Insolvency and Bankruptcy Code, 2016

Supreme Court Sets Aside Resolution Plan Due to Procedural Lapses: Greater Noida Industrial Development Authority vs. Prabhjit Singh Soni (2024)

/ Corporate Insolvency Resolution Process, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 30(2), Insolvency and Bankruptcy Code, 2016 with Section 60(5), U.P. Industrial Area Development Act, 1976, U.P. Industrial Area Development Act, 1976 with Section 13, U.P. Industrial Area Development Act, 1976 with Section 13A

Supreme Court Sets Aside Resolution Plan Due to Procedural Lapses: Greater Noida Industrial Development Authority vs. Prabhjit Singh Soni (2024) LEGAL ISSUE: Whether a resolution plan can be set aside for procedural lapses and non-compliance with statutory requirements under the Insolvency and Bankruptcy Code, 2016. CASE TYPE: Insolvency Law Case Name: Greater Noida Industrial Development […]

Supreme Court Sets Aside Resolution Plan Due to Procedural Lapses: Greater Noida Industrial Development Authority vs. Prabhjit Singh Soni (2024) Read Post »

Supreme Court Clarifies Moratorium Under IBC Does Not Bar Proceedings Against Company Directors in Consumer Cases (17 January 2024)

/ Consumer Disputes Redressal, Consumer Protection Law, Consumer Protection Law with Execution of Order, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 14, Insolvency and Bankruptcy Code, 2016 with Section 32A, Moratorium

Supreme Court Clarifies Moratorium Under IBC Does Not Bar Proceedings Against Company Directors Date of the Judgment: 17 January 2024 Citation: 2024 INSC 54 Judges: Abhay S. Oka, J., Ujjal Bhuyan, J. Can the directors of a company be held liable for a consumer court order when the company is undergoing insolvency proceedings? The Supreme

Supreme Court Clarifies Moratorium Under IBC Does Not Bar Proceedings Against Company Directors in Consumer Cases (17 January 2024) Read Post »

Supreme Court clarifies set-off rights during Corporate Insolvency Resolution Process: Bharti Airtel vs. Vijaykumar Iyer (2024)

/ Code of Civil Procedure, 1908, Code of Civil Procedure, 1908 with Order VIII Rule 6, Corporate Insolvency Resolution Process (CIRP), Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 238, Insolvency and Bankruptcy Code, 2016 with Section 30(2)(b)(ii)

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 set-off rights during Corporate Insolvency Resolution Process: Bharti Airtel vs. Vijaykumar Iyer (2024) Read Post »

Supreme Court Clarifies Limitation for NCLT Appeals: Sanjay Pandurang Kalate vs. Vistra ITCL (India) Limited (2023) INSC 1063 (4 December 2023)

/ Appeals under IBC, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 61, National Company Law Tribunal Rules, 2016, National Company Law Tribunal Rules, 2016 with Rule 150, NCLT Rules of Procedure

Supreme Court Clarifies Limitation for NCLT Appeals: Sanjay Pandurang Kalate vs. Vistra ITCL (India) Limited (2023) INSC 1063 (4 December 2023) LEGAL ISSUE: Determining the commencement date for the limitation period for filing appeals against orders of the National Company Law Tribunal (NCLT) before the National Company Law Appellate Tribunal (NCLAT). CASE TYPE: Insolvency Law

Supreme Court Clarifies Limitation for NCLT Appeals: Sanjay Pandurang Kalate vs. Vistra ITCL (India) Limited (2023) INSC 1063 (4 December 2023) Read Post »

Supreme Court clarifies eligibility for resolution applicants in MSME insolvency cases: Hari Babu Thota vs. Shree Aashraya Infra-Con Limited (29 November 2023)

/ Corporate Insolvency Resolution Process (CIRP), Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 240A, Insolvency and Bankruptcy Code, 2016 with Section 29A

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 clarifies eligibility for resolution applicants in MSME insolvency cases: Hari Babu Thota vs. Shree Aashraya Infra-Con Limited (29 November 2023) Read Post »

Supreme Court overturns NCLT order on revaluation of assets in insolvency case: Ramkrishna Forgings Limited vs. Ravindra Loonkar (2023)

/ Corporate Insolvency Resolution Process, Income Tax Act, 1961, Income Tax Act, 1961 with Section 79, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 30, Insolvency and Bankruptcy Code, 2016 with Section 31

Supreme Court overturns NCLT order on revaluation of assets in insolvency case: Ramkrishna Forgings Limited vs. Ravindra Loonkar (2023) LEGAL ISSUE: Whether the National Company Law Tribunal (NCLT) can order a revaluation of a corporate debtor’s assets after the Committee of Creditors (CoC) has approved a resolution plan. CASE TYPE: Insolvency and Bankruptcy Law Case

Supreme Court overturns NCLT order on revaluation of assets in insolvency case: Ramkrishna Forgings Limited vs. Ravindra Loonkar (2023) Read Post »

Supreme Court Clarifies Status of Compulsorily Convertible Debentures Under IBC: IFCI Limited vs. Sutanu Sinha & Ors. (2023)

/ Corporate Insolvency Resolution Process, Insolvency and Bankruptcy Code, 2016, Insolvency Law, Insolvency Law with Section 3(11)

Supreme Court Clarifies Status of Compulsorily Convertible Debentures Under IBC: IFCI Limited vs. Sutanu Sinha & Ors. (2023) LEGAL ISSUE: Whether Compulsorily Convertible Debentures (CCDs) should be treated as debt or equity under the Insolvency and Bankruptcy Code, 2016 (IBC). CASE TYPE: Insolvency Law Case Name: M/s. IFCI Limited vs. Sutanu Sinha & Ors. [Judgment

Supreme Court Clarifies Status of Compulsorily Convertible Debentures Under IBC: IFCI Limited vs. Sutanu Sinha & Ors. (2023) Read Post »

Supreme Court Upholds State’s Secured Creditor Status under GVAT Act in IBC Proceedings: Sanjay Kumar Agarwal vs. State Tax Officer (2023) INSC 963 (31 October 2023)

/ Code of Civil Procedure, Code of Civil Procedure with Order XLVII Rule 1, Gujarat Value Added Tax Act, 2003, Gujarat Value Added Tax Act, 2003 with Section 48, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 3(30), Insolvency and Bankruptcy Code, 2016 with Section 53, Review Petition, Secured Creditor

Supreme Court Upholds State’s Secured Creditor Status under GVAT Act in IBC Proceedings: Sanjay Kumar Agarwal vs. State Tax Officer (2023) INSC 963 (31 October 2023) Date of the Judgment: 31 October 2023 Citation: (2023) INSC 963 Judges: A.S. Bopanna, J. and Bela M. Trivedi, J. Can a State’s claim under the Gujarat Value Added

Supreme Court Upholds State’s Secured Creditor Status under GVAT Act in IBC Proceedings: Sanjay Kumar Agarwal vs. State Tax Officer (2023) INSC 963 (31 October 2023) Read Post »

Supreme Court clarifies limitation for IBC application based on recovery certificates: Totempudi Salalith vs. State Bank of India (2023)

/ Corporate Insolvency Resolution Process, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 238A, Insolvency and Bankruptcy Code, 2016 with Section 7, Limitation Act, 1963, Limitation Act, 1963 with Article 136, Limitation Act, 1963 with Article 137, Limitation Act, 1963 with Section 18, Recovery of Debts and Bankruptcy Act, 1993, Recovery of Debts and Bankruptcy Act, 1993 with Section 19(22A)

Supreme Court clarifies limitation for IBC application based on recovery certificates: Totempudi Salalith vs. State Bank of India (2023) LEGAL ISSUE: Whether a financial creditor can initiate Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC) based on a recovery certificate issued by the Debt Recovery Tribunal (DRT), and what is

Supreme Court clarifies limitation for IBC application based on recovery certificates: Totempudi Salalith vs. State Bank of India (2023) Read Post »

Supreme Court settles the status of RERA decree holders under IBC: Vishal Chelani & Ors. vs. Debashis Nanda (2023) INSC 913 (06 October 2023)

/ Constitutional Law, Constitutional Law with Article 14, Financial Creditor, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 238, Insolvency and Bankruptcy Code, 2016 with Section 5(8), Real Estate (Regulation and Development) Act, 2016, Real Estate (Regulation and Development) Act, 2016 with Section 18, Real Estate Allottee

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 settles the status of RERA decree holders under IBC: Vishal Chelani & Ors. vs. Debashis Nanda (2023) INSC 913 (06 October 2023) Read Post »

Supreme Court clarifies MSME promoter rights in insolvency, sets aside NCLAT order: R. Raghavendran vs. C. Raja John & Ors. (2023)

/ Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 12A, Insolvency and Bankruptcy Code, 2016 with Section 29A, MSME

Supreme Court Clarifies MSME Promoter Rights in Insolvency: R. Raghavendran vs. C. Raja John & Ors. (2023) Date of the Judgment: 13 September 2023 Citation: 2023 INSC 849 Judges: Sanjay Kishan Kaul, J. and Sudhanshu Dhulia, J. Can a promoter of a Micro, Small & Medium Enterprise (MSME) be exempt from competing with other resolution

Supreme Court clarifies MSME promoter rights in insolvency, sets aside NCLAT order: R. Raghavendran vs. C. Raja John & Ors. (2023) Read Post »

Supreme Court Upholds IBC Application: Axis Bank vs. Naren Sheth (2023)

/ Corporate Insolvency Resolution Process, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 7, Limitation Act, 1963, Limitation Act, 1963 with Section 18, Limitation Act, 1963 with Section 5

Supreme Court Upholds IBC Application: Axis Bank vs. Naren Sheth (2023) LEGAL ISSUE: Whether a financial creditor’s application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) is barred by limitation, despite acknowledgments of debt by the corporate debtor within the limitation period. CASE TYPE: Insolvency Law Case Name: Axis Bank Limited vs.

Supreme Court Upholds IBC Application: Axis Bank vs. Naren Sheth (2023) Read Post »

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