NCLAT held that once CoC is constituted, CIRP withdrawal must comply with Section 12A read with Regulation 30A(1)(b), requiring 90% CoC approval—pre-CoC settlements cannot override this requirement.

NCLAT held that a financial debt can be recognized under IBC based on substance and evidence of lending, even without a formal loan agreement or sanction letter.

NCLAT ruled that Provident Fund claims filed after CoC approval cannot be entertained under IBC, emphasizing the clean slate principle and the finality of approved Resolution Plans.

NCLAT New Delhi ruled that an order admitting a Corporate Debtor to CIRP without granting a fair hearing must be set aside, and any subsequent settlement must comply with the Insolvency and Bankruptcy Code’s procedural safeguards.

NCLAT New Delhi held that a Section 9 IBC application must exceed the financial threshold excluding interest, and unsupported interest claims are not recoverable, rendering such petitions non-maintainable regardless of limitation.

NCLAT New Delhi ruled that Financial Creditor status under IBC requires documentary proof of disbursement, and claims not admitted before resolution plan approval cannot be reopened, upholding finality in the insolvency process.

NCLAT ruled that CIRP claims must be backed by valid documents and timely submitted, and agreements by disqualified directors or sister concerns lacking privity are unenforceable, thereby upholding the sanctity of the resolution plan.

The NCLAT, New Delhi, held that once the CIRP period expires without an approved resolution plan, the Resolution Professional is empowered to file for liquidation with the Committee of Creditors’ consent, and the CoC’s commercial wisdom—including abstention from voting—remains beyond judicial review under the IBC framework.

RBI’s 15-day banking rule mandates all banks to process key requests and claim settlements within 15 calendar days, strengthening transparency, accountability, and customer trust.

NCLAT held that Section 14 of the Limitation Act cannot be applied to extend limitation for a Section 7 IBC application where prior DRT proceedings were validly instituted, rendering such applications time-barred.