NCLAT ruled that subsequent financial agreements cannot nullify existing corporate guarantees where sanction letters ensure their continuity, and insufficiency of stamp duty does not render a Section 7 IBC proceeding invalid.

NCLAT held that a Section 9 application under the IBC cannot proceed where a pre-existing dispute exists, including pending civil suits, and the Corporate Debtor’s notice of dispute bars the initiation of insolvency proceedings.

NCLAT ruled that a lease deed executed by unauthorised persons without consideration is invalid, and the Corporate Debtor cannot claim leasehold rights over the property for inclusion in the CIRP information memorandum.

NCLAT ruled that a bank cannot retain or adjust a Corporate Debtor’s Fixed Deposit towards the liabilities of a group company, holding that the general lien under Section 171 of the Contract Act applies only to debts of the same customer.

NCLAT held that a reconstituted Committee of Creditors cannot revisit or overturn the commercial approval granted by the original CoC to a resolution plan and must act strictly within the remand directions issued by the Adjudicating Authority under the IBC.

NCLAT upheld that inclusion of a strategic investor by an ARC does not breach Regulation 39(1B) and reaffirmed that an unsuccessful resolution applicant who accepted a refund cannot challenge the CoC-approved plan.

The NCLAT held that a statutory first charge under the Municipal Act qualifies as a “security interest” under the IBC, entitling municipal authorities to secured creditor status in liquidation proceedings.

The IBBI has mandated Insolvency Professionals to submit a standard undertaking before PMLA Special Courts when seeking restitution of ED-attached assets, aligning IBC and PMLA compliance frameworks for greater transparency and value realization.

The NCLAT held that an unsuccessful resolution applicant who did not submit a final plan during the challenge process has no locus to challenge the approved resolution plan, reiterating the sanctity of the Committee of Creditors’ commercial wisdom under the IBC.

The Delhi High Court directed that winding-up proceedings which have not reached an irreversible stage must be transferred to the NCLT under the Insolvency and Bankruptcy Code, 2016, to ensure effective resolution and value maximization.