Insolvency and Bankruptcy Code, 2016

Supreme Court Upholds Admission of Insolvency Application Based on Acknowledgment of Debt: Rajendra Narottamdas Sheth vs. Chandra Prakash Jain (2021)

/ B. R. Gavai, B. V. Nagarathna, Corporate Insolvency Resolution Process, Financial Creditor, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 7, Judges, L. Nageswara Rao, Limitation Act, 1963, Limitation Act, 1963 with Section 18, Limitation Act, 1963 with Section 19

Supreme Court Upholds Admission of Insolvency Application Based on Acknowledgment of Debt: Rajendra Narottamdas Sheth vs. Chandra Prakash Jain (2021) LEGAL ISSUE: Whether an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 is maintainable when filed by a power of attorney holder and whether such application is barred by limitation. CASE TYPE: […]

Supreme Court Upholds Admission of Insolvency Application Based on Acknowledgment of Debt: Rajendra Narottamdas Sheth vs. Chandra Prakash Jain (2021) Read Post »

Supreme Court Dismisses Appeal on Resolution Plan Approval: Panch Tatva Promoters vs. GPT Steel Industries (2021)

/ Adjudicating Authority, Civil Appeal, Committee of Creditors, Dinesh Maheshwari, Insolvency and Bankruptcy Code, 2016, Judges, Resolution Plan, Supreme Court of India, Vikram Nath

Supreme Court Dismisses Appeal on Resolution Plan Approval: Panch Tatva Promoters vs. GPT Steel Industries (2021) Date of the Judgment: September 17, 2021 Citation: Not Available Judges: Justice Dinesh Maheshwari and Justice Vikram Nath Can a higher court interfere with a resolution plan approved by the Committee of Creditors before it goes to the Adjudicating

Supreme Court Dismisses Appeal on Resolution Plan Approval: Panch Tatva Promoters vs. GPT Steel Industries (2021) Read Post »

Supreme Court Upholds Withdrawal of CIRP, Prioritizing Corporate Revival: K.N. Rajakumar vs. V. Nagarajan (2021)

/ B.R. Gavai, B.V. Nagarathna, Companies Act, 2013, Companies Act, 2013 with Section 271(1)(a), Corporate Insolvency Resolution Process, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 12A, Insolvency and Bankruptcy Code, 2016 with Section 9, Judges, L. Nageswara Rao

Supreme Court Upholds Withdrawal of CIRP, Prioritizing Corporate Revival: K.N. Rajakumar vs. V. Nagarajan (2021) LEGAL ISSUE: Whether the Committee of Creditors (CoC) should be reconstituted based on updated claims before allowing the withdrawal of the Corporate Insolvency Resolution Process (CIRP). CASE TYPE: Insolvency Law Case Name: K.N. Rajakumar vs. V. Nagarajan & Ors. Judgment

Supreme Court Upholds Withdrawal of CIRP, Prioritizing Corporate Revival: K.N. Rajakumar vs. V. Nagarajan (2021) Read Post »

Supreme Court Upholds Limitation for Appeals Under IBC: National Spot Exchange Ltd. vs. Dunar Foods Ltd. (2021)

/ Aniruddha Bose, Appellate Tribunal, Constitutional Law, Constitutional Law with Article 142, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 61, Judges, M.R. Shah

Supreme Court Upholds Limitation for Appeals Under IBC: National Spot Exchange Ltd. vs. Dunar Foods Ltd. (2021) LEGAL ISSUE: Whether the National Company Law Appellate Tribunal (NCLAT) can condone delays exceeding 15 days in filing appeals under the Insolvency and Bankruptcy Code (IBC). CASE TYPE: Insolvency Law Case Name: National Spot Exchange Limited vs. Mr.

Supreme Court Upholds Limitation for Appeals Under IBC: National Spot Exchange Ltd. vs. Dunar Foods Ltd. (2021) Read Post »

Supreme Court clarifies withdrawal of resolution plan under IBC: Ebix vs. Committee of Creditors (2021)

/ Constitutional Law, Constitutional Law with Article 142, Corporate Insolvency Resolution Process (CIRP), Dhananjaya Y Chandrachud, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 30, Insolvency and Bankruptcy Code, 2016 with Section 31, Judges, M. R. Shah

Date of the Judgment: 13 September 2021 Citation: (2021) INSC 609 Judges: Dr Dhananjaya Y Chandrachud, J and M. R. Shah, J Can a successful resolution applicant withdraw their resolution plan after it has been approved by the Committee of Creditors (CoC) but before final approval by the National Company Law Tribunal (NCLT)? The Supreme

Supreme Court clarifies withdrawal of resolution plan under IBC: Ebix vs. Committee of Creditors (2021) Read Post »

Supreme Court Clarifies Moratorium Under IBC: Anjali Rathi & Ors. vs. Today Homes & Infrastructure Pvt. Ltd. (2021)

/ Consumer Protection Act, 1986, Consumer Protection Act, 1986 with Sections 25 and 27, Corporate Insolvency Resolution Process, Dhananjaya Y Chandrachud, Hima Kohli, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 14, Judges, Vikram Nath

Supreme Court Clarifies Moratorium Under IBC: Anjali Rathi & Ors. vs. Today Homes & Infrastructure Pvt. Ltd. (2021) LEGAL ISSUE: Whether the moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016 (IBC) extends to the personal properties of the promoters of a corporate debtor. CASE TYPE: Insolvency Law, Consumer Law Case Name: Anjali

Supreme Court Clarifies Moratorium Under IBC: Anjali Rathi & Ors. vs. Today Homes & Infrastructure Pvt. Ltd. (2021) Read Post »

Supreme Court Clarifies Limitation for IBC Applications: Dena Bank vs. C. Shivakumar Reddy (2021)

/ Corporate Insolvency Resolution Process, Indira Banerjee, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 238A, Insolvency and Bankruptcy Code, 2016 with Section 7, Judges, Limitation Act, 1963, Limitation Act, 1963 with Article 137, Limitation Act, 1963 with Section 18, V. Ramasubramanian

Supreme Court Clarifies Limitation for IBC Applications: Dena Bank vs. C. Shivakumar Reddy (2021) LEGAL ISSUE: Applicability of limitation period under the Insolvency and Bankruptcy Code, 2016 (IBC) and the effect of acknowledgment of debt. CASE TYPE: Insolvency Law Case Name: Dena Bank (now Bank of Baroda) vs. C. Shivakumar Reddy and Anr. Judgment Date:

Supreme Court Clarifies Limitation for IBC Applications: Dena Bank vs. C. Shivakumar Reddy (2021) Read Post »

Supreme Court clarifies definition of Financial Debt under IBC for Interest-Free Loans: Orator Marketing vs. Samtex Desinz (2021)

/ Corporate Insolvency Resolution Process, Financial Debt, Indira Banerjee, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 5(8), Judges, V. Ramasubramanian

Supreme Court Clarifies Definition of Financial Debt Under IBC for Interest-Free Loans: Orator Marketing vs. Samtex Desinz (2021) LEGAL ISSUE: Whether an interest-free term loan for working capital qualifies as a “financial debt” under the Insolvency and Bankruptcy Code (IBC). CASE TYPE: Insolvency Law Case Name: M/s Orator Marketing Pvt. Ltd. vs. M/s Samtex Desinz

Supreme Court clarifies definition of Financial Debt under IBC for Interest-Free Loans: Orator Marketing vs. Samtex Desinz (2021) Read Post »

Supreme Court Upholds Notification on Personal Guarantors under IBC: Lalit Kumar Jain vs. Union of India (2021)

/ Indian Contract Act, 1872, Indian Contract Act, 1872 with Section 128, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 1(3), Insolvency and Bankruptcy Code, 2016 with Section 31, Insolvency Resolution, Judges, L. Nageswara Rao, S. Ravindra Bhat

Supreme Court Upholds Notification on Personal Guarantors under IBC LEGAL ISSUE: Validity of a notification extending the Insolvency and Bankruptcy Code, 2016 to personal guarantors of corporate debtors. CASE TYPE: Insolvency Law Case Name: Lalit Kumar Jain vs. Union of India & Ors. [Judgment Date]: 21 May 2021 Introduction Date of the Judgment: May 21,

Supreme Court Upholds Notification on Personal Guarantors under IBC: Lalit Kumar Jain vs. Union of India (2021) Read Post »

Supreme Court Restricts Operation of Bank Accounts During Moratorium Under IBC: Sandeep Khaitan vs. JSVM Plywood (2021)

/ Corporate Insolvency Resolution Process (CIRP), Criminal Procedure Code, Criminal Procedure Code with Section 482, Insolvency Law, Insolvency Law with Section 14, Judges, K.M. Joseph, Moratorium, Uday Umesh Lalit

Supreme Court Restricts Operation of Bank Accounts During Moratorium Under IBC: Sandeep Khaitan vs. JSVM Plywood (2021) LEGAL ISSUE: Whether a High Court can allow the operation of bank accounts, which are frozen due to an FIR, during the moratorium period under the Insolvency and Bankruptcy Code, 2016 (IBC). CASE TYPE: Insolvency Law Case Name:

Supreme Court Restricts Operation of Bank Accounts During Moratorium Under IBC: Sandeep Khaitan vs. JSVM Plywood (2021) Read Post »

Supreme Court clarifies the role of balance sheets in acknowledging debt under the Insolvency and Bankruptcy Code (IBC): Asset Reconstruction Company vs. Bishal Jaiswal (2021)

/ B.R. Gavai, Companies Act, 2013, Companies Act, 2013 with Section 129, Corporate Insolvency Resolution Process, Financial Statements, Hrishikesh Roy, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 238A, Insolvency and Bankruptcy Code, 2016 with Section 7, Judges, Limitation Act, 1963, Limitation Act, 1963 with Section 18, R.F. Nariman

Supreme Court Clarifies the Role of Balance Sheets in Acknowledging Debt under IBC Date of the Judgment: April 15, 2021 Citation: (2021) INSC 218 Judges: R.F. Nariman, J., B.R. Gavai, J., Hrishikesh Roy, J. Can a company’s balance sheet serve as valid proof of debt acknowledgment, thereby extending the limitation period for initiating insolvency proceedings?

Supreme Court clarifies the role of balance sheets in acknowledging debt under the Insolvency and Bankruptcy Code (IBC): Asset Reconstruction Company vs. Bishal Jaiswal (2021) Read Post »

Supreme Court settles the binding nature of Resolution Plans on Government bodies in Insolvency Cases (13 April 2021)

/ B.R. Gavai, Constitutional Law, Constitutional Law with Article 32, Hrishikesh Roy, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 238, Insolvency and Bankruptcy Code, 2016 with Section 31, Judges, R.F. Nariman, Resolution Plan

Supreme Court Clarifies Binding Nature of Resolution Plans on Government Bodies Date of the Judgment: 13 April 2021 Citation: (2021) INSC 210 Judges: B.R. Gavai, J., R.F. Nariman, J., Hrishikesh Roy, J. Can a resolution plan approved under the Insolvency and Bankruptcy Code, 2016 (I&B Code) bind government bodies, including tax authorities? The Supreme Court

Supreme Court settles the binding nature of Resolution Plans on Government bodies in Insolvency Cases (13 April 2021) Read Post »

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