NCLAT ruled that exclusion of a solitary invoice falling within the Section 10A suspension period does not bar initiation of Section 9 proceedings when remaining operational defaults arose outside the prohibited period.

NCLAT ruled that exclusion of a solitary invoice falling within the Section 10A suspension period does not bar initiation of Section 9 proceedings when remaining operational defaults arose outside the prohibited period.

The Supreme Court held that transfer of insolvency proceedings cannot be granted merely on allegations against tribunal members, reaffirming institutional independence and limits on supervisory interference.

The Supreme Court held that insolvency proceedings cannot be transferred merely on speculative allegations against tribunal members, reaffirming judicial discipline and institutional independence.

The NCLAT held that a resolution plan approved without complete disclosure and valuation of all assets, including development rights and third-party secured interests, suffers from material irregularity in the conduct of the CIRP and cannot be sustained merely on the basis of Committee of Creditors’ approval.