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Approval of Resolution Plan by NCLT Affirms Primacy of CoC’s Commercial Wisdom and Compliance with Section 30(2) of the IBC
The NCLT approved the resolution plan, affirming the primacy of the CoC's commercial wisdom and ensuring compliance with Section 30(2) of...
Oct 27, 20243 min read


Free Copy of Order Insufficient to Extend Limitation: Supreme Court Clarifies Certified Copy Requirement for IBC Appeals
The Supreme Court clarified the certified copy requirement for appeals under the IBC, ruling that a free copy is not sufficient to extend...
Oct 27, 20243 min read


High Court Declines Jurisdiction to Intervene in CoC' Decision-Making in CIRP, Upholding Commercial Wisdom and NCLT Oversight
The High Court declined jurisdiction to intervene in the Committee of Creditors' decision-making during the Corporate Insolvency...
Oct 26, 20243 min read


NCLAT Clarifies CoC's Authority to Evaluate Resolution Plans and Settlement Proposals, Asserting No Stay on CIRP by the Supreme Court
The NCLAT clarified that the CoC holds the authority to evaluate resolution plans and settlement proposals, emphasizing that the Supreme...
Oct 26, 20243 min read


NCLAT Reaffirms Integrity of Approved Resolution Plans: No Modifications Post-Approval
NCLAT reaffirmed the integrity of approved resolution plans, stating that no modifications should be made after approval. The National...
Oct 25, 20243 min read


Commercial Wisdom of the CoC Prevails: NCLAT Upholds Resolution Plan Amid Dissent
The NCLAT upheld the resolution plan amid dissent, emphasizing that the commercial wisdom of creditors prevails in the decision-making...
Oct 25, 20243 min read


Supreme Court Sets Aside NCLAT Approved Settlement for Bypassing Section 12A of the IBC and Improper Invocation of Rule 11 of NCLAT Rules
The Supreme Court set aside the NCLAT-approved settlement due to its circumvention of Section 12A of the Insolvency and Bankruptcy Code...
Oct 25, 20243 min read


NCLAT Affirms Exclusion of Unsecured Creditors from CoC, Holding Loan Disbursed to SPV Does Not Constitute Financial Debt
The NCLAT affirmed the exclusion of unsecured creditors from the CoC, holding that the loan disbursed to the SPV did not constitute...
Oct 25, 20243 min read


Supreme Court Upholds Validity of Debt Acknowledgments in Financial Statements, Affirming Timeliness of Insolvency Proceedings under IBC
The Supreme Court upheld the validity of debt acknowledgements in financial statements, affirming the timeliness of insolvency...
Oct 24, 20243 min read


Section 9 Application Dismissed as Debt Falls Below Statutory Threshold and Includes Defaults Barred Under Section 10A of the IBC
The Section 9 application was dismissed as the debt fell below the statutory threshold and included defaults barred under Section 10A of...
Oct 24, 20243 min read
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