NCLAT ruled that insolvency applications under Section 95 IBC cannot be mechanically admitted against personal guarantors and mandated an independent judicial assessment by the Adjudicating Authority.

The Supreme Court held that homebuyers with duly verified claims during CIRP cannot be treated as late claimants and are entitled to possession under the approved Resolution Plan.

NCLAT ruled that a purchaser who defaults on the agreed sale consideration cannot retain share certificates or subsidiary documents, reaffirming the RP’s authority under Sections 18 and 25 of the IBC to take custody of such assets.

NCLAT upheld that pre-existing contractual disputes bar Section 9 IBC petitions; both debt and default must be undisputed to trigger CIRP.

NCLAT affirmed that personal guarantees covering existing credit facilities are enforceable even without fresh disbursement, and pending recovery proceedings do not bar Section 95 insolvency action under the IBC.

NCLAT held that Adjudicating Authorities can grant ex-post facto approval for criminal complaints filed by liquidators against ex-management if necessary to protect the corporate debtor’s assets and connected to prior authorized proceedings.

Bank of Baroda has classified the loan accounts of Reliance Communications and Anil Ambani as fraudulent, citing forensic audit findings of irregularities and suspected fund diversion amid ongoing IBC proceedings and regulatory scrutiny.

Supreme Court affirms that NCLT can examine fraud and gift deed validity in oppression and mismanagement cases, overturning NCLAT’s restrictive interpretation.

NCLAT clarified that a non-obstante clause in a corporate guarantee capping liability does not bar the guarantor from paying default interest beyond the capped amount, reinforcing contractual obligations.

NCLAT ruled that refund of security deposit does not extend limitation under Section 19 of the Limitation Act; therefore, the Section 9 IBC application was time-barred.