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NCLAT Rules Interest-Free Maintenance Security (IFMS) Not a Financial Debt: Rejects Section 7 IBC Plea
The NCLAT ruled that Interest-Free Maintenance Security (IFMS) is not a financial debt and rejected the Section 7 plea under the IBC. The...
Jun 83 min read
Supreme Court Upholds NCLAT’s Rejection of Delayed Appeal in Company Restoration Case: Condonation Beyond Statutory Limit Not Permissible
The Supreme Court upheld the NCLAT’s rejection of a delayed appeal in a company restoration case, ruling that condonation of delay beyond...
Jun 83 min read
IBC Application Under Section 9 Not Maintainable for Unagreed Interest Claims Based Solely on Invoice Clause
NCLAT held that an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, is not maintainable when the claim pertains...
Jun 73 min read
NCLAT Upholds Resolution Plan Approved Within CIRP Timeline; Dissenting Unsecured Creditors Bound by CoC’s Commercial Wisdom
The NCLAT upheld the resolution plan approved within the CIRP timeline, ruling that dissenting unsecured creditors are bound by the...
Jun 73 min read
Supreme Court Sets Aside CIRP Admission on Settlement; Affirms Corporate Debtor’s Obligation to Pay CIRP Costs
The Supreme Court set aside the admission of the Corporate Insolvency Resolution Process (CIRP) in light of a settlement between the...
Jun 73 min read
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