The IBBI has proposed sweeping reforms to standardise valuation practices under the IBC, including uniform reporting formats, harmonised standards, recognition of intangibles and synergies, and a streamlined valuer appointment system.

The Allahabad High Court held that disputes relating to the restoration of a cancelled lease essential for the Corporate Debtor’s resolution process fall within the NCLT’s exclusive jurisdiction under Section 60(5) of the IBC, rendering writ challenges non-maintainable.

The Gujarat High Court ruled that possession disputes during liquidation fall exclusively under the NCLT’s jurisdiction and writ petitions against such orders are non-maintainable.

The Bombay High Court ruled that consumer or recovery proceedings initiated during the IBC moratorium are void once a resolution plan is approved under Section 31 of the Code.

NCLAT clarified that a mere request for pass over cannot be treated as waiver of oral hearing and directed that the principles of natural justice must be strictly upheld in adjudicatory proceedings.

NCLAT ruled that the Adjudicating Authority cannot intervene in a CoC-approved sale under Regulation 29 of the CIRP Regulations when the sale process complies with the IBC framework and reflects the CoC’s commercial wisdom.

NCLAT held that EPFO claims arising during CIRP moratorium under Section 14 IBC are unenforceable and cannot be admitted against the Corporate Debtor.

NCLAT ruled that a suspended director has no locus during CIRP and clarified that moratorium under Section 14 IBC does not bar the Adjudicating Authority from allowing arbitral counterclaims.

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.