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 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 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 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 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 »
Supreme Court Upholds Rejection of Belated Claim in Insolvency: RPS Infrastructure Ltd. vs. Mukul Kumar (2023) Date of the Judgment: September 11, 2023 Citation: 2023 INSC 816 Judges: Sanjay Kishan Kaul, J. and Sudhanshu Dhulia, J. Can a creditor, who missed the initial deadline, have their claim considered after the resolution plan has been approved
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 Stays Project-Wise Insolvency, Allows CIRP to Continue with Modifications: Indiabulls vs. Ram Kishore Arora (2023) LEGAL ISSUE: Whether the National Company Law Appellate Tribunal (NCLAT) can order a project-wise Corporate Insolvency Resolution Process (CIRP) instead of a company-wide CIRP under the Insolvency and Bankruptcy Code, 2016. CASE TYPE: Insolvency Law Case Name: Indiabulls
Supreme Court Upholds Admission of Insolvency Application: M. Suresh Kumar Reddy vs. Canara Bank (2023) LEGAL ISSUE: Whether the National Company Law Tribunal (NCLT) has discretion to reject an application for the initiation of Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IB Code) once a financial debt
Supreme Court Upholds Admission of Insolvency Application: M. Suresh Kumar Reddy vs. Canara Bank (2023) Date of the Judgment: May 11, 2023 Citation: 2023 INSC 521 Judges: Abhay S. Oka, J., Rajesh Bindal, J. Can a corporate debtor avoid insolvency proceedings by claiming the creditor should have extended bank guarantees? The Supreme Court of India
Supreme Court Stays Project-Wise Insolvency Resolution: Indiabulls vs. Ram Kishore (2023) LEGAL ISSUE: Whether the National Company Law Appellate Tribunal (NCLAT) can order a project-wise insolvency resolution process under the Insolvency and Bankruptcy Code, 2016 (IBC). CASE TYPE: Insolvency Law Case Name: Indiabulls Asset Reconstruction Company Limited vs. Ram Kishore Arora & Ors. [Judgment Date]:
Supreme Court Clarifies Rights of Secured Creditors in Insolvency: Vistra ITCL vs. Dinkar Venkatasubramanian (2023) LEGAL ISSUE: What are the rights of a secured creditor holding pledged shares in the context of the Insolvency and Bankruptcy Code, 2016 (IBC)? CASE TYPE: Insolvency Law Case Name: M/S VISTRA ITCL (INDIA) LTD & ORS. vs. MR. DINKAR
