Supreme Court Allows Benefit of Sabka Vishwas Scheme Despite Moratorium: Shekhar Resorts vs. Union of India (2023) LEGAL ISSUE: Whether a company facing a moratorium under the Insolvency and Bankruptcy Code (IBC) can be denied the benefits of the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019, if it could not make payments within the scheme’s […]
Supreme Court Allows Settlement Under Sabka Vishwas Scheme Despite IBC Moratorium Date of the Judgment: 5 January 2023 Citation: (2023) INSC 15 Judges: M.R. Shah, J. and B.V. Nagarathna, J. Can a company be denied the benefits of the “Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019” if it could not make payments due to a
Supreme Court Clarifies Limitation and Pre-Existing Dispute in Insolvency Cases: Sabarmati Gas vs. Shah Alloys (2023) LEGAL ISSUE: Whether the period of suspension of legal proceedings under the Sick Industrial Companies Act (SICA) can be excluded when calculating the limitation period for applications under Section 9 of the Insolvency and Bankruptcy Code (IBC), and whether
Supreme Court on Pre-Existing Dispute under IBC: Rajratan Babulal Agarwal vs. Solartex India Pvt. Ltd. (2022) LEGAL ISSUE: Whether a ‘pre-existing dispute’ existed to reject an application under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). CASE TYPE: Insolvency and Bankruptcy Law Case Name: Rajratan Babulal Agarwal vs. Solartex India Pvt. Ltd. &
Supreme Court Allows Withdrawal of CIRP Application Before CoC Formation LEGAL ISSUE: Whether an application for Corporate Insolvency Resolution Process (CIRP) can be withdrawn before the constitution of the Committee of Creditors (CoC). CASE TYPE: Insolvency Law Case Name: Ashok G. Rajani vs. Beacon Trusteeship Ltd. & Ors. Judgment Date: 22 September 2022 Introduction Date
Supreme Court clarifies Limitation for IBC Applications: Tech Sharp Engineers vs. Sanghvi Movers (2022) LEGAL ISSUE: The key legal issue is determining the limitation period for filing an application under Section 9 of the Insolvency and Bankruptcy Code (IBC) and whether the pendency of winding-up proceedings before a High Court can extend this limitation. CASE
Supreme Court Clarifies Status of State Tax Dues under IBC: State Tax Officer vs. Rainbow Papers Limited (2022) LEGAL ISSUE: Whether the State Tax Department can claim first charge over the property of a Corporate Debtor under the Gujarat Value Added Tax Act, 2003, despite the provisions of the Insolvency and Bankruptcy Code, 2016. CASE
Supreme Court Clarifies Acknowledgment of Debt in Balance Sheets under IBC: Asset Reconstruction Company vs. Tulip Star Hotels (2022) LEGAL ISSUE: Whether a balance sheet of a company can be considered an acknowledgment of debt for the purpose of extending the limitation period under the Insolvency and Bankruptcy Code (IBC). CASE TYPE: Insolvency Law Case
Supreme Court Clarifies Pre-Existing Dispute Under IBC: M/S S.S. Engineers vs. Hindustan Petroleum Corporation Ltd. (2022) LEGAL ISSUE: Whether a pre-existing dispute between an operational creditor and a corporate debtor bars the initiation of the Corporate Insolvency Resolution Process (CIRP). CASE TYPE: Insolvency and Bankruptcy Law Case Name: M/S S.S. Engineers vs. Hindustan Petroleum Corporation
Supreme Court clarifies discretionary powers of NCLT under Section 7(5)(a) of IBC: Vidarbha Industries vs. Axis Bank (2022) LEGAL ISSUE: Whether the National Company Law Tribunal (NCLT) is obligated to admit an application for Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code (IBC) if a debt and default exist,
Supreme Court Upholds Commercial Wisdom of CoC in IBC Withdrawal: Vallal RCK vs. Siva Industries (2022) LEGAL ISSUE: Whether the Adjudicating Authority (NCLT) or the Appellate Authority (NCLAT) can overrule the commercial wisdom of the Committee of Creditors (CoC) regarding the withdrawal of the Corporate Insolvency Resolution Process (CIRP). CASE TYPE: Insolvency and Bankruptcy Law
Supreme Court Clarifies Moratorium Under IBC: Indian Overseas Bank vs. RCM Infrastructure Ltd. (2022) LEGAL ISSUE: The core legal issue is whether a sale of assets under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) is complete upon confirmation of sale or upon full payment and issuance
