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Termination of Arbitration Proceedings Under Section 32(2) of the Arbitration Act Does Not Constitute a Binding Award—NCLT Has Jurisdiction Under IBC to Determine Corporate Debtor’s Rights Over Disput
NCLAT held that the termination of arbitration proceedings under Section 32(2) of the Arbitration & Conciliation Act, 1996, does not...
Feb 27, 20254 min read


Mere Pendency of SARFAESI Proceedings Does Not Establish Fraudulent Intent Under Section 65 of the IBC – NCLAT Sets Aside Rejection of Section 10 Application
NCLAT held that the mere pendency of SARFAESI proceedings does not establish fraudulent intent under Section 65 of the IBC and sets aside...
Feb 27, 20253 min read


MSMED Act Will Prevail Over Arbitration Act In Disputes Pertaining To A Party Which Is An MSME
The High Court held that in disputes involving an MSME, the provisions of the MSMED Act will override the Arbitration Act. On 24-02-2025,...
Feb 27, 20253 min read


Liquidator Cannot Invoke NCLT Jurisdiction Under Section 60(5) of IBC for Debt Recovery – NCLAT Upholds Refund of Margin Money
NCLAT held that the Liquidator cannot invoke NCLT jurisdiction under Section 60(5) of the IBC for debt recovery and upheld the refund of...
Feb 27, 20253 min read


Pre-CIRP Electricity Dues Stand Extinguished If Not Claimed During Resolution Process – NCLAT Upholds Primacy of IBC Over Electricity Act
NCLAT upheld the primacy of the IBC over the Electricity Act and ruled that pre-CIRP electricity dues stood extinguished as PSPCL had...
Feb 26, 20253 min read


IBC Limitation Period Begins from Date of Default – Pendency of Recovery Proceedings Does Not Extend Limitation
NCLAT held that the limitation period under the IBC began from the date of default and that the pendency of recovery proceedings does not...
Feb 25, 20253 min read


Section 10A of the IBC Does Not Apply When Default Occurred Prior to the Cut-Off Period, Irrespective of a Subsequent Recall Notice
NCLAT held that Section 10A of the IBC did not apply as the default had occurred prior to the cut-off period, irrespective of the...
Feb 25, 20253 min read


CoC Directed to Reconsider MSME Promoter’s Request for Relaxation in Eligibility Criteria Before Proceeding with CIRP
NCLAT directed the CoC to reconsider the MSME promoter’s request for relaxation in eligibility criteria before proceeding with the CIRP....
Feb 25, 20254 min read


NCLAT Upholds Personal Guarantor's Liability and Creditor’s Right to Initiate Insolvency Proceedings Under Section 95 of IBC Despite Assignment of Debt
The NCLAT upheld the Personal Guarantor's liability and the Creditor’s right to initiate insolvency proceedings under Section 95 of the...
Feb 24, 20253 min read


RBI Issues Draft Guidelines on Foreclosure Charges and Pre-Payment Penalties for Loans – Seeks Public Comments
The Reserve Bank of India (RBI) has released a draft circular inviting comments from stakeholders and the public on its proposed...
Feb 24, 20252 min read
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