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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...
5 hours ago3 min read
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...
1 day ago3 min read
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...
1 day ago3 min read
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...
2 days ago3 min read
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...
2 days ago3 min read
NCLAT Upholds Validity of Right of First Refusal (RoFR) Granted to Anchor Bidder Under Swiss Challenge Mechanism in Liquidation Process
The NCLAT upheld the validity of granting the Right of First Refusal to the anchor bidder under the Swiss Challenge Mechanism in the...
2 days ago3 min read
NCLAT Invalidates CIRP Initiation Due to Non-Compliance with Debenture Trust Deed and Limitation Bar
The NCLAT invalidated the initiation of the Corporate Insolvency Resolution Process (CIRP) due to non-compliance with the Debenture Trust...
3 days ago3 min read
Extinguishment of Pre-CIRP Claims Post Resolution Plan Approval: DVC Barred from Recovery Beyond Plan Allocation
NCLAT held that upon approval of the Resolution Plan, all pre-CIRP claims stood extinguished, thereby barring DVC from recovering any...
4 days ago3 min read
Threshold for Section 9 IBC Application to Be Determined on Date of Filing, Not Admission: NCLAT
NCLAT held that the threshold for a Section 9 application under the Insolvency and Bankruptcy Code, 2016, must be determined on the date...
6 days ago3 min read
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
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