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Banks Can Initiate Proceedings Under SARFAESI Act If Not a Party to the Resolution Plan
The High Court ruled that banks could initiate proceedings under the SARFAESI Act if they were not a party to the resolution plan. The...
Mar 5, 20253 min read


Invocation of Guarantee is a Mandatory Pre-Condition for Initiating Insolvency Proceedings Against a Personal Guarantor Under Section 95 of the IBC
NCLAT ruled that the invocation of a guarantee is a mandatory pre-condition for initiating insolvency proceedings against a personal...
Mar 5, 20253 min read


Borrower Not a 'Consumer' If Loan Is for Profit-Making, Complaint Against Bank Not Maintainable
The Supreme Court rules that a borrower is not a 'consumer' if the loan is taken for profit-making purposes, making a complaint against...
Mar 2, 20253 min read


Allegations of Mismanagement or Shareholding Disputes Cannot Hinder Admission of Section 7 Application if Debt Acknowledgment and Default Are Established
NCLAT held that allegations of mismanagement or shareholding disputes cannot hinder the admission of a Section 7 application if debt...
Mar 2, 20254 min read


Withdrawal of CIRP Under Section 12A Constitutes Full and Final Settlement, Rendering Deposited Amount Non-Refundable Except Where No Forfeiture Clause Exists
NCLAT held that the withdrawal of CIRP under Section 12A constitutes a full and final settlement, rendering the deposited amount...
Mar 2, 20253 min read


NCLAT Holds Section 7 Application Barred by Limitation as Cause of Action Arose Upon Agreement Expiry, and Acknowledges Debt Repayment by Corporate Debtor
NCLAT held that the Section 7 application was barred by limitation as the cause of action arose upon the expiry of the agreement and...
Mar 2, 20254 min read


NCLAT Upholds Exclusion of Related Party from CoC, Affirms RP’s Authority Under Section 5(24) of IBC
NCLAT upheld the exclusion of a related party from the CoC and affirmed the RP’s authority under Section 5(24) of the IBC. The National...
Mar 2, 20254 min read


NCLAT Upholds IBC Supremacy Over TRAI Act, Declares Financial Disincentives as Operational Debt, and Rejects Trust Claim on Subscriber Deposits During CIRP
The NCLAT upheld the supremacy of the IBC over the TRAI Act, ruled that financial disincentives constituted operational debt, and...
Mar 1, 20254 min read


Moratorium Under Section 14(1)(d) Bars Recovery of Property Occupied by the Corporate Debtor
NCLAT ruled that the moratorium under Section 14(1)(d) bars the recovery of property occupied by the Corporate Debtor. The National...
Feb 28, 20253 min read


Unconditional Withdrawal of Arbitration Petition Bars Fresh Filing; IBC Proceedings Do Not Justify Exclusion Under Section 14 of the Limitation Act
The Supreme Court ruled that the unconditional withdrawal of an arbitration petition bars fresh filing and held that IBC proceedings do...
Feb 28, 20253 min read
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