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Uday J. Desai v. Bank of India and Another, REEDLAW 2026 NCLAT Del 02639
NCLAT reiterates that once debt and default are established, Section 7 admission is mandatory and viability or RBI framework objections cannot defeat CIRP initiation.
Mar 21 min read
Section 7 IBC – RBI Framework or Prior Dismissal No Bar to Admission | NCLAT
NCLAT reiterates that once debt and default are established, Section 7 admission is mandatory and viability or RBI framework objections cannot defeat CIRP initiation.
Mar 23 min read
Catalyst Trusteeship Limited v. Ecstasy Realty Private Limited, REEDLAW 2026 SC 02629
The Supreme Court held that pending or informal restructuring negotiations do not prevent admission of a Section 7 IBC application when financial debt and default are established in accordance with the Debenture Trust Deed.
Feb 271 min read
Section 7 IBC Cannot Be Defeated by Pending or Informal Restructuring Absent Written Amendment of Debenture Trust Deed
The Supreme Court held that pending or informal restructuring negotiations do not prevent admission of a Section 7 IBC application when financial debt and default are established in accordance with the Debenture Trust Deed.
Feb 263 min read
Power Trust v. Bhuvan Madan, Interim Resolution Professional of Hiranmaye Energy Ltd and Others, REEDLAW 2026 SC 02571
The Supreme Court reaffirmed that admission of a Section 7 insolvency application is mandatory once financial debt and default are established, and courts cannot examine the Corporate Debtor’s viability or settlement proposals rejected by the Committee of Creditors.
Feb 201 min read
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