The Appellate Tribunal held that delayed payment of confirmed auction consideration in liquidation attracts mandatory interest and bidders cannot seek exemption after accepting “as-is-where-is” sale conditions.

NCLAT, New Delhi upheld CIRP under Section 9 IBC, ruling that advance payment for undelivered goods constitutes operational debt, and the absence of pre-existing dispute validates insolvency proceedings.

Banks cannot enforce credit card recovery or impose charges where electronic transactions are disputed unless prior authorization is proven through verifiable and accountable authentication mechanisms.

Executing unsecured high-value transactions during ongoing insolvency, without reasonable expectation of recovery and contrary to commercial prudence, was held to constitute fraudulent and wrongful trading under Section 66 IBC.

The Supreme Court held that security-interest registration under Section 23 gives Section 26E priority over all dues, but provident fund liabilities legally retain first-charge status and must be discharged before allocation of sale proceeds to secured debt.