The Supreme Court directed that a pending IBC appeal be transferred from the NCLAT Chennai Bench to the NCLAT Principal Bench to ensure fair adjudication, clarifying that allegations of attempted judicial influence would be addressed separately at the administrative level by the Chief Justice of India.

The NCLAT ruled that the statutory first charge created under Section 48 of the GVAT Act constitutes a security interest under the IBC, entitling the State Tax Department to priority distribution for undistributed amounts even after approval of the resolution plan.

The IBBI has proposed sweeping reforms to standardise valuation practices under the IBC, including uniform reporting formats, harmonised standards, recognition of intangibles and synergies, and a streamlined valuer appointment system.

The Allahabad High Court held that disputes relating to the restoration of a cancelled lease essential for the Corporate Debtor’s resolution process fall within the NCLT’s exclusive jurisdiction under Section 60(5) of the IBC, rendering writ challenges non-maintainable.

The Gujarat High Court ruled that possession disputes during liquidation fall exclusively under the NCLT’s jurisdiction and writ petitions against such orders are non-maintainable.