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REEDNews
Latest News on the Insolvency, Bankruptcy and Debt Recovery laws
NCLAT Rejects Conditional Withdrawal of Appeal by GBJ Hotels Following Supreme Court’s Confirmation of Property Sale to GRT Hotels
The National Company Law Appellate Tribunal (NCLAT) rejected the conditional withdrawal of the appeal filed by GBJ Hotels, following the...
23 minutes ago3 min read
9 views
NCLAT Chennai Dismisses Byju’s Appeal Against NCLT’s Interim Order in Aakash Shareholding Dispute
The National Company Law Appellate Tribunal (NCLAT), Chennai, dismissed Byju’s appeal challenging the interim order passed by the NCLT in...
4 hours ago3 min read
18 views
NCLAT Sets Aside Adverse Observations Against Resolution Professional Misattributed from CoC Member’s Submissions
The NCLAT set aside the adverse observations made against the Resolution Professional, holding that they were incorrectly based on...
1 day ago3 min read
103 views
NCLAT Sets Aside NCLT Order and Restores Section 95 IBC Application Applying Supreme Court’s COVID-19 Limitation Exclusion
The NCLAT set aside the NCLT order and restored the Section 95 IBC application by applying the Supreme Court’s COVID-19 limitation...
2 days ago2 min read
42 views
Supreme Court Affirms Compliance of Resolution Plan with IBC – Declines Interference in Approved Judgment
The Supreme Court affirmed that the approved resolution plan was in compliance with the provisions of the Insolvency and Bankruptcy Code,...
2 days ago2 min read
77 views
NCLAT Sets Aside NCLT Order, Grants 90-Day Extension for CIRP Completion Citing Changed Circumstances and CoC Reconstitution
The National Company Law Appellate Tribunal (NCLAT) set aside the NCLT’s order and granted a 90-day extension for completion of the...
2 days ago3 min read
36 views
NCLAT Holds Adjudicating Authority Lacks Jurisdiction Over Customs Liability Disputes Under IBC Framework
The NCLAT held that the Adjudicating Authority lacks jurisdiction to adjudicate customs liability disputes under the framework of the...
2 days ago2 min read
37 views
NCLAT Rules Interest-Free Maintenance Security (IFMS) Not a Financial Debt: Rejects Section 7 IBC Plea
The NCLAT ruled that Interest-Free Maintenance Security (IFMS) is not a financial debt and rejected the Section 7 plea under the IBC. The...
3 days ago3 min read
30 views
Supreme Court Upholds NCLAT’s Rejection of Delayed Appeal in Company Restoration Case: Condonation Beyond Statutory Limit Not Permissible
The Supreme Court upheld the NCLAT’s rejection of a delayed appeal in a company restoration case, ruling that condonation of delay beyond...
3 days ago3 min read
29 views
IBC Application Under Section 9 Not Maintainable for Unagreed Interest Claims Based Solely on Invoice Clause
NCLAT held that an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, is not maintainable when the claim pertains...
4 days ago3 min read
75 views
NCLAT Upholds Resolution Plan Approved Within CIRP Timeline; Dissenting Unsecured Creditors Bound by CoC’s Commercial Wisdom
The NCLAT upheld the resolution plan approved within the CIRP timeline, ruling that dissenting unsecured creditors are bound by the...
4 days ago3 min read
36 views
Supreme Court Sets Aside CIRP Admission on Settlement; Affirms Corporate Debtor’s Obligation to Pay CIRP Costs
The Supreme Court set aside the admission of the Corporate Insolvency Resolution Process (CIRP) in light of a settlement between the...
4 days ago3 min read
151 views
NCLAT Upholds CIRP Extension: Dissenting Creditor Cannot Undermine CoC’s Commercial Wisdom and Revival Efforts
The NCLAT upheld the CIRP extension, holding that a dissenting creditor cannot override the commercial wisdom of the Committee of...
5 days ago3 min read
58 views
Essential Supply Protection under Section 14(2) IBC: Electricity Disconnection Prohibited During CIRP Moratorium Despite Non-Payment
NCLAT held that under Section 14(2) of the IBC, electricity as an essential supply cannot be disconnected during the CIRP moratorium...
5 days ago3 min read
48 views
Limitations on Condonation: NCLAT Clarifies Inapplicability of Holiday Exclusion to Discretionary Period under Section 61(2) IBC
The NCLAT clarified that the exclusion of holidays under the Limitation Act does not apply to the discretionary 15-day condonation period...
6 days ago4 min read
41 views
Calcutta High Court Upholds Employee’s Right to Full Gratuity Despite CIRP Approval; Declares Gratuity Outside Liquidation Estate Under IBC
The Calcutta High Court upheld the employee’s right to receive full gratuity despite the approval of the Resolution Plan under CIRP,...
6 days ago3 min read
83 views
NCLAT Sets Aside NCLT’s Perjury Conviction: Holds Special Courts Have Exclusive Jurisdiction Under IBC
The NCLAT set aside the NCLT’s perjury conviction, holding that only Special Courts have exclusive jurisdiction to try offences under the...
Jun 44 min read
121 views
NCLAT Affirms Shareholders’ Absolute Right to Replace Voluntary Liquidator Without NCLT Intervention
The NCLAT affirmed that shareholders have the absolute right to replace a voluntary liquidator under Section 59 of the IBC without...
Jun 43 min read
92 views
Moratorium Under IBC Bars Section 138 NI Act Proceedings Against Corporate Debtor but Not Against Directors
The moratorium under the Insolvency and Bankruptcy Code bars proceedings under Section 138 of the Negotiable Instruments Act against the...
Jun 33 min read
77 views
Unauthorised Post-CIRP Transactions Held Void Under IBC Moratorium: NCLAT Upholds Refund Direction
NCLAT held that unauthorised post-CIRP transactions were void under the IBC moratorium and upheld the direction for refund to the...
Jun 33 min read
67 views
Arbitration in Loan Disputes: Limited Jurisdiction of Courts and Fraud Allegations Do Not Bar Reference Unless Arbitration Clause Is Vitiated
The High Court held that arbitration in loan disputes is not barred by fraud allegations or the limited jurisdiction of courts unless the...
Jun 23 min read
48 views
NCLAT Holds CoC Can Extend Timeline for EoIs and Resolution Plans Without Fresh Form-G, Affirms Commercial Wisdom in Approving Resolution Plan
The NCLAT held that the Committee of Creditors (CoC) is empowered to extend the timeline for submission of Expressions of Interest (EoIs)...
Jun 23 min read
83 views
Supreme Court Grants Interim Relief to Kalyani Transco, Stays NCLT Action Pending Review
The Supreme Court granted interim relief to Kalyani Transco and stayed the proceedings before the NCLT pending the filing and disposal of...
Jun 23 min read
71 views
Insolvency and Bankruptcy Code’s Transformational Impact: IIM Bangalore Study Reveals Stronger Credit Discipline, Lower Debt Costs, and Improved Corporate Governance
A recent research study titled Behavioural Impact of the Insolvency and Bankruptcy Code (IBC) Â conducted by the Indian Institute of...
Jun 22 min read
25 views
NCLAT Holds Refundable Fund Infusion as Financial Debt Under IBC Even Without Interest, Where Transaction Reflects Time Value of Money
The NCLAT held that a refundable fund infusion qualifies as financial debt under the IBC, even without interest, where the transaction...
Jun 13 min read
72 views
NCLAT Quashes CIRP: Pre-Existing Disputes Override Section 9 IBC Admission Against the Corporate Debtor
NCLAT quashed the initiation of CIRP against the Corporate Debtor, holding that pre-existing disputes barred the admission of a Section 9...
Jun 13 min read
48 views
Financial Creditor’s Control No Shield for Default: NCLAT Affirms CIRP Against Shree Vardhman Infraheights Despite PMC Oversight
NCLAT held that the financial creditor’s involvement and control through the Project Monitoring Committee (PMC) did not shield the...
Jun 13 min read
45 views
IBC Trigger Upheld Despite No Dues Certificate: NCLAT Affirms Balance Sheet Acknowledgement as Valid Debt Admission
NCLAT upheld the initiation of the Corporate Insolvency Resolution Process under the IBC despite the existence of a No Dues Certificate,...
May 313 min read
64 views
IBBI Notifies Fourth Amendment to CIRP Regulations, 2025: Enhancing Creditor Rights and Procedural Clarity
IBBI’s Fourth Amendment to CIRP Regulations, 2025 boosts transparency, flexibility, and creditor protection in insolvency resolution. On...
May 302 min read
123 views
Homebuyers' Dominance in CoC Does Not Override Statutory CIRP Framework Under IBC
NCLAT held that homebuyers' dominance in the Committee of Creditors does not override the statutory Corporate Insolvency Resolution...
May 303 min read
78 views
NCLAT Sets Aside NCLT Order; Reaffirms That Silence to Section 8 Notice Does Not Bar Proof of Pre-Existing Dispute Under IBC
The NCLAT set aside the NCLT’s order and reaffirmed that failure to respond to a Section 8 notice does not bar the Corporate Debtor from...
May 293 min read
56 views
NCLAT Strikes Down Non-Speaking Order on IRP Fees, Commands Detailed Justification and Prompt Reconsideration
The NCLAT set aside the non-speaking order on IRP fees and directed a detailed justification along with a prompt reconsideration of the...
May 283 min read
320 views
NCLAT Rules with Finality: Security Deposit Without Time Value of Money is Not Financial Debt Under IBC
The NCLAT has ruled with finality that a security deposit lacking the element of time value of money does not qualify as a financial debt...
May 283 min read
44 views
Streamlined Compliance in CIRP: Launch of Revised Reporting Framework and Forms by IBBI
The IBBI has introduced a simplified and consolidated reporting framework for CIRP, replacing nine existing forms with five new ones...
May 283 min read
62 views
NCLAT Quashes Contempt Conviction of Government Officials After Full Compliance and Unqualified Apology for Non-Wilful Breach of Liquidation Order
The NCLAT quashed the contempt conviction of government officials after they fully complied with the liquidation order and tendered an...
May 272 min read
71 views
IBC Recoveries Peak at 70% in Q4 FY2025 Amid Fewer Liquidations, but Resolution Delays and NCLT Bottlenecks Persist: ICRA
ICRA reports a record 70% recovery under the IBC in Q4 FY 2025 driven by large cases, even as resolution delays and NCLT inefficiencies...
May 272 min read
28 views
NCLAT Affirms ‘Related Party’ Status Under IBC: Binding Utility Agreement Overrides Flawed Termination Claim
The NCLAT affirmed the 'related party' status of the Appellant under the IBC, holding that the binding Utility Operation and Management...
May 263 min read
65 views
NCLAT Upholds Validity of Going Concern Sale Under Amended Regulation 32A(4) and Affirms Clean Slate Protection for Successful Bidder
The NCLAT upheld the validity of the sale of the Corporate Debtor as a going concern conducted under the amended Regulation 32A(4) and...
May 263 min read
95 views
NCLAT Holds H1 Bidder Immunity Ceases When Only Two Bidders Remain in CIRP Bidding Process
The NCLAT held that the immunity granted to the H1 bidder under the Negotiation Process ceases to apply once only two bidders remain in...
May 263 min read
51 views
Assignment of Debt by Related Party After CIRP Commencement to Circumvent CoC Disqualification Is Invalid: NCLAT Dismisses Appeal
NCLAT held that the assignment of debt by a related party after the commencement of CIRP with the intention to circumvent...
May 253 min read
61 views
Belated and Resolved Disputes Do Not Bar CIRP Initiation Under Section 9 of IBC: NCLAT Clarifies
NCLAT clarified that belated and resolved disputes do not bar the initiation of the Corporate Insolvency Resolution Process (CIRP) under...
May 253 min read
31 views
NCLAT Affirms Absolute Extinguishment of Residual Liabilities Post Going Concern Sale Under IBC
NCLAT has affirmed the absolute extinguishment of residual liabilities following the sale of a corporate debtor as a going concern under...
May 253 min read
69 views
Delay in Filing Appeal Without Seeking Certified Copy Bars Relief Under IBC
NCLAT held that a delay in filing an appeal without seeking a certified copy of the impugned order bars relief under the IBC. The...
May 253 min read
49 views
NCLAT Upholds Exclusivity of CoC-Approved Resolution Plan, Rejects Promoter’s Attempt to Introduce Alternate Plan During Pending Approval
The NCLAT upheld the exclusivity of the resolution plan approved by the Committee of Creditors and rejected the promoter’s attempt to...
May 253 min read
1,860 views
Loan Disguised as Sale Found to Be Financial Debt: NCLAT Clarifies Scope of Commercial Borrowing under IBC
NCLAT held that a loan transaction disguised as a sale agreement constituted a commercial borrowing and qualified as a financial debt...
May 253 min read
66 views
NCLAT Upholds CoC Supremacy, Strikes Down Judicial Overreach in Resolution Plan Approval
The NCLAT upheld the supremacy of the Committee of Creditors and struck down the NCLT’s judicial overreach in modifying a duly approved...
May 253 min read
74 views
Secured Creditors Have No Priority Over MPID Attachments: Supreme Court Affirms Limits of Article 142 Powers
The Supreme Court held that secured creditors have no priority over properties attached under the MPID Act and reaffirmed that its powers...
May 213 min read
102 views
NCLAT Affirms: Financial Creditor’s Project Oversight Does Not Nullify Corporate Debtor’s Default Under Section 7 IBC
NCLAT affirmed that the financial creditor’s oversight and involvement in the project through the Project Monitoring Committee does not...
May 203 min read
42 views
Uninvoked Guarantees Are Not Admissible Claims Under CIRP: NCLAT Affirms Strict Cut-Off for Debt Maturity
NCLAT held that uninvoked corporate guarantees cannot form the basis of an admissible claim under the CIRP, affirming that only debts...
May 193 min read
133 views
NCLAT Upholds Indian Bank’s Right to Initiate Insolvency Proceedings Despite Majority Lenders’ Assignment to NARCL
The NCLAT upheld the Indian Bank’s right to initiate insolvency proceedings under Section 7 of the IBC, despite the fact that a majority...
May 193 min read
101 views
Loan Settled, Yet Gold Revalued and Auctioned — Supreme Court Restores FIR Alleging Fraud by Bank Officials
The Supreme Court held that once the loan was settled, the subsequent revaluation and auction of the pledged gold raised serious doubts,...
5 hours ago3 min read
35 views
Supreme Court Upholds Mandatory Pre-Deposit for MSMED Act Appeals Despite Writ Invocation
The Supreme Court upheld the mandatory pre-deposit requirement under the MSMED Act for appeals, even when the party invoked the writ...
7 days ago3 min read
164 views
Moratorium Under IBC Bars Section 138 NI Act Proceedings Against Corporate Debtor but Not Against Directors
The moratorium under the Insolvency and Bankruptcy Code bars proceedings under Section 138 of the Negotiable Instruments Act against the...
Jun 33 min read
77 views
Arbitration in Loan Disputes: Limited Jurisdiction of Courts and Fraud Allegations Do Not Bar Reference Unless Arbitration Clause Is Vitiated
The High Court held that arbitration in loan disputes is not barred by fraud allegations or the limited jurisdiction of courts unless the...
Jun 23 min read
48 views
Essence of Contract, Forfeiture of Earnest Money, and Specific Pleadings in Enforcement of Sale Agreements: Supreme Court Ruling
The Supreme Court, in a recent ruling, examined the essence of contract, the forfeiture of earnest money, and the necessity of specific...
May 273 min read
101 views
Supreme Court Affirms: Encashment of Bank Guarantee Is Not Duty Payment — Clarifies Refund Eligibility Under Customs Act
The Supreme Court has affirmed that the encashment of a bank guarantee does not constitute payment of duty and has clarified the...
May 203 min read
63 views
Commercial Execution Proceedings Withdrawn Following Settlement – Liberty Granted to Restore on Breach of Terms
The High Court allowed the withdrawal of commercial execution proceedings following a settlement agreement between the parties, while...
Apr 112 min read
29 views
Proceedings under Section 138 of NI Act Against an Individual are Barred During Interim Moratorium Under Section 96 of the IBC
The High Court held that proceedings under Section 138 of the Negotiable Instruments Act against an individual are barred during the...
Apr 102 min read
63 views
Personal Insolvency Proceedings Cannot Shield Individuals from Prosecution under Section 138 of the N.I. Act Despite Interim Moratorium under Section 96 of the IBC
The Supreme Court held that personal insolvency proceedings under the IBC cannot shield individuals from prosecution under Section 138 of...
Apr 54 min read
78 views
Supreme Court Reaffirms Statutory Presumption Under NI Act – Mere Denial by Accused Insufficient to Rebut Liability
The Supreme Court reaffirmed the statutory presumption under the Negotiable Instruments Act, holding that mere denial by the accused was...
Apr 33 min read
109 views
Wilful Defaulter Classification Must Adhere to Principles of Natural Justice – High Court Strikes Down Arbitrary Declaration Based on a Discredited Audit Report
The High Court ruled that the classification of a wilful defaulter must adhere to the principles of natural justice and struck down the...
Apr 24 min read
104 views
Banking Laws (Amendment) Bill, 2024: Key Reforms in Nomination, Substantial Interest, and Regulatory Compliance
Parliament has passed the Banking Laws (Amendment) Bill, 2024 , introducing significant reforms in banking regulations. The Rajya Sabha...
Mar 272 min read
95 views
Cheque Bounce Proceedings Against Director Unsustainable as Cause of Action Arose Post-Moratorium Under IBC
Supreme Court ruled that cheque bounce proceedings against the director are unsustainable as the cause of action arose after the...
Mar 193 min read
131 views
Cheque Dishonour Complaint Maintainable at Payee’s Bank Location; Accused’s Convenience Not a Ground for Transfer: Supreme Court
The Supreme Court had ruled that a cheque dishonour complaint is maintainable at the payee’s bank location and that the accused cannot...
Mar 133 min read
62 views
IBBI Celebrates International Women’s Day 2025 with Inspiring Deliberations
The Insolvency and Bankruptcy Board of India (IBBI) commemorated International Women’s Day 2025  through a virtual event on March 06,...
Mar 71 min read
9 views
Post-Dated Cheques Issued for Security Deposit Amount to a Legally Enforceable Debt; Supreme Court Upholds Conviction and Enhanced Compensation Under Section 138 of NI Act
The Supreme Court upheld the conviction and enhanced compensation under Section 138 of the NI Act, ruling that post-dated cheques issued...
Mar 64 min read
257 views
Borrower Not a 'Consumer' If Loan Is for Profit-Making, Complaint Against Bank Not Maintainable
The Supreme Court rules that a borrower is not a 'consumer' if the loan is taken for profit-making purposes, making a complaint against...
Mar 23 min read
123 views
MSMED Act Will Prevail Over Arbitration Act In Disputes Pertaining To A Party Which Is An MSME
The High Court held that in disputes involving an MSME, the provisions of the MSMED Act will override the Arbitration Act. On 24-02-2025,...
Feb 273 min read
90 views
RBI Issues Draft Guidelines on Foreclosure Charges and Pre-Payment Penalties for Loans – Seeks Public Comments
The Reserve Bank of India (RBI) has released a draft circular inviting comments from stakeholders and the public on its proposed...
Feb 242 min read
111 views
Supreme Court Rules on Priority of Charges and Enforceability of Equitable Mortgages Under the Transfer of Property Act, 1882
The Supreme Court Clarified the Priority of Charges and the Enforceability of Equitable Mortgages Under the Transfer of Property Act,...
Feb 226 min read
164 views
Byju's committee of creditors votes to Replace Resolution Professional Following NCLT’s Scrutiny
The National Company Law Tribunal (NCLT) has taken a decisive step in the ongoing insolvency proceedings against Byju’s parent company,...
Feb 192 min read
81 views
Acquittal in Criminal Proceedings Does Not Preclude Disciplinary Action; Supreme Court Upholds Dismissal for Bank Fraud
The Supreme Court held that an acquittal in criminal proceedings does not preclude disciplinary action and upheld the respondent’s...
Feb 73 min read
2 views
Revised Guidelines on Settlement of Dues by Asset Reconstruction Companies (ARCs)
The Reserve Bank of India (RBI) issued today the revised guidelines on the settlement of dues payable by borrowers of Asset...
Jan 202 min read
48 views
Validity of MSME Registration in CIRP Context: Supreme Court Allows Challenge via Writ Petition, Stays Proceedings
The Supreme Court permitted the Central Bank of India to challenge the validity of the MSME Registration Certificate issued to the...
Jan 162 min read
40 views
Government to Launch New Collateral-Free Credit Guarantee Scheme for MSMEs Covering Loans up to Rs 100 Crore to Boost Economic Growth
The Government of India is set to introduce a new credit guarantee scheme for Micro, Small, and Medium Enterprises (MSMEs), aimed at...
Jan 111 min read
7 views
MSME Ministry Hosts Consultation to Ease Compliance Under Companies Act, 2013
The Ministry of Micro, Small, and Medium Enterprises (MSME) is set to host a Stakeholder Consultation on January 10, 2025, in New Delhi...
Jan 91 min read
16 views
No Loans or Utility Connections for Buildings Without Completion/Occupation Certificate, Orders Supreme Court
The Supreme Court of India, in a decisive ruling, has issued comprehensive guidelines aimed at curbing the rise of unauthorized...
Jan 62 min read
156 views
Strengthening Support for MSMEs: FISME's Budget Recommendations for Improved Financial Frameworks and Growth
In its budget recommendations, the Federation of Indian Micro and Small & Medium Enterprises (FISME) stressed the need to enhance the...
Jan 62 min read
10 views
Limitation Period for Objections to Arbitral Award Starts from Awareness of Award, Not Formal Notice: Supreme Court Clarifies under Section 14(2) of the Arbitration Act, 1940
Supreme Court clarified that the limitation period for objections to an arbitral award commenced from the objector's awareness of the...
Jan 52 min read
78 views
Validity of Complaints Filed by Authorized Representatives Under Section 138 NI Act: Authorization and Knowledge as Trial Issues
Supreme Court upheld the validity of complaints filed by authorized representatives under Section 138 of the NI Act, emphasizing that...
Jan 53 min read
66 views
Authorized Signatories Excluded from Interim Compensation Liability under Section 143-A of the NI Act: Supreme Court Upholds Strict Interpretation
The Supreme Court upheld a strict interpretation of Section 143-A of the NI Act, ruling that authorized signatories are excluded from...
Dec 24, 20243 min read
30 views
Judicial Rejection of Procedural Delays in NI Act Cases: Upholding Trial Efficiency and Evidentiary Principles
The High Court rejected procedural delays in NI Act cases, emphasizing trial efficiency and reaffirming that expert opinions are...
Dec 23, 20242 min read
15 views
Arbitration Petition Dismissed as Claims are Ex Facie Time-Barred and Beyond the Limitation Period
The Supreme Court dismissed the arbitration petition, holding that the claims were ex facie  time-barred and beyond the limitation...
Dec 20, 20243 min read
49 views
Sanjay Malhotra Appointed as the New RBI Governor
Sanjay Malhotra has been appointed as the 26th Governor of the Reserve Bank of India (RBI) for a three-year term, beginning December 10,...
Dec 9, 20241 min read
5 views
Strengthening Governance and Customer Convenience: Key Highlights of the Banking Laws (Amendment) Bill, 2024
The Banking Laws (Amendment) Bill, 2024 , introduced by Finance Minister Nirmala Sitharaman, aims to modernize governance frameworks,...
Dec 4, 20242 min read
28 views
Appellate Court's Power to Waive 20% Deposit Under Section 148 of the Negotiable Instruments Act: A Key Ruling
High Court ruled that the Appellate Court had the power to waive the 20% deposit under Section 148 of the Negotiable Instruments Act in...
Nov 26, 20242 min read
56 views
Supreme Court Rules Against Awarding Interest on Interest in Absence of Statutory or Contractual Provision
The Supreme Court ruled against awarding interest on interest in the absence of a statutory or contractual provision. The Supreme Court...
Nov 26, 20242 min read
66 views
High Court Quashes Section 138 NI Act Complaints Against Non-Executive Directors for Lack of Specific Averments on Responsibility and Involvement
The High Court quashed the Section 138 NI Act complaints against non-executive directors for the lack of specific averments regarding...
Nov 26, 20242 min read
24 views
District Magistrate's Role Under Section 14 of SARFAESI Act is Ministerial, Not Adjudicatory: Appeal Dismissed
The District Magistrate's role under Section 14 of the SARFAESI Act was deemed ministerial and not adjudicatory, leading to the dismissal...
Nov 21, 20243 min read
75 views
Supreme Court Rules: No Disciplinary Proceedings Can Be Initiated Against Employees Post-Retirement
The Supreme Court ruled that no disciplinary proceedings could be initiated against employees after their retirement. The Supreme Court...
Nov 20, 20242 min read
67 views
Supreme Court Reinstates Equitable Mortgage Claim, Emphasizes Evidentiary and Procedural Fairness
The Supreme Court reinstated an equitable mortgage claim, emphasizing the importance of evidentiary and procedural fairness. The Supreme...
Nov 16, 20243 min read
37 views
Govt to Introduce Creditor Led Resolution Process (CLR): New Out-of-Court Mechanism for Quick Resolutions with Limited NCLT Involvement
The Centre is poised to introduce significant amendments to the Insolvency and Bankruptcy Code (IBC) and the Companies Act, with plans to...
Nov 8, 20241 min read
60 views
IBBI and IBA Launch Centralized eBKray Platform to Enhance Transparency and Recovery in IBC Liquidation Auctions
In a transformative step for asset liquidation under the Insolvency and Bankruptcy Code (IBC), the Insolvency and Bankruptcy Board of...
Nov 5, 20243 min read
29 views
Supreme Court Mandates Strict Compliance with MSME Revival Framework Before NPA Classification by Banks
The Supreme Court mandated strict compliance with the MSME revival framework by banks before classifying loan accounts as NPAs. The...
Nov 4, 20242 min read
113 views
Strict Enforcement of Protections Against NPA Classification and Recovery Actions by Banks: MSME Borrowers Demand
The National MSME Borrowers Association recently emphasized the urgent need for the enforcement of a 2015 Notification that mandates a...
Nov 4, 20241 min read
67 views
Engagement of Research Associates in Law at the Insolvency and Bankruptcy Board of India (IBBI) on a Contract Basis
The Insolvency and Bankruptcy Board of India (IBBI), established under the Insolvency and Bankruptcy Code, 2016, has invited applications...
Oct 19, 20242 min read
52 views
Central Banking at Crossroads: Navigating Challenges, Innovation, and the Future
In his keynote address at the RBI@90 High-Level Conference held in New Delhi on October 14, 2024, Governor Shaktikanta Das emphasized the...
Oct 15, 20242 min read
19 views
Membership and Reporting to Credit Information Companies (CICs) by Asset Reconstruction Companies (ARCs) is Now Mandatory
In accordance with Circular No. DNBS (PD-SC/RC). CC. No. 23/26.03.001/2010-11 dated November 25, 2010, regarding the submission of...
Oct 12, 20242 min read
13 views
The Reserve Bank (RBI) Proposes Beneficiary Name Verification for RTGS and NEFT Transactions
The Central Bank has proposed a significant enhancement to its Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer...
Oct 11, 20241 min read
9 views
Byju’s Allegedly Transferred Funds in Violation of U.S. Bankruptcy Rules
Indian edtech company Byju's, already embroiled in legal and financial difficulties, is now facing fresh allegations of fund transfers in...
Oct 11, 20241 min read
8 views
High Court Recalls Direction to Pay Interest on Auction Deposit Upon Disclosure of Suppressed Facts; Holds Remedy Lies Before DRT
The High Court recalled its earlier direction to pay interest on the auction deposit upon discovering that material facts had been...
1 day ago2 min read
52 views
Bombay High Court: Mortgage of Leasehold Industrial Property Without MIDC Consent Not Void; MIDC Lacks Power to Impose Subletting Charges
Bombay High Court held that the mortgage of leasehold industrial property without the prior consent of MIDC was not void, and further...
6 days ago3 min read
91 views
Supreme Court Upholds Mandatory Statutory Arbitration u/s 11 SARFAESI Act for Inter-Creditor Disputes Involving Priority of Charge Between Banks on the Same Secured Asset
The Supreme Court has upheld mandatory statutory arbitration under Section 11 of the SARFAESI Act for inter-creditor disputes involving...
May 293 min read
58 views
High Court Quashes Unreasoned DRT Order; Emphasises Judicial Application of Mind, Urges Finance Ministry to Consider Officer Training
The High Court quashed an unreasoned order passed by the DRT, emphasised the necessity of judicial application of mind, and urged the...
May 252 min read
117 views
Department of Financial Services (DFS) organises a colloquium of Chairpersons of Debts Recovery Appellate Tribunals (DRATs) and Presiding Officers of Debt Recovery Tribunals (DRTs)
Various key initiatives taken by the Department highlighted at the colloquium, such as the adoption of revised DRT Regulations, mandatory...
May 251 min read
53 views
Secured Creditors Have No Priority Over MPID Attachments: Supreme Court Affirms Limits of Article 142 Powers
The Supreme Court held that secured creditors have no priority over properties attached under the MPID Act and reaffirmed that its powers...
May 213 min read
102 views
Reinitiation of SARFAESI Proceedings Not a Valid Ground to Claim Refund of Forfeited Earnest Money under Rule 9(5)
High Court held that the reinitiation of SARFAESI proceedings by the bank does not constitute a valid ground to seek refund of forfeited...
May 113 min read
90 views
NCLAT Cannot Declare Registered Sale Deed as Non-binding in Absence of Title Transfer through Registered Conveyance or Suit for Specific Performance
The Supreme Court held that the NCLAT could not have declared the registered sale deed as non-binding on the company in the absence of a...
Apr 173 min read
93 views
Wilful Defaulter Classification Must Adhere to Principles of Natural Justice – High Court Strikes Down Arbitrary Declaration Based on a Discredited Audit Report
The High Court ruled that the classification of a wilful defaulter must adhere to the principles of natural justice and struck down the...
Apr 24 min read
104 views
Chandigarh DRT Presiding Officer Challenges Suspension Extension in Delhi High Court, Cites Unjust Harassment
Mr. M.M. Dhonchak, Presiding Officer of Debts Recovery Tribunal (DRT)-2, Chandigarh, has filed an appeal before the Division Bench of the...
Mar 312 min read
83 views
Banking Laws (Amendment) Bill, 2024: Key Reforms in Nomination, Substantial Interest, and Regulatory Compliance
Parliament has passed the Banking Laws (Amendment) Bill, 2024 , introducing significant reforms in banking regulations. The Rajya Sabha...
Mar 272 min read
95 views
Although Non-Adjudicatory, a Chief Judicial Magistrate’s Role Under Section 14 of the SARFAESI Act Mandates Due Application of Mind
The High Court held that although non-adjudicatory, a Chief Judicial Magistrate’s role under Section 14 of the SARFAESI Act mandates due...
Mar 253 min read
157 views
IBBI Celebrates International Women’s Day 2025 with Inspiring Deliberations
The Insolvency and Bankruptcy Board of India (IBBI) commemorated International Women’s Day 2025  through a virtual event on March 06,...
Mar 71 min read
9 views
Banks Can Initiate Proceedings Under SARFAESI Act If Not a Party to the Resolution Plan
The High Court ruled that banks could initiate proceedings under the SARFAESI Act if they were not a party to the resolution plan. The...
Mar 53 min read
79 views
Borrower Not a 'Consumer' If Loan Is for Profit-Making, Complaint Against Bank Not Maintainable
The Supreme Court rules that a borrower is not a 'consumer' if the loan is taken for profit-making purposes, making a complaint against...
Mar 23 min read
123 views
Supreme Court Rules on Priority of Charges and Enforceability of Equitable Mortgages Under the Transfer of Property Act, 1882
The Supreme Court Clarified the Priority of Charges and the Enforceability of Equitable Mortgages Under the Transfer of Property Act,...
Feb 226 min read
164 views
Supreme Court Upholds Validity of Section 101 IBC, Addresses Concern Over Post-Moratorium Creditor Actions in Individual Insolvency
The Supreme Court upheld the validity of Section 101 of the IBC and addressed concerns over post-moratorium creditor actions in...
Feb 203 min read
159 views
Byju's committee of creditors votes to Replace Resolution Professional Following NCLT’s Scrutiny
The National Company Law Tribunal (NCLT) has taken a decisive step in the ongoing insolvency proceedings against Byju’s parent company,...
Feb 192 min read
81 views
DRT Cannot Restore Possession of Secured Assets to Non-Borrower or Non-Possessor – Civil Court Jurisdiction and DRT's Powers under SARFAESI Act
The Supreme Court held that the DRT could not restore possession of the secured asset to a person who was neither the borrower nor the...
Jan 254 min read
151 views
Supreme Court Directs Centre to Provide Additional Staff for DRTs to Ensure Uninterrupted Functioning
The Supreme Court, on January 17, 2025, ruled that the Union of India must provide additional staff to the Debts Recovery Tribunals...
Jan 212 min read
17 views
Revised Guidelines on Settlement of Dues by Asset Reconstruction Companies (ARCs)
The Reserve Bank of India (RBI) issued today the revised guidelines on the settlement of dues payable by borrowers of Asset...
Jan 202 min read
48 views
Remand of Securitisation Application for Reconsideration in Light of Fresh Adjudication of Original Application
DRAT remanded the Securitisation Application to the DRT for fresh adjudication, directing it to reconsider the matter alongside the...
Jan 162 min read
31 views
Government to Launch New Collateral-Free Credit Guarantee Scheme for MSMEs Covering Loans up to Rs 100 Crore to Boost Economic Growth
The Government of India is set to introduce a new credit guarantee scheme for Micro, Small, and Medium Enterprises (MSMEs), aimed at...
Jan 111 min read
7 views
Rights of Secured Creditors under Section 26E of the SARFAESI Act Take Precedence Over Crown Debts
The High Court ruled that the rights of secured creditors under Section 26E of the SARFAESI Act take precedence over Crown debts,...
Jan 92 min read
59 views
Procedural Irregularities in SARFAESI Auctions Do Not Invalidate Sales Without Collusion, Fraud, or Prejudice
DRT held that procedural irregularities in SARFAESI auctions did not invalidate sales unless collusion, fraud, or substantial prejudice...
Jan 82 min read
146 views
No Loans or Utility Connections for Buildings Without Completion/Occupation Certificate, Orders Supreme Court
The Supreme Court of India, in a decisive ruling, has issued comprehensive guidelines aimed at curbing the rise of unauthorized...
Jan 62 min read
156 views
Strengthening Support for MSMEs: FISME's Budget Recommendations for Improved Financial Frameworks and Growth
In its budget recommendations, the Federation of Indian Micro and Small & Medium Enterprises (FISME) stressed the need to enhance the...
Jan 62 min read
10 views
Kerala High Court Upholds Borrowers' Privacy: Public Shaming Declared Unlawful for Debt Recovery
The Kerala High Court upheld borrowers' privacy and declared public shaming as an unlawful method for debt recovery. The Single-Judge...
Dec 27, 20242 min read
27 views
Tribunal Affirms Joint and Several Liability of Borrower and Guarantor for Loan Default with Modified Interest Rate
DRT affirmed the joint and several liability of the borrower and guarantor for loan default while modifying the interest rate. The Debts...
Dec 23, 20242 min read
30 views
Borrower’s Right to Redeem Extinguished Post-Sale Notice; Auction Validity Upheld, Contempt for Obstructing Court’s Order
The Supreme Court held that the borrower's right to redeem the mortgage was extinguished after the sale notice was issued, upheld the...
Dec 22, 20243 min read
35 views
Auction Sale Set Aside for Non-Compliance with Mandatory 30-Day Notice Requirement Under Rules 8(6) and 9(1) of SARFAESI Rules
The DRAT set aside the auction sale for non-compliance with the mandatory 30-day notice requirement under Rules 8(6) and 9(1) of the...
Dec 19, 20244 min read
139 views
Applicant Estopped from Challenging Sale Notice Under SARFAESI Act Following Dismissal of Previous Application
The DRT held that the Applicant was estopped from challenging the Sale Notice under the SARFAESI Act, following the dismissal of the...
Dec 18, 20242 min read
64 views
Ex-Parte Recovery Order Passed in Favour of Bank with Reduction in Penal Interest and Capping of Future Interest at 9% Per Annum
DRT passed an ex-parte recovery order in favour of the Bank, reducing the penal interest and capping the future interest at 9% per annum....
Dec 18, 20242 min read
34 views
Right of Redemption Under Section 13(8) of SARFAESI Act Limited to Mortgagor; Third-Party Possession Insufficient to Challenge Secured Creditor’s Measures
DRAT held that the right of redemption under Section 13(8) of the SARFAESI Act is limited to the mortgagor, and a third party in...
Dec 17, 20243 min read
42 views
Procedural Fairness and Enforceability of Personal Guarantee Document Amid Pending Insolvency Proceedings
The DRT examined the procedural fairness and enforceability of a personal guarantee document in light of pending insolvency proceedings...
Dec 15, 20243 min read
33 views
Non-filing of Written Statement Not Enough for Counter-claim Success - Review Limited to Errors Apparent on Record
The DRAT held that the non-filing of a written statement by SBI did not automatically entitle the counter-claim to succeed and emphasized...
Dec 13, 20243 min read
31 views
Substitution of Authorized Officer by District Magistrate under SARFAESI Act Validated by DRAT
DRAT validated the substitution of the authorized officer by the District Magistrate under the SARFAESI Act. The Debts Recovery Appellate...
Dec 13, 20242 min read
28 views
Rectification of Typographical Errors in Section 14 Orders is Ministerial and Does Not Render the Magistrate Functus Officio
DRAT held that the rectification of typographical errors in Section 14 orders was ministerial in nature and did not render the Magistrate...
Dec 13, 20243 min read
135 views
Sanjay Malhotra Appointed as the New RBI Governor
Sanjay Malhotra has been appointed as the 26th Governor of the Reserve Bank of India (RBI) for a three-year term, beginning December 10,...
Dec 9, 20241 min read
5 views
SARFAESI and Arbitration Proceedings Can Proceed Simultaneously: Court's Scope Under Section 11(6) Limited to Examining Arbitration Agreement
The High Court held that SARFAESI and arbitration proceedings could proceed simultaneously and reiterated that its scope under Section...
Dec 9, 20243 min read
93 views
SARFAESI Act Proceedings Can Coexist with Arbitration and RDB Act Remedies; Procedural Nature Allows Application to Existing Debts
The Supreme Court held that proceedings under the SARFAESI Act could coexist with arbitration and RDB Act remedies, and clarified that...
Dec 9, 20243 min read
50 views
District Magistrate's Ministerial Powers Under Section 14 of SARFAESI Act Affirmed: Substitution of Authorized Officer Upheld
DRAT upheld the District Magistrate's ministerial powers under Section 14 of the SARFAESI Act, affirming the substitution of the...
Dec 4, 20243 min read
69 views
Strengthening Governance and Customer Convenience: Key Highlights of the Banking Laws (Amendment) Bill, 2024
The Banking Laws (Amendment) Bill, 2024 , introduced by Finance Minister Nirmala Sitharaman, aims to modernize governance frameworks,...
Dec 4, 20242 min read
28 views
District Magistrate's Ministerial Role under Section 14 of SARFAESI Act Upheld: Procedural Modifications Deemed Jurisdictionally Valid
DRAT upheld the District Magistrate's ministerial role under Section 14 of the SARFAESI Act, ruling that procedural modifications were...
Dec 3, 20242 min read
46 views
Non-Compliance with Statutory Notice Requirements Renders Auction Sale Invalid Under SARFAESI Act
DRAT held that non-compliance with statutory notice requirements under the SARFAESI Act rendered the auction sale invalid. The Debts...
Nov 30, 20243 min read
104 views
Fraudulent Mortgage Invalidated: Bank Entitled to Recover Dues from Borrowers While Bona Fide Purchasers Exonerated
DRAT invalidated the fraudulent mortgage, upheld the bank's entitlement to recover dues from the borrowers, and exonerated the bona fide...
Nov 29, 20243 min read
59 views
Appeal Dismissed for Misconceived Review Petition; Final Order on Deposit Remains Unchallenged
DRAT dismissed the appeal, finding the application to be a misconceived review petition, and upheld the final order regarding the...
Nov 28, 20242 min read
19 views
Precedence of Prior Mortgages Upheld: Rights of Pre-Mortgage Purchasers Protected While Recovery Against Post-Mortgage Transactions Permitted
DRAT upheld the precedence of prior mortgages, protected the rights of pre-mortgage purchasers, and permitted recovery actions against...
Nov 28, 20243 min read
32 views
DRAT Affirms Validity of SARFAESI Proceedings, Dismissing Securitization Application on Grounds of Procedural Compliance
DRAT affirmed the validity of the SARFAESI proceedings and dismissed the securitization application on the grounds of procedural...
Nov 27, 20243 min read
82 views
DRAT Sets Aside DRT Order, Emphasizes Substantive Justice Over Procedural Technicalities in SARFAESI Applications
DRAT set aside the DRT order and emphasized substantive justice over procedural technicalities in SARFAESI applications. The Debts...
Nov 27, 20242 min read
53 views
NCLAT Rejects Conditional Withdrawal of Appeal by GBJ Hotels Following Supreme Court’s Confirmation of Property Sale to GRT Hotels
The National Company Law Appellate Tribunal (NCLAT) rejected the conditional withdrawal of the appeal filed by GBJ Hotels, following the...
23 minutes ago3 min read
9 views
NCLAT Chennai Dismisses Byju’s Appeal Against NCLT’s Interim Order in Aakash Shareholding Dispute
The National Company Law Appellate Tribunal (NCLAT), Chennai, dismissed Byju’s appeal challenging the interim order passed by the NCLT in...
4 hours ago3 min read
18 views
Loan Settled, Yet Gold Revalued and Auctioned — Supreme Court Restores FIR Alleging Fraud by Bank Officials
The Supreme Court held that once the loan was settled, the subsequent revaluation and auction of the pledged gold raised serious doubts,...
5 hours ago3 min read
35 views
High Court Recalls Direction to Pay Interest on Auction Deposit Upon Disclosure of Suppressed Facts; Holds Remedy Lies Before DRT
The High Court recalled its earlier direction to pay interest on the auction deposit upon discovering that material facts had been...
1 day ago2 min read
52 views
NCLAT Sets Aside Adverse Observations Against Resolution Professional Misattributed from CoC Member’s Submissions
The NCLAT set aside the adverse observations made against the Resolution Professional, holding that they were incorrectly based on...
1 day ago3 min read
103 views
NCLAT Sets Aside NCLT Order and Restores Section 95 IBC Application Applying Supreme Court’s COVID-19 Limitation Exclusion
The NCLAT set aside the NCLT order and restored the Section 95 IBC application by applying the Supreme Court’s COVID-19 limitation...
2 days ago2 min read
42 views
Supreme Court Affirms Compliance of Resolution Plan with IBC – Declines Interference in Approved Judgment
The Supreme Court affirmed that the approved resolution plan was in compliance with the provisions of the Insolvency and Bankruptcy Code,...
2 days ago2 min read
77 views
NCLAT Sets Aside NCLT Order, Grants 90-Day Extension for CIRP Completion Citing Changed Circumstances and CoC Reconstitution
The National Company Law Appellate Tribunal (NCLAT) set aside the NCLT’s order and granted a 90-day extension for completion of the...
2 days ago3 min read
36 views
NCLAT Holds Adjudicating Authority Lacks Jurisdiction Over Customs Liability Disputes Under IBC Framework
The NCLAT held that the Adjudicating Authority lacks jurisdiction to adjudicate customs liability disputes under the framework of the...
2 days ago2 min read
37 views
NCLAT Rules Interest-Free Maintenance Security (IFMS) Not a Financial Debt: Rejects Section 7 IBC Plea
The NCLAT ruled that Interest-Free Maintenance Security (IFMS) is not a financial debt and rejected the Section 7 plea under the IBC. The...
3 days ago3 min read
30 views
Supreme Court Upholds NCLAT’s Rejection of Delayed Appeal in Company Restoration Case: Condonation Beyond Statutory Limit Not Permissible
The Supreme Court upheld the NCLAT’s rejection of a delayed appeal in a company restoration case, ruling that condonation of delay beyond...
3 days ago3 min read
29 views
IBC Application Under Section 9 Not Maintainable for Unagreed Interest Claims Based Solely on Invoice Clause
NCLAT held that an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, is not maintainable when the claim pertains...
4 days ago3 min read
75 views
NCLAT Upholds Resolution Plan Approved Within CIRP Timeline; Dissenting Unsecured Creditors Bound by CoC’s Commercial Wisdom
The NCLAT upheld the resolution plan approved within the CIRP timeline, ruling that dissenting unsecured creditors are bound by the...
4 days ago3 min read
36 views
Supreme Court Sets Aside CIRP Admission on Settlement; Affirms Corporate Debtor’s Obligation to Pay CIRP Costs
The Supreme Court set aside the admission of the Corporate Insolvency Resolution Process (CIRP) in light of a settlement between the...
4 days ago3 min read
151 views
NCLAT Upholds CIRP Extension: Dissenting Creditor Cannot Undermine CoC’s Commercial Wisdom and Revival Efforts
The NCLAT upheld the CIRP extension, holding that a dissenting creditor cannot override the commercial wisdom of the Committee of...
5 days ago3 min read
58 views
Essential Supply Protection under Section 14(2) IBC: Electricity Disconnection Prohibited During CIRP Moratorium Despite Non-Payment
NCLAT held that under Section 14(2) of the IBC, electricity as an essential supply cannot be disconnected during the CIRP moratorium...
5 days ago3 min read
48 views
Limitations on Condonation: NCLAT Clarifies Inapplicability of Holiday Exclusion to Discretionary Period under Section 61(2) IBC
The NCLAT clarified that the exclusion of holidays under the Limitation Act does not apply to the discretionary 15-day condonation period...
6 days ago4 min read
41 views
Calcutta High Court Upholds Employee’s Right to Full Gratuity Despite CIRP Approval; Declares Gratuity Outside Liquidation Estate Under IBC
The Calcutta High Court upheld the employee’s right to receive full gratuity despite the approval of the Resolution Plan under CIRP,...
6 days ago3 min read
83 views
Bombay High Court: Mortgage of Leasehold Industrial Property Without MIDC Consent Not Void; MIDC Lacks Power to Impose Subletting Charges
Bombay High Court held that the mortgage of leasehold industrial property without the prior consent of MIDC was not void, and further...
6 days ago3 min read
91 views
Supreme Court Upholds Mandatory Pre-Deposit for MSMED Act Appeals Despite Writ Invocation
The Supreme Court upheld the mandatory pre-deposit requirement under the MSMED Act for appeals, even when the party invoked the writ...
7 days ago3 min read
164 views
NCLAT Sets Aside NCLT’s Perjury Conviction: Holds Special Courts Have Exclusive Jurisdiction Under IBC
The NCLAT set aside the NCLT’s perjury conviction, holding that only Special Courts have exclusive jurisdiction to try offences under the...
Jun 44 min read
121 views
NCLAT Affirms Shareholders’ Absolute Right to Replace Voluntary Liquidator Without NCLT Intervention
The NCLAT affirmed that shareholders have the absolute right to replace a voluntary liquidator under Section 59 of the IBC without...
Jun 43 min read
92 views
Moratorium Under IBC Bars Section 138 NI Act Proceedings Against Corporate Debtor but Not Against Directors
The moratorium under the Insolvency and Bankruptcy Code bars proceedings under Section 138 of the Negotiable Instruments Act against the...
Jun 33 min read
77 views
Unauthorised Post-CIRP Transactions Held Void Under IBC Moratorium: NCLAT Upholds Refund Direction
NCLAT held that unauthorised post-CIRP transactions were void under the IBC moratorium and upheld the direction for refund to the...
Jun 33 min read
67 views
Arbitration in Loan Disputes: Limited Jurisdiction of Courts and Fraud Allegations Do Not Bar Reference Unless Arbitration Clause Is Vitiated
The High Court held that arbitration in loan disputes is not barred by fraud allegations or the limited jurisdiction of courts unless the...
Jun 23 min read
48 views
NCLAT Holds CoC Can Extend Timeline for EoIs and Resolution Plans Without Fresh Form-G, Affirms Commercial Wisdom in Approving Resolution Plan
The NCLAT held that the Committee of Creditors (CoC) is empowered to extend the timeline for submission of Expressions of Interest (EoIs)...
Jun 23 min read
83 views
Supreme Court Grants Interim Relief to Kalyani Transco, Stays NCLT Action Pending Review
The Supreme Court granted interim relief to Kalyani Transco and stayed the proceedings before the NCLT pending the filing and disposal of...
Jun 23 min read
71 views
Insolvency and Bankruptcy Code’s Transformational Impact: IIM Bangalore Study Reveals Stronger Credit Discipline, Lower Debt Costs, and Improved Corporate Governance
A recent research study titled Behavioural Impact of the Insolvency and Bankruptcy Code (IBC) Â conducted by the Indian Institute of...
Jun 22 min read
25 views
NCLAT Holds Refundable Fund Infusion as Financial Debt Under IBC Even Without Interest, Where Transaction Reflects Time Value of Money
The NCLAT held that a refundable fund infusion qualifies as financial debt under the IBC, even without interest, where the transaction...
Jun 13 min read
72 views
NCLAT Quashes CIRP: Pre-Existing Disputes Override Section 9 IBC Admission Against the Corporate Debtor
NCLAT quashed the initiation of CIRP against the Corporate Debtor, holding that pre-existing disputes barred the admission of a Section 9...
Jun 13 min read
48 views
Financial Creditor’s Control No Shield for Default: NCLAT Affirms CIRP Against Shree Vardhman Infraheights Despite PMC Oversight
NCLAT held that the financial creditor’s involvement and control through the Project Monitoring Committee (PMC) did not shield the...
Jun 13 min read
45 views
IBC Trigger Upheld Despite No Dues Certificate: NCLAT Affirms Balance Sheet Acknowledgement as Valid Debt Admission
NCLAT upheld the initiation of the Corporate Insolvency Resolution Process under the IBC despite the existence of a No Dues Certificate,...
May 313 min read
64 views
IBBI Notifies Fourth Amendment to CIRP Regulations, 2025: Enhancing Creditor Rights and Procedural Clarity
IBBI’s Fourth Amendment to CIRP Regulations, 2025 boosts transparency, flexibility, and creditor protection in insolvency resolution. On...
May 302 min read
123 views
Homebuyers' Dominance in CoC Does Not Override Statutory CIRP Framework Under IBC
NCLAT held that homebuyers' dominance in the Committee of Creditors does not override the statutory Corporate Insolvency Resolution...
May 303 min read
78 views
Supreme Court Upholds Mandatory Statutory Arbitration u/s 11 SARFAESI Act for Inter-Creditor Disputes Involving Priority of Charge Between Banks on the Same Secured Asset
The Supreme Court has upheld mandatory statutory arbitration under Section 11 of the SARFAESI Act for inter-creditor disputes involving...
May 293 min read
58 views
NCLAT Sets Aside NCLT Order; Reaffirms That Silence to Section 8 Notice Does Not Bar Proof of Pre-Existing Dispute Under IBC
The NCLAT set aside the NCLT’s order and reaffirmed that failure to respond to a Section 8 notice does not bar the Corporate Debtor from...
May 293 min read
56 views
NCLAT Strikes Down Non-Speaking Order on IRP Fees, Commands Detailed Justification and Prompt Reconsideration
The NCLAT set aside the non-speaking order on IRP fees and directed a detailed justification along with a prompt reconsideration of the...
May 283 min read
320 views
NCLAT Rules with Finality: Security Deposit Without Time Value of Money is Not Financial Debt Under IBC
The NCLAT has ruled with finality that a security deposit lacking the element of time value of money does not qualify as a financial debt...
May 283 min read
44 views
Streamlined Compliance in CIRP: Launch of Revised Reporting Framework and Forms by IBBI
The IBBI has introduced a simplified and consolidated reporting framework for CIRP, replacing nine existing forms with five new ones...
May 283 min read
62 views
NCLAT Quashes Contempt Conviction of Government Officials After Full Compliance and Unqualified Apology for Non-Wilful Breach of Liquidation Order
The NCLAT quashed the contempt conviction of government officials after they fully complied with the liquidation order and tendered an...
May 272 min read
71 views
IBC Recoveries Peak at 70% in Q4 FY2025 Amid Fewer Liquidations, but Resolution Delays and NCLT Bottlenecks Persist: ICRA
ICRA reports a record 70% recovery under the IBC in Q4 FY 2025 driven by large cases, even as resolution delays and NCLT inefficiencies...
May 272 min read
28 views
Essence of Contract, Forfeiture of Earnest Money, and Specific Pleadings in Enforcement of Sale Agreements: Supreme Court Ruling
The Supreme Court, in a recent ruling, examined the essence of contract, the forfeiture of earnest money, and the necessity of specific...
May 273 min read
101 views
NCLAT Affirms ‘Related Party’ Status Under IBC: Binding Utility Agreement Overrides Flawed Termination Claim
The NCLAT affirmed the 'related party' status of the Appellant under the IBC, holding that the binding Utility Operation and Management...
May 263 min read
65 views
NCLAT Upholds Validity of Going Concern Sale Under Amended Regulation 32A(4) and Affirms Clean Slate Protection for Successful Bidder
The NCLAT upheld the validity of the sale of the Corporate Debtor as a going concern conducted under the amended Regulation 32A(4) and...
May 263 min read
95 views
NCLAT Holds H1 Bidder Immunity Ceases When Only Two Bidders Remain in CIRP Bidding Process
The NCLAT held that the immunity granted to the H1 bidder under the Negotiation Process ceases to apply once only two bidders remain in...
May 263 min read
51 views
Assignment of Debt by Related Party After CIRP Commencement to Circumvent CoC Disqualification Is Invalid: NCLAT Dismisses Appeal
NCLAT held that the assignment of debt by a related party after the commencement of CIRP with the intention to circumvent...
May 253 min read
61 views
Belated and Resolved Disputes Do Not Bar CIRP Initiation Under Section 9 of IBC: NCLAT Clarifies
NCLAT clarified that belated and resolved disputes do not bar the initiation of the Corporate Insolvency Resolution Process (CIRP) under...
May 253 min read
31 views
NCLAT Affirms Absolute Extinguishment of Residual Liabilities Post Going Concern Sale Under IBC
NCLAT has affirmed the absolute extinguishment of residual liabilities following the sale of a corporate debtor as a going concern under...
May 253 min read
69 views
Delay in Filing Appeal Without Seeking Certified Copy Bars Relief Under IBC
NCLAT held that a delay in filing an appeal without seeking a certified copy of the impugned order bars relief under the IBC. The...
May 253 min read
49 views
NCLAT Upholds Exclusivity of CoC-Approved Resolution Plan, Rejects Promoter’s Attempt to Introduce Alternate Plan During Pending Approval
The NCLAT upheld the exclusivity of the resolution plan approved by the Committee of Creditors and rejected the promoter’s attempt to...
May 253 min read
1,860 views
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