Insolvency and Bankruptcy Code, 2016

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 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 »

Supreme Court Clarifies Powers of Adjudicating Authority in Jaypee Infratech Resolution Plan (24 March 2021)

/ A.M. Khanwilkar, Constitutional Law, Constitutional Law with Article 142, Corporate Insolvency Resolution Process, Dinesh Maheshwari, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 30, Insolvency and Bankruptcy Code, 2016 with Section 31, Judges, Sanjiv Khanna

Supreme Court Clarifies Powers of Adjudicating Authority in Jaypee Infratech Resolution Plan (24 March 2021) LEGAL ISSUE: Scope of powers and jurisdiction of the Adjudicating Authority while dealing with the resolution plan approved by the Committee of Creditors. CASE TYPE: Corporate Insolvency Resolution Process (CIRP) Case Name: Jaypee Kensington Boulevard Apartments Welfare Association & Ors.

Supreme Court Clarifies Powers of Adjudicating Authority in Jaypee Infratech Resolution Plan (24 March 2021) Read Post »

Supreme Court clarifies the applicability of Limitation Act to IBC: Sesh Nath Singh vs. Baidyabati Sheoraphuli Co-operative Bank Ltd. (22 March 2021)

/ Corporate Insolvency Resolution Process, Hemant Gupta, 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 14, SARFAESI Act, 2002, SARFAESI Act, 2002 with Section 13(2), SARFAESI Act, 2002 with Section 13(4)

Supreme Court Clarifies Limitation for IBC Applications: Sesh Nath Singh vs. Baidyabati Sheoraphuli Co-operative Bank Ltd. (2021) LEGAL ISSUE: Whether Section 14 of the Limitation Act, 1963 applies to applications under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, and whether delays in filing such applications can be condoned. CASE TYPE: Insolvency Law

Supreme Court clarifies the applicability of Limitation Act to IBC: Sesh Nath Singh vs. Baidyabati Sheoraphuli Co-operative Bank Ltd. (22 March 2021) Read Post »

Supreme Court Clarifies Ineligibility Under Section 29A of IBC Extends to Section 230 of Companies Act in Liquidation: Arun Kumar Jagatramka vs. Jindal Steel and Power Ltd. (2021) INSC 158

/ Companies Act, 2013, Companies Act, 2013 with Section 230, Constitutional Law, Constitutional Law with Article 14, Constitutional Law with Article 19, Dhananjaya Y Chandrachud, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 29A, Insolvency and Bankruptcy Code, 2016 with Section 35(1)(f), Judges, M R Shah, Resolution Process

Supreme Court Clarifies Ineligibility Under Section 29A of IBC Extends to Section 230 of Companies Act in Liquidation: Arun Kumar Jagatramka vs. Jindal Steel and Power Ltd. (2021) INSC 158 Date of the Judgment: 15 March 2021 Citation: (2021) INSC 158 Judges: Dr. Dhananjaya Y Chandrachud, J and M R Shah, J Can promoters who

Supreme Court Clarifies Ineligibility Under Section 29A of IBC Extends to Section 230 of Companies Act in Liquidation: Arun Kumar Jagatramka vs. Jindal Steel and Power Ltd. (2021) INSC 158 Read Post »

Supreme Court clarifies jurisdiction of NCLT in determining fees of registered valuers post CIRP set aside: Alok Kaushik vs. Mrs Bhuvaneshwari Ramanathan and Others (2021) INSC 143 (15 March 2021)

/ Dhananjaya Y Chandrachud, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 5(13), Insolvency and Bankruptcy Code, 2016 with Section 60(5)(c), Insolvency Resolution Process Costs, Judges, M.R. Shah

Supreme Court Clarifies Jurisdiction of NCLT in Determining Fees of Registered Valuers Post CIRP Set Aside Date of the Judgment: 15 March 2021 Citation: (2021) INSC 143 Judges: Dr. Dhananjaya Y Chandrachud, J and M.R. Shah, J. Can a registered valuer, appointed during a Corporate Insolvency Resolution Process (CIRP), claim their fees if the CIRP

Supreme Court clarifies jurisdiction of NCLT in determining fees of registered valuers post CIRP set aside: Alok Kaushik vs. Mrs Bhuvaneshwari Ramanathan and Others (2021) INSC 143 (15 March 2021) Read Post »

Supreme Court Upholds NCLT Jurisdiction in Contractual Disputes Arising from Insolvency: Gujarat Urja Vikas Nigam Limited vs. Amit Gupta & Ors. (2021) INSC 123

/ Alteration of Contracts, Corporate Insolvency Resolution Process, Dhananjaya Y Chandrachud, Electricity Act, 2003, Electricity Act, 2003 with Section 86, Formation of Contracts, Indian Contract Act, 1872, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 14, Insolvency and Bankruptcy Code, 2016 with Section 60(5), Judges, M. R. Shah, Novation of Contracts, Tariff Regulation

Supreme Court Upholds NCLT Jurisdiction in Contractual Disputes Arising from Insolvency: Gujarat Urja Vikas Nigam Limited vs. Amit Gupta & Ors. (2021) INSC 123 LEGAL ISSUE: Whether the National Company Law Tribunal (NCLT) has jurisdiction over contractual disputes arising from insolvency proceedings and the validity of ipso facto clauses in Power Purchase Agreements (PPAs). CASE

Supreme Court Upholds NCLT Jurisdiction in Contractual Disputes Arising from Insolvency: Gujarat Urja Vikas Nigam Limited vs. Amit Gupta & Ors. (2021) INSC 123 Read Post »

Supreme Court Upholds Employee’s Claim: N. Subramanian vs. M/S Aruna Hotels Ltd. (2021)

/ Acknowledgment of Debt, B.R. Gavai, Corporate Insolvency Resolution Process, Hrishikesh Roy, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 9, Judges, Limitation Act, 1963, Limitation Period, Operational Creditor, Rohinton Fali Nariman

Supreme Court Upholds Employee’s Claim: N. Subramanian vs. M/S Aruna Hotels Ltd. (2021) LEGAL ISSUE: Whether a claim for arrears of salary is time-barred under the Insolvency and Bankruptcy Code, 2016 (IBC) when there are acknowledgements of liability. CASE TYPE: Insolvency Law Case Name: N. Subramanian vs. M/S Aruna Hotels Ltd. & Anr. [Judgment Date]:

Supreme Court Upholds Employee’s Claim: N. Subramanian vs. M/S Aruna Hotels Ltd. (2021) Read Post »

Supreme Court Clarifies Moratorium Under IBC Does Not Bar Section 138 NI Act Proceedings Against Corporate Debtors (2021)

/ Corporate Insolvency Resolution Process, Dishonour of Cheques, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 14, Judges, K.M. Joseph, Navin Sinha, Negotiable Instruments Act, 1881, Negotiable Instruments Act, 1881 with Section 138, R.F. Nariman

Supreme Court Clarifies Moratorium Under IBC Does Not Bar Section 138 NI Act Proceedings Against Corporate Debtors (2021) LEGAL ISSUE: Whether the moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016 (IBC) applies to proceedings under Section 138 of the Negotiable Instruments Act, 1881. CASE TYPE: Insolvency and Criminal Law Case Name: P.

Supreme Court Clarifies Moratorium Under IBC Does Not Bar Section 138 NI Act Proceedings Against Corporate Debtors (2021) Read Post »

Supreme Court Upholds Liquidation Order After Failed Resolution Plan Implementation in Insolvency Case (01 March 2021)

/ Corporate Insolvency Resolution Process (CIRP), Dhananjaya Y Chandrachud, Insolvency and Bankruptcy Code, 2016, Insolvency and Bankruptcy Code, 2016 with Section 33, Judges, Liquidation, M.R. Shah

Supreme Court Upholds Liquidation Order After Failed Resolution Plan Implementation LEGAL ISSUE: Whether a resolution plan can be reversed to liquidation due to the failure of the resolution applicant to implement the plan despite multiple opportunities. CASE TYPE: Insolvency Law Case Name: Kridhan Infrastructure Pvt Ltd (Now known as Krish Steel and Trading Pvt Ltd)

Supreme Court Upholds Liquidation Order After Failed Resolution Plan Implementation in Insolvency Case (01 March 2021) Read Post »

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