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Section 7 IBC Admission Mandatory Upon Default – Corporate Debtor’s Viability Irrelevant | Supreme Court
The Supreme Court reaffirmed that admission of a Section 7 insolvency application is mandatory once financial debt and default are established, and courts cannot examine the Corporate Debtor’s viability or settlement proposals rejected by the Committee of Creditors.
Feb 194 min read
B. Nirmal Kumar v. LIC HFL Trustee Company Private Limited and Others, REEDLAW 2025 NCLAT Chn 11532
Once default of the Corporate Debtor is finally adjudicated under Section 7 IBC, personal guarantors cannot reopen the issue to resist proceedings under Section 95 of the Code.
Feb 181 min read
Section 95 IBC Proceedings Against Personal Guarantors Valid Once Corporate Debtor Default Is Finalised
Once default of the Corporate Debtor is finally adjudicated under Section 7 IBC, personal guarantors cannot reopen the issue to resist proceedings under Section 95 of the Code.
Feb 173 min read
Pradeep Upadhyay Liquidator v. Bhadohi Industrial Development Authority (BIDA), REEDLAW 2025 NCLAT Del 11513
Termination of contracts grounded in pre-CIRP breaches and performance deficiencies is not protected by the moratorium under Section 14 IBC and falls outside NCLT’s residuary jurisdiction.
Feb 161 min read
Contract Termination for Pre-CIRP Breaches Not Barred by Section 14 Moratorium | NCLAT
Termination of contracts grounded in pre-CIRP breaches and performance deficiencies is not protected by the moratorium under Section 14 IBC and falls outside NCLT’s residuary jurisdiction.
Feb 163 min read
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