NCLAT reiterates that a substantiated pre-existing dispute bars CIRP initiation under Section 9 of the IBC, even where the operational debt exceeds the statutory threshold.

NCLAT held that foreign travel permission in bankruptcy proceedings cannot be granted once the underlying contract expires and the relief becomes infructuous.

NCLAT held that foreign travel permission in bankruptcy proceedings cannot be granted once the underlying contract expires and the relief becomes infructuous.

Supreme Court holds IBC cannot be used as a recovery tool to enforce decrees where the corporate debtor is solvent and the debt remains disputed.

Supreme Court holds IBC cannot be used as a recovery tool to enforce decrees where the corporate debtor is solvent and the debt remains disputed.

NCLAT held that operational creditors cannot challenge valuation or claim issues after resolution plan approval if not contested during CIRP.

NCLAT held that operational creditors cannot challenge valuation or claim issues after resolution plan approval if not contested during CIRP.

NCLAT held that CoC-approved resolution plans may be rejected where CIRP lacks transparency and violates statutory provisions, particularly regarding avoidance transactions.

NCLAT held that CoC-approved resolution plans may be rejected where CIRP lacks transparency and violates statutory provisions, particularly regarding avoidance transactions.

NCLAT reiterates that once debt and default are established, Section 7 admission is mandatory and viability or RBI framework objections cannot defeat CIRP initiation.