Supreme Court Directs Fresh Review of Insolvency Claim: M/S Wizaman Impex vs. Kedrion Biopharma (2022) LEGAL ISSUE: Whether the National Company Law Appellate Tribunal (NCLAT) was correct in admitting additional documents at the appellate stage without giving the corporate debtor an opportunity to respond, and whether the application under Section 9 of the Insolvency and […]
Supreme Court Clarifies Operational Creditor Definition under IBC: Consolidated Construction Consortium Ltd. vs. Hitro Energy Solutions Pvt. Ltd. (2022) LEGAL ISSUE: Whether a party that receives goods or services can be considered an operational creditor under the Insolvency and Bankruptcy Code, 2016 (IBC). CASE TYPE: Insolvency Law Case Name: M/s Consolidated Construction Consortium Limited vs.
Supreme Court Upholds Pre-Existing Dispute in Insolvency Case: Jai Balaji Industries vs. D.K. Mohanty (2021) LEGAL ISSUE: Whether a pre-existing dispute, for the purposes of Section 8 of the Insolvency and Bankruptcy Code, 2016, includes a situation where an appeal against an arbitral award is dismissed in default but subsequently restored. CASE TYPE: Insolvency Law
Supreme Court Upholds Withdrawal of CIRP, Prioritizing Corporate Revival: K.N. Rajakumar vs. V. Nagarajan (2021) LEGAL ISSUE: Whether the Committee of Creditors (CoC) should be reconstituted based on updated claims before allowing the withdrawal of the Corporate Insolvency Resolution Process (CIRP). CASE TYPE: Insolvency Law Case Name: K.N. Rajakumar vs. V. Nagarajan & Ors. Judgment
Supreme Court Upholds Employee’s Claim: N. Subramanian vs. M/S Aruna Hotels Ltd. (2021) LEGAL ISSUE: Whether a claim for arrears of salary is time-barred under the Insolvency and Bankruptcy Code, 2016 (IBC) when there are acknowledgements of liability. CASE TYPE: Insolvency Law Case Name: N. Subramanian vs. M/S Aruna Hotels Ltd. & Anr. [Judgment Date]:
Supreme Court Upholds Employee’s Claim: N. Subramanian vs. M/S Aruna Hotels Ltd. (2021) Read Post »
Supreme Court clarifies Section 10A of IBC: Ramesh Kymal vs. Siemens Gamesa (2021) LEGAL ISSUE: Whether Section 10A of the Insolvency and Bankruptcy Code, 2016 (IBC) applies to applications filed before the provision came into force, for defaults occurring after March 25, 2020. CASE TYPE: Insolvency Law Case Name: Ramesh Kymal vs. M/s Siemens Gamesa
Supreme Court allows insolvency proceedings under IBC without Tea Act consent: Duncans Industries Ltd. vs. A.J. Agrochem (2019) LEGAL ISSUE: Whether prior consent of the Central Government is required under Section 16G(1)(c) of the Tea Act, 1953, before initiating proceedings under Section 9 of the Insolvency and Bankruptcy Code, 2016. CASE TYPE: Insolvency Law Case
Supreme Court Clarifies Limitation Act Applicability to IBC Proceedings Date of the Judgment: 11 October 2018 Citation: (2018) INSC 908 Judges: R.F. Nariman, J. and Navin Sinha, J. Can a creditor initiate insolvency proceedings for a debt that is time-barred under the Limitation Act? The Supreme Court of India addressed this critical question, clarifying the
Can an application for corporate insolvency be rejected if defects are not rectified within seven days? The Supreme Court of India addressed this question, clarifying the nature of the seven-day time limit for rectifying defects in applications filed by operational creditors under the Insolvency and Bankruptcy Code, 2016. This judgment has significant implications for the
