Supreme Court Strikes Down Section 87 of the Arbitration Act: Hindustan Construction Company vs. Union of India (2019) LEGAL ISSUE: Whether Section 87 of the Arbitration and Conciliation Act, 1996, and the repeal of Section 26 of the 2015 Amendment Act are constitutionally valid. CASE TYPE: Constitutional Law, Arbitration Law Case Name: Hindustan Construction Company […]
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 Committee of Creditors’ Commercial Wisdom in Essar Steel Insolvency Resolution Date of the Judgment: 15 November 2019 Citation: (2019) INSC 1067 Judges: R.F. Nariman, J., Surya Kant, J., V. Ramasubramanian, J. Can a resolution plan approved by a Committee of Creditors be overturned by the National Company Law Appellate Tribunal (NCLAT)? The
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 »
Supreme Court Upholds Resolution Plan, Rejects NCLAT Modification in Corporate Insolvency Case LEGAL ISSUE: Whether the National Company Law Appellate Tribunal (NCLAT) was justified in modifying a resolution plan approved by the National Company Law Tribunal (NCLT) on grounds of discrimination among financial creditors. CASE TYPE: Corporate Insolvency Resolution Process (CIRP) Case Name: Rahul Jain
Supreme Court extends CIRP timeline for Jaypee Infratech: Jaiprakash Associates Ltd vs. IDBI Bank Ltd (2019) LEGAL ISSUE: Whether the National Company Law Appellate Tribunal (NCLAT) has the authority to exclude certain periods from the Corporate Insolvency Resolution Process (CIRP) timeline and restart the CIRP with revised resolution plans. CASE TYPE: Corporate Insolvency Case Name:
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 for IBC Applications: Sagar Sharma vs. Phoenix ARC Pvt. Ltd. (2019) LEGAL ISSUE: Applicability of Limitation Act to applications under Section 7 of the Insolvency and Bankruptcy Code, 2016. CASE TYPE: Insolvency Law Case Name: Sagar Sharma & Anr. vs. Phoenix ARC Pvt. Ltd. & Anr. [Judgment Date]: September 30, 2019
Supreme Court Sets Aside Winding Up Order Due to Limitation: Jignesh Shah vs. Union of India (2019) LEGAL ISSUE: Whether a winding-up petition filed under the Companies Act, 1956, which is time-barred, can be revived as a Section 7 application under the Insolvency and Bankruptcy Code, 2016. CASE TYPE: Insolvency Law Case Name: Jignesh Shah
Supreme Court Clarifies Powers Under Section 14 of SARFAESI Act: CJM Competent in Non-Metropolitan Areas LEGAL ISSUE: Whether the Chief Judicial Magistrate (CJM) is competent to process requests from secured creditors to take possession of secured assets under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
Supreme Court Clarifies Limitation for IBC Applications: Gaurav Dave vs. Asset Reconstruction Company (2019) LEGAL ISSUE: Applicability of the Limitation Act to applications under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). CASE TYPE: Insolvency Law Case Name: Gaurav Hargovindbhai Dave vs. Asset Reconstruction Company (India) Ltd. [Judgment Date]: 18 September 2019 Date
Supreme Court on Limitation for IBC Applications: Vashdeo R Bhojwani vs. Abhyudaya Co-operative Bank Ltd (2019) LEGAL ISSUE: Applicability of the Limitation Act to applications under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). CASE TYPE: Insolvency Law Case Name: Vashdeo R Bhojwani vs. Abhyudaya Co-operative Bank Ltd & Anr. Judgment Date: 02
