Supreme Court Clarifies Eligibility Under Section 29A(h) of IBC: Bank of Baroda vs. MBL Infrastructures (2022) Date of the Judgment: January 18, 2022 The Supreme Court of India, in a recent judgment, addressed a critical question regarding the eligibility of resolution applicants under the Insolvency and Bankruptcy Code, 2016 (IBC). Specifically, the court examined whether […]
Supreme Court Clarifies Ineligibility under Section 29A(h) of IBC for Guarantors: Bank of Baroda vs. MBL Infrastructures Ltd. (2022) LEGAL ISSUE: Interpretation of Section 29A(h) of the Insolvency and Bankruptcy Code, 2016 regarding the eligibility of a personal guarantor to submit a resolution plan. CASE TYPE: Insolvency Law Case Name: Bank of Baroda & Anr.
Supreme Court clarifies the process for payment of Resolution Professional Fees in cases where CIRP is set aside: Devarajan Raman vs. Bank of India Limited (2022) INSC 1 Date of the Judgment: January 5, 2022 Citation: (2022) INSC 1 Judges: Dr. Dhananjaya Y Chandrachud, J and A.S. Bopanna, J. Can a Resolution Professional (RP) be
Supreme Court clarifies the process for payment of Resolution Professional fees in Corporate Insolvency Cases: Devarajan Raman vs. Bank of India Limited (2022) INSC 142 (05 January 2022) LEGAL ISSUE: The core legal issue revolves around the proper procedure for determining and disbursing the fees and costs of a Resolution Professional (RP) in a Corporate
Supreme Court Clarifies Resolution Professional Fee Determination in Insolvency Cases Date of the Judgment: 05 January 2022 Citation: Civil Appeal No 3160 of 2020 Judges: Dr Dhananjaya Y Chandrachud, J and A S Bopanna, J. Can an adjudicating authority arbitrarily reduce the fees of a Resolution Professional (RP) without proper justification? The Supreme Court of
Supreme Court Upholds Commercial Wisdom of CoC in Insolvency Case: Ngaitlang Dhar vs. Panna Pragati Infrastructure (2021) LEGAL ISSUE: Whether the National Company Law Appellate Tribunal (NCLAT) was right in interfering with the decision of the Committee of Creditors (CoC) regarding the approval of a resolution plan. CASE TYPE: Insolvency Law Case Name: Ngaitlang Dhar
Supreme Court Clarifies Adjudicating Authority’s Role in Insolvency Petitions: E S Krishnamurthy vs. Bharath Hi Tech Builders (2021) LEGAL ISSUE: The core legal issue is whether the Adjudicating Authority under the Insolvency and Bankruptcy Code, 2016 (IBC) can dismiss a Section 7 petition for initiating the Corporate Insolvency Resolution Process (CIRP) solely because the corporate
Supreme Court Orders Implementation of Resolution Plan in Amtek Auto Insolvency Case LEGAL ISSUE: The core legal issue revolves around the implementation of a resolution plan under the Insolvency and Bankruptcy Code, 2016 (IBC), specifically when a successful resolution applicant fails to adhere to the approved plan. CASE TYPE: Insolvency Law Case Name: Committee of
Supreme Court Allows Delayed Claim in Insolvency Case: GPR Power Solutions vs. Supriyo Chaudhuri (2021) LEGAL ISSUE: Whether the delay in filing a claim by a creditor in the Corporate Insolvency Resolution Process (CIRP) can be condoned, considering the Supreme Court’s orders on extending limitation periods during the COVID-19 pandemic. CASE TYPE: Insolvency Law Case
Supreme Court Clarifies NCLT’s Jurisdiction in Contract Termination During CIRP: Tata Consultancy Services vs. SK Wheels (2021) LEGAL ISSUE: Scope of the National Company Law Tribunal’s (NCLT) residuary jurisdiction under Section 60(5)(c) of the Insolvency and Bankruptcy Code (IBC) to adjudicate contractual disputes during the Corporate Insolvency Resolution Process (CIRP). CASE TYPE: Insolvency Law, Contract
Supreme Court Clarifies Limitation for IBC Appeals: Nagarajan vs. SKS Ispat (2021) LEGAL ISSUE: Determining the limitation period for appeals under the Insolvency and Bankruptcy Code, 2016 (IBC). CASE TYPE: Insolvency Law Case Name: V Nagarajan vs. SKS Ispat and Power Ltd. & Ors. [Judgment Date]: 22 October 2021 Introduction Date of the Judgment: 22
Supreme Court Upholds Pre-Existing Dispute in Insolvency Case: Jai Balaji Industries vs. D.K. Mohanty (2021) LEGAL ISSUE: Whether a pre-existing dispute, for the purposes of Section 8 of the Insolvency and Bankruptcy Code, 2016, includes a situation where an appeal against an arbitral award is dismissed in default but subsequently restored. CASE TYPE: Insolvency Law
