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Leasehold Rights Transferred by Amalgamation Constitute Liquidation Estate Assets under IBC
The NCLAT held that leasehold rights vested in a Corporate Debtor constitute intangible assets forming part of the liquidation estate under the IBC and may be validly controlled and sold by the Liquidator despite ownership of land vesting with the lessor.
2 hours ago3 min read
Violation of Companies Act Deposit Provisions Cannot Defeat Section 7 IBC Proceedings Where Financial Debt Is Established
The NCLAT held that violation of deposit provisions under the Companies Act does not render an interest-bearing loan unenforceable or bar insolvency proceedings under Section 7 of the IBC.
16 hours ago3 min read
EAS Sarma v. Union of India and Others, REEDLAW 2026 SC 01590
The Supreme Court expressed grave concern over the misuse of the Insolvency and Bankruptcy Code through systematic asset undervaluation and pre-planned resolution processes, warning against insolvency becoming a shield for legitimising financial fraud.
4 days ago1 min read
Misuse of IBC Through Asset Undervaluation and Pre-Planned Auctions: Supreme Court Flags Systemic Abuse and Bank Collusion
The Supreme Court expressed grave concern over the misuse of the Insolvency and Bankruptcy Code through systematic asset undervaluation and pre-planned resolution processes, warning against insolvency becoming a shield for legitimising financial fraud.
4 days ago4 min read
Redpro Construction Private Limited v. Skyline Infratech Private Limited, REEDLAW 2025 NCLAT Del 11553
NCLAT ruled that exclusion of a solitary invoice falling within the Section 10A suspension period does not bar initiation of Section 9 proceedings when remaining operational defaults arose outside the prohibited period.
5 days ago1 min read
Section 10A Bar Does Not Defeat Section 9 Proceedings When Pre-Suspension Defaults Independently Cross IBC Threshold: NCLAT
NCLAT ruled that exclusion of a solitary invoice falling within the Section 10A suspension period does not bar initiation of Section 9 proceedings when remaining operational defaults arose outside the prohibited period.
5 days ago3 min read
Anitha Rayapati and Others v. Arcelor Mittal Nippon Steel India Private Limited and Others, REEDLAW 2026 SC 01544
The Supreme Court held that transfer of insolvency proceedings cannot be granted merely on allegations against tribunal members, reaffirming institutional independence and limits on supervisory interference.
5 days ago1 min read
Transfer of NCLT Proceedings Cannot Be Sought on Alleged Adverse Observations by Tribunal Members: Supreme Court
The Supreme Court held that insolvency proceedings cannot be transferred merely on speculative allegations against tribunal members, reaffirming judicial discipline and institutional independence.
5 days ago3 min read
IFCI Limited v. Raju Palanikunnathil Kesavan, RP and Another, REEDLAW 2025 NCLAT Del 11517
The NCLAT held that a resolution plan approved without complete disclosure and valuation of all assets, including development rights and third-party secured interests, suffers from material irregularity in the conduct of the CIRP and cannot be sustained merely on the basis of Committee of Creditors’ approval.
5 days ago1 min read
Non-Disclosure and Non-Valuation of Assets Vitiate CIRP Despite CoC Approval: NCLAT
The NCLAT held that a resolution plan approved without complete disclosure and valuation of all assets, including development rights and third-party secured interests, suffers from material irregularity in the conduct of the CIRP and cannot be sustained merely on the basis of Committee of Creditors’ approval.
6 days ago3 min read
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