NOIDA Not a Financial Creditor Under IBC: Supreme Court Judgment Analysis LEGAL ISSUE: Whether a development authority, specifically NOIDA, qualifies as a financial creditor under the Insolvency and Bankruptcy Code (IBC) based on lease dues. CASE TYPE: Insolvency and Bankruptcy Law Case Name: New Okhla Industrial Development Authority vs. Anand Sonbhadra & Ors. Judgment Date: […]
Supreme Court Dismisses Review Petition in Insolvency Case: Vishal Vijay Kalantri vs. Shailen Shah (2022) INSC 429 Date of the Judgment: May 04, 2022 Citation: (2022) INSC 429 Judges: Uday Umesh Lalit, J. and Ajay Rastogi, J. Can a review petition be entertained if it does not present any new grounds for reconsideration? The Supreme
Supreme Court Clarifies Moratorium Impact on Corporate Debtor’s Arbitration Claims: New Delhi Municipal Council vs. Minosha India Limited (2022) INSC 423 LEGAL ISSUE: Whether a moratorium under the Insolvency and Bankruptcy Code (IBC) extends the limitation period for a corporate debtor to initiate arbitration proceedings. CASE TYPE: Arbitration, Insolvency Case Name: New Delhi Municipal Council
Supreme Court permits Promoter to complete housing project, setting aside NCLAT order: Anand Murti vs Soni Infratech (2022) LEGAL ISSUE: Whether a promoter can be permitted to complete a housing project under the Insolvency and Bankruptcy Code (IBC) instead of continuing the Corporate Insolvency Resolution Process (CIRP). CASE TYPE: Insolvency Law Case Name: Anand Murti
Supreme Court Clarifies CIRP Costs and Workmen’s Dues in Insolvency: Sunil Kumar Jain vs. Sundaresh Bhatt (2022) LEGAL ISSUE: Determination of what constitutes “Insolvency Resolution Process Costs” (CIRP costs) and the priority of workmen’s dues during the Corporate Insolvency Resolution Process (CIRP). CASE TYPE: Insolvency Law Case Name: Sunil Kumar Jain and others vs. Sundaresh
Supreme Court clarifies the applicability of Section 18 of the Limitation Act to IBC proceedings: State Bank of India vs. Krishidhan Seeds Private Limited (2022) INSC 189 Date of the Judgment: April 18, 2022 Citation: (2022) INSC 189 Judges: Dr Dhananjaya Y Chandrachud, J. and Surya Kant, J. Can a one-time settlement (OTS) offer or
Supreme Court on Limitation under IBC: SVG Fashions vs. Ritu Goyal (2022) Date of the Judgment: 29 March 2022 Citation: (2022) INSC 234 Judges: Hemant Gupta, J., V. Ramasubramanian, J. (authored the judgment) Can a letter acknowledging a debt, along with dishonored cheques, revive a time-barred claim under the Insolvency and Bankruptcy Code (IBC)? The
Supreme Court Restores Appeal, Emphasizes Fair Hearing in Insolvency Case: Jord Engineers vs. Valia and Co. (2022) LEGAL ISSUE: Whether an order passed by the National Company Law Appellate Tribunal (NCLAT) without affording a reasonable opportunity of hearing to a party can be sustained. CASE TYPE: Insolvency Law Case Name: Jord Engineers India Ltd. vs.
Supreme Court Clarifies Moratorium’s Impact on Section 138 NI Act Cases: Narinder Garg vs. Kotak Mahindra Bank (2022) Date of the Judgment: 28 March 2022 Citation: [Not Available in Source] Judges: Uday Umesh Lalit, S. Ravindra Bhat, Pamidighantam Sri Narasimha, JJ. Can a corporate debtor facing insolvency proceedings be prosecuted under Section 138 of the
Supreme Court permits withdrawal of CIRP proceedings in favor of Homebuyers: Amit Katyal vs. Meera Ahuja (2022) LEGAL ISSUE: Whether the Supreme Court can permit the withdrawal of Corporate Insolvency Resolution Process (CIRP) proceedings initiated by homebuyers, considering a settlement between the parties and the larger interest of the homebuyers. CASE TYPE: Insolvency Law Case
Supreme Court Upholds Fair Play in Insolvency Resolution: Ajay Gupta vs. Pramod Kumar Sharma (2022) LEGAL ISSUE: Whether a resolution applicant can amend their resolution plan and whether the Adjudicating Authority can allow other resolution applicants to modify their plans to maintain a level playing field. CASE TYPE: Insolvency and Bankruptcy Law Case Name: Ajay
Supreme Court Upholds Fair Opportunity in Insolvency Resolution: Ajay Gupta vs. Pramod Kumar Sharma (2022) LEGAL ISSUE: Whether the Adjudicating Authority was correct in allowing both resolution applicants to modify their plans to ensure a level playing field. CASE TYPE: Insolvency and Bankruptcy Law Case Name: Ajay Gupta vs. Pramod Kumar Sharma Judgment Date: 25
