The Supreme Court restored a conviction in a cheque dishonour case, holding that statutory presumptions under Sections 118 and 139 NI Act remain unless rebutted with credible evidence, and financial capacity allegations cannot defeat enforceability.

The Supreme Court held that a bank-conducted auction of leasehold property without disclosure of the lessor’s statutory dues and mandatory consents is void, directing a refund to the purchaser under Rule 53 of the Income Tax Act read with Section 29 of the Recovery of Debts and Bankruptcy Act.

NCLAT held that a Resolution Professional may terminate leave and licence agreements with one-month notice under Section 60(5) IBC and that the Adjudicating Authority may order eviction and recovery of dues despite objections under the Maharashtra Rent Control Act.

NCLAT held that illegal possession of corporate debtor assets does not prevent initiation of CIRP, and a Financial Creditor’s Section 7 application remains maintainable despite partial payments or asset occupation by others.

NCLAT ruled that Section 9 IBC applications cannot be maintained for defaults during the Section 10A suspension period and that Adjudicating Authorities lack power to modify default dates without a formal amendment by the applicant.

NCLAT ruled that the Adjudicating Authority cannot replace a Resolution Professional as liquidator without a specific IBBI recommendation, and a general advisory letter cannot serve as valid grounds for such action.

NCLAT ruled that EPFO’s delayed provident fund claim, initiated during the IBC moratorium without a valid Section 7A order, was unenforceable and refused to allow modification of the approved resolution plan to include such claims.

Karnataka High Court ruled that a Magistrate exercising powers under Section 14 SARFAESI acts ministerially and cannot impose conditions protecting third-party possession; such claims lie before the DRT under Section 17.

Delhi High Court ruled that an Insolvency Professional breaching IBC norms through excess fees, unapproved outsourcing, and delayed filings faces disciplinary suspension and recovery of improper payments.

NCLAT Chennai ruled that under Section 33(2) of the IBC, the Committee of Creditors’ decision to liquidate is conclusive and beyond judicial review after liquidation and creation of third-party rights.