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 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.

The Supreme Court clarified that the NCLT has no jurisdiction under Section 60(5)(c) of the Insolvency and Bankruptcy Code, 2016 to adjudicate trademark ownership or disputed intellectual property rights outside the CIRP. It was held that transactions cannot be invalidated without a specific statutory avoidance application and that any declaration beyond an approved resolution plan amounts to an impermissible judicial modification, reaffirming the limited and insolvency-centr

The Supreme Court held that once insolvency begins, the IRP alone represents the Corporate Debtor in criminal cases, barred parallel proceedings, and protected the accused from custodial detention after filing of the charge sheet.

The National Company Law Tribunal (NCLT) held that the Insolvency and Bankruptcy Code (IBC) is not a recovery forum, and rejected the...

The National Company Law Appellate Tribunal (NCLAT) declined to entertain the appeal, observing that the matter concerning the admission...