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RBI Bans Pre-Payment Charges for MSEs and Individuals on Floating Rate Loans: A Major Push Towards Fair Lending and Borrower Mobility
In a major reform, the RBI eliminates pre-payment penalties on select floating rate loans for individuals and MSEs, empowering borrowers...
Jul 52 min read
RBI’s Deputy Governor Pushes for Real-Time Credit Reporting and Standardised Borrower IDs to Deepen Trust and Democratise Credit Access
RBI Deputy Governor M. Rajeshwar Rao urged Credit Information Companies to adopt real-time credit data reporting and implement...
Jul 42 min read
NCLAT Holds Discretion Under Section 7 Not Permissible Once Debt and Default Are Established; Sets Aside Rejection Based on Misapplication of Vidarbha
The NCLAT held that discretion under Section 7 of the IBC is not permissible once debt and default are established, and accordingly set...
Jul 34 min read
NCLAT Invokes Inherent Jurisdiction to Set Aside CIRP Admission Without Requiring Section 12A Withdrawal in Absence of Other Claims
The National Company Law Appellate Tribunal (NCLAT) invoked its inherent jurisdiction to set aside the admission of the Corporate...
Jul 33 min read
NCLAT Sets Aside Mechanical Rejection for Lack of Individual Assessment; Revives Allottee Claims for Fresh Consideration
The National Company Law Appellate Tribunal (NCLAT) set aside the mechanical rejection of claims for lack of individual assessment by the...
Jul 23 min read
Guarantors of Sole Proprietorship Firms Cannot Invoke Interim Moratorium Under Section 96 to Stall SARFAESI Proceedings
The Madhya Pradesh High Court held that guarantors of sole proprietorship firms cannot invoke the interim moratorium under Section 96 of...
Jul 23 min read
EPFO Bound by BIFR’s Final Rehabilitation Scheme: Tribunal Quashes Rejection of Section 14B Waiver
The Central Government Industrial Tribunal (CGITLC) held that the Employees’ Provident Fund Organisation (EPFO) is bound by the final...
Jul 23 min read
NCLAT Sets Aside Rejection of Homebuyer’s Claim Based on Cash Payment Dispute, Upholds Evidentiary Value of Settlement and Allotment Documents
The NCLAT set aside the rejection of the homebuyer’s claim based on a cash payment dispute and upheld the evidentiary value of the...
Jul 13 min read
High Court Rules Interim Moratorium Under IBC Inapplicable to Guarantors of Sole Proprietorship Firms
The High Court ruled that the interim moratorium under the Insolvency and Bankruptcy Code (IBC) is inapplicable to guarantors of sole...
Jul 13 min read
CoC Barred from Recalling Resolution Plan Once Submitted for Approval Under IBC Framework
NCLAT held that the Committee of Creditors (CoC) is barred from recalling or remitting a resolution plan once it has been submitted to...
Jul 13 min read
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