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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 27, 20253 min read


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 26, 20253 min read


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 26, 20253 min read


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 26, 20253 min read


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 25, 20253 min read


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 25, 20253 min read


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 25, 20253 min read


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 25, 20253 min read


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 25, 20253 min read


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 25, 20253 min read
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