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 the scope of contempt in resolution plan disputes: Committee of Creditors of A MTEK Auto Limited vs. Dinkar T Venkatasubramanian & Ors (2021) LEGAL ISSUE: Whether a party’s conduct in a corporate insolvency resolution process, specifically attempting to withdraw from an approved resolution plan and raising a plea of force majeure, constitutes
Supreme Court Dismisses Plea for Intervention in Real Estate Project: Upendra Choudhury vs. Bulandshahar Development Authority (2021) LEGAL ISSUE: Whether the Supreme Court should intervene in a real estate project under Article 32 of the Constitution. CASE TYPE: Real Estate/Constitutional Law Case Name: Upendra Choudhury vs. Bulandshahar Development Authority & Ors [Judgment Date]: 11 February
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 Clarifies Financial Creditor Status in Pledge Agreements: Phoenix ARC vs. Ketulbhai Patel (2021) LEGAL ISSUE: Whether a party holding a pledge of shares as security qualifies as a financial creditor under the Insolvency and Bankruptcy Code, 2016. CASE TYPE: Insolvency Law Case Name: Phoenix ARC Pvt. Ltd. vs. Ketulbhai Ramubhai Patel [Judgment Date]:
Supreme Court Clarifies “Related Party” Definition under IBC: Phoenix Arc vs. Spade Financial (2021) LEGAL ISSUE: Definition of “related party” under the Insolvency and Bankruptcy Code, 2016 (IBC). CASE TYPE: Insolvency Law Case Name: Phoenix Arc Private Limited vs. Spade Financial Services Limited & Ors. [Judgment Date]: 1 February 2021 Introduction Date of the Judgment:
Supreme Court Dismisses Insolvency Plea Citing Limitation: Reliance Asset Reconstruction vs. Hotel Poonja International (2021) LEGAL ISSUE: Whether an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 is barred by limitation when the default occurred more than three years before the application was filed. CASE TYPE: Insolvency Law Case Name: M/s. Reliance
Supreme Court Upholds Amendments to Insolvency and Bankruptcy Code, 2016 Date of the Judgment: 19 January 2021 Citation: (2021) INSC 19 Judges: Rohinton Fali Nariman, Navin Sinha, and K.M. Joseph, JJ. Can a group of homebuyers be required to meet a threshold before initiating insolvency proceedings against a builder? The Supreme Court of India recently
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
NTPC Ltd. vs. Rajiv Chakraborty: Supreme Court Clarifies Treatment of Claims in Information Memorandum LEGAL ISSUE: Whether a claim pending adjudication can be classified as an ‘Operational Creditor’ claim in the Information Memorandum under the Insolvency and Bankruptcy Code. CASE TYPE: Insolvency Law Case Name: NTPC Ltd. (Simhadri Project) vs. Rajiv Chakraborty Judgment Date: 16
Supreme Court Transfers Petitions on Personal Guarantors Under IBC: Insolvency and Bankruptcy Board of India vs. Lalit Kumar Jain & Ors. (2020) Date of the Judgment: 29 October 2020 Citation: Not Available Judges: L. Nageswara Rao, Hemant Gupta, and Ajay Rastogi, JJ. Can the Supreme Court transfer writ petitions from various High Courts to itself
Supreme Court Upholds NCLT Order in Insolvency Case: SREI Equipment Finance Ltd. vs. Rajeev Anand & Ors. (2020) Date of the Judgment: September 08, 2020 Citation: 2020 INSC 647 Judges: R.F. Nariman, J., Navin Sinha, J., Indira Banerjee, J. Can an admission made by a corporate debtor in a previous, withdrawn proceeding be used as
