Date of the Judgment: March 04, 2025 Citation: 2025 INSC 314 Judges: Vikram Nath, J., Prasanna B. Varale, J. Does the interim moratorium under Section 96 of the Insolvency and Bankruptcy Code (IBC) apply to penalties imposed under the Consumer Protection Act (CP Act)? This question was recently addressed by the Supreme Court in a […]
Date of the Judgment: 20 February 2025 Citation: 2025 INSC 253 Judges: Pamidighantam Sri Narasimha, J., Manoj Misra, J. Can a High Court interfere with personal insolvency proceedings initiated under Section 95 of the Insolvency and Bankruptcy Code (IBC) by claiming a waiver of liability? The Supreme Court addressed this critical question in the case
Supreme Court Upholds Constitutionality of Sections 95-100 of IBC: Dilip B Jiwrajka vs. Union of India (2023) LEGAL ISSUE: Constitutional validity of the process for initiating insolvency resolution for personal guarantors under Sections 95-100 of the Insolvency and Bankruptcy Code, 2016 (IBC). CASE TYPE: Insolvency Law, Constitutional Law Case Name: Dilip B Jiwrajka vs. Union
Supreme Court Upholds Inclusion of Development Rights as Corporate Assets in Insolvency: Victory Iron Works Ltd. vs. Jitendra Lohia (2023) LEGAL ISSUE: Whether development rights of a corporate debtor over a property can be considered as an asset during the Corporate Insolvency Resolution Process (CIRP). CASE TYPE: Insolvency Law Case Name: Victory Iron Works Ltd.
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 clarifies ineligibility under Section 29A(h) of IBC: Bank of Baroda vs. MBL Infrastructures (2022) LEGAL ISSUE: Interpretation of Section 29A(h) of the Insolvency and Bankruptcy Code, 2016 concerning the eligibility of a resolution applicant who has provided a guarantee to a creditor. CASE TYPE: Insolvency Law Case Name: Bank of Baroda & Anr.
Supreme Court Upholds Committee of Creditors’ Commercial Wisdom in Essar Steel Insolvency Resolution Date of the Judgment: 15 November 2019 Citation: (2019) INSC 1067 Judges: R.F. Nariman, J., Surya Kant, J., V. Ramasubramanian, J. Can a resolution plan approved by a Committee of Creditors be overturned by the National Company Law Appellate Tribunal (NCLAT)? The
Supreme Court extends CIRP timeline for Jaypee Infratech: Jaiprakash Associates Ltd vs. IDBI Bank Ltd (2019) LEGAL ISSUE: Whether the National Company Law Appellate Tribunal (NCLAT) has the authority to exclude certain periods from the Corporate Insolvency Resolution Process (CIRP) timeline and restart the CIRP with revised resolution plans. CASE TYPE: Corporate Insolvency Case Name:
Can an application for corporate insolvency be rejected if defects are not rectified within seven days? The Supreme Court of India addressed this question, clarifying the nature of the seven-day time limit for rectifying defects in applications filed by operational creditors under the Insolvency and Bankruptcy Code, 2016. This judgment has significant implications for the
