Nature of Resolution Plans on Government Bodies Date of the Judgment: 13 April 2021 Citation: (2021) INSC 210 Judges: B.R. Gavai, J., R.F. Nariman, J., Hrishikesh Roy, J. Can a resolution plan approved under the Insolvency and Bankruptcy Code, 2016 (I&B Code) bind government bodies, including tax authorities? The Supreme Court
Supreme Court Upholds IBC’s Primacy Over Winding Up: A. Navinchandra Steels vs. SREI Equipment Finance (2021) LEGAL ISSUE: Whether the Insolvency and Bankruptcy Code, 2016 (IBC) overrides the Companies Act, 1956/2013 in cases of conflict, particularly when a winding-up petition has been admitted. CASE TYPE: Insolvency and Corporate Law Case Name: A. Navinchandra Steels Private
Supreme Court clarifies transfer of winding-up proceedings to NCLT under IBC: Action Ispat vs. Shyam Metalics (2020) LEGAL ISSUE: Transfer of winding-up proceedings to the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code, 2016 (IBC). CASE TYPE: Insolvency Law Case Name: Action Ispat and Power Pvt. Ltd. vs. Shyam Metalics and Energy
Supreme Court Halts High Court Auction Amidst Insolvency Proceedings: Anand Rao Korada vs. M/s. Varsha Fabrics (P) Ltd. (2019) LEGAL ISSUE: Whether the High Court can proceed with auctioning the assets of a company when insolvency proceedings have commenced before the National Company Law Tribunal (NCLT). CASE TYPE: Insolvency Law Case Name: Anand Rao Korada
Supreme Court Upholds Municipal Rights in Insolvency Cases: MCGM vs. Abhilash Lal (2019) LEGAL ISSUE: Whether the Insolvency and Bankruptcy Code, 2016 (IBC) overrides the statutory rights of a municipal corporation to control its properties. CASE TYPE: Insolvency Law Case Name: Municipal Corporation of Greater Mumbai (MCGM) vs. Abhilash Lal & Ors. [Judgment Date]: 15
Supreme Court Upholds Municipal Rights in Insolvency Cases: MCGM vs. Abhilash Lal (2019) Read Post »
