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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
IBC Reforms Losing Momentum as NCLT Backlog Mounts to 30,600 Cases, Economic Survey 2025–26 Warns
The Economic Survey 2025–26 flags serious concerns over delays at the NCLT, warning that mounting insolvency backlogs are diluting the effectiveness of the Insolvency and Bankruptcy Code.
6 days ago3 min read
Satinder Singh Bhasin v. Col. Gautam Mullick and Others, REEDLAW 2026 SC 01582
The Supreme Court clarified that a joint Section 7 application by real estate allottees is maintainable when the statutory threshold is satisfied at the time of valid filing and default is established due to non-delivery of lawful possession.
6 days ago1 min read
Joint Insolvency under Section 7 IBC Maintainable for Integrated Real Estate Projects; Threshold Tested on Date of Filing
The Supreme Court clarified that a joint Section 7 application by real estate allottees is maintainable when the statutory threshold is satisfied at the time of valid filing and default is established due to non-delivery of lawful possession.
6 days ago4 min read
Angle Infrastructure Private Limited v. Directorate of Enforcement, REEDLAW 2025 Del 11579
The Delhi High Court restrained coercive attachment action by the Enforcement Directorate during CIRP without court permission, holding that such action may undermine the insolvency resolution process.
7 days ago1 min read
ED Attachment During CIRP Requires Court Leave Where Action May Jeopardise Resolution Process
The Delhi High Court restrained coercive attachment action by the Enforcement Directorate during CIRP without court permission, holding that such action may undermine the insolvency resolution process.
7 days ago3 min read
Kewal Krishan Sharma v. Navneet Gupta, Resolution Professional, REEDLAW 2025 NCLAT Del 11510
The NCLAT affirmed that financial default is triggered on expiry of contractual cure periods, and Section 10A protection does not cover defaults prior to 25 March 2020, upholding the NCLT’s CIRP admission.
7 days ago1 min read
Default Occurs on Expiry of Contractual Cure Period; Section 10A Cannot Shield Pre-25 March 2020 Defaults
The NCLAT affirmed that financial default is triggered on expiry of contractual cure periods, and Section 10A protection does not cover defaults prior to 25 March 2020, upholding the NCLT’s CIRP admission.
7 days ago4 min read
Viney Kumar Sharma v. Improvement Trust and Another, REEDLAW 2026 SC 01006
The Supreme Court held that non-disclosure of litigation by a state authority during a public auction vitiates the sale and mandated refund of the deposited amount with 9% interest, affirming transparency and restitution principles.
Feb 11 min read
Failure to Disclose All Known Encumbrances in Public Auction Vitiates Sale and Entitles Purchaser to Refund with Interest
The Supreme Court held that non-disclosure of litigation by a state authority during a public auction vitiates the sale and mandated refund of the deposited amount with 9% interest, affirming transparency and restitution principles.
Jan 314 min read
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