The NCLAT clarified that a liquidator cannot claim fixed monthly remuneration without CoC or SCC approval, holding that fees under Regulation 4 of the Liquidation Regulations are payable only upon actual asset realisation or distribution.

The NCLAT held that balance sheet entries and acknowledgments can establish financial debt for Section 7 IBC even in the absence of a formal loan agreement.

The NCLAT held that cryptic rejection of a Section 9 IBC application without notice or reasons is impermissible, and reasoned adjudication after hearing is mandatory.

The Supreme Court held that Section 32A IBC overrides PMLA attachment to enable restitution of properties to successful resolution applicants for protecting innocent home buyers, subject to statutory exceptions.

The NCLAT held that partial disbursement and valuation disputes are irrelevant once financial debt and default are proved, and admission of CIRP under Section 7 IBC is justified.

The Supreme Court held that the Central Registrar must be impleaded to decide a cooperative society’s eligibility as a resolution applicant under the IBC, and no final plan approval can be granted pending such determination.

NCLAT held that a Section 7 IBC application filed beyond three years from the date of default is time-barred, and pendency of DRT proceedings does not justify exclusion of time under Section 14 of the Limitation Act.

Delhi High Court held that a company under winding up is liable to bear the Official Liquidator’s security expenses, as directors’ verified statements and undertakings are binding.

NCLAT Chennai held that applications dismissed for non-prosecution cannot be revived after dissolution, as recall would amount to an impermissible review under the IBC.

The Bombay High Court held that ownership under SARFAESI transfers only upon issuance of a sale certificate, and an interim moratorium under Section 96 IBC bars completion of an auction sale.