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Appeal Against Admission of Insolvency Proceedings Against Personal Guarantors Maintainable Under Section 61 of the IBC
NCLAT held that an appeal against the admission of insolvency proceedings initiated against personal guarantors of a corporate debtor is...
Apr 4, 20253 min read
NCLAT Upholds Distribution Based on Security Interest Over Voting Share; CoC’s Commercial Wisdom Prevails
NCLAT upheld the distribution mechanism based on security interest over voting share, emphasizing that the CoC’s commercial wisdom...
Apr 3, 20254 min read
IBBI Mandates Exclusive Use of Baanknet Auction Platform for Liquidation Process
The Insolvency and Bankruptcy Board of India (IBBI), through its Circular No. IBBI/LIQ/84/2025, dated 28th March 2025, has made it...
Apr 3, 20252 min read
Supreme Court Upholds Creditor Rights in Avoidance Recoveries and Reinforces CoC's Commercial Primacy Under IBC
In a landmark judgment, the Supreme Court upheld creditor rights in avoidance recoveries and reinforced the commercial primacy of the CoC...
Apr 3, 20253 min read
Supreme Court Reaffirms Statutory Presumption Under NI Act – Mere Denial by Accused Insufficient to Rebut Liability
The Supreme Court reaffirmed the statutory presumption under the Negotiable Instruments Act, holding that mere denial by the accused was...
Apr 3, 20253 min read
NCLAT Upholds Pro-Rata Distribution of Liquidation Proceeds Under Section 53(1) of IBC, Rejects Security Interest-Based Allocation
The NCLAT upheld the pro-rata distribution of liquidation proceeds under Section 53(1) of the Insolvency and Bankruptcy Code (IBC) and...
Apr 2, 20254 min read
Wilful Defaulter Classification Must Adhere to Principles of Natural Justice – High Court Strikes Down Arbitrary Declaration Based on a Discredited Audit Report
The High Court ruled that the classification of a wilful defaulter must adhere to the principles of natural justice and struck down the...
Apr 2, 20254 min read
Corporate Debtor Cannot Deny Liability as Co-Borrower and Corporate Guarantor When Evidenced by Loan Agreements, Financial Records, and Prior Admissions
NCLAT held that the Corporate Debtor cannot deny its liability as a co-borrower and corporate guarantor when such obligations are...
Apr 2, 20253 min read
Tripartite Agreement Creating Direct Repayment Obligation on Corporate Debtor Qualifies Lending Bank as a Financial Creditor Under the IBC
NCLAT held that a tripartite agreement creating a direct repayment obligation on the Corporate Debtor qualifies the lending bank as a...
Apr 2, 20254 min read
Appellate Tribunal Directs NCLT to Re-examine Section 7 Application with Due Consideration of Evidence and Facts
The Appellate Tribunal has directed the NCLT to re-examine the Section 7 application, giving due consideration to the evidence and facts...
Apr 1, 20253 min read
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