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Section 10A Bar Does Not Defeat Section 9 Proceedings When Pre-Suspension Defaults Independently Cross IBC Threshold: NCLAT
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.
7 days ago3 min read
IBC Reforms Losing Momentum as NCLT Backlog Mounts to 30,600 Cases, Economic Survey 2025–26 Warns
The Economic Survey 2025–26 flags serious concerns over delays at the NCLT, warning that mounting insolvency backlogs are diluting the effectiveness of the Insolvency and Bankruptcy Code.
Feb 33 min read
Joint Insolvency under Section 7 IBC Maintainable for Integrated Real Estate Projects; Threshold Tested on Date of Filing
The Supreme Court clarified that a joint Section 7 application by real estate allottees is maintainable when the statutory threshold is satisfied at the time of valid filing and default is established due to non-delivery of lawful possession.
Feb 34 min read
Section 32A IBC Overrides PMLA Attachment: Supreme Court Allows Partial Release of Attached Properties
The Supreme Court held that Section 32A IBC overrides PMLA attachment to enable restitution of properties to successful resolution applicants for protecting innocent home buyers, subject to statutory exceptions.
Dec 21, 20254 min read
IBC Is Not a Recovery Forum: CIRP Application Rejected Where Amount Claimed Was Paid in Full, Additional Interest Dismissed
The National Company Law Tribunal (NCLT) held that the Insolvency and Bankruptcy Code (IBC) is not a recovery forum, and rejected the...
Jul 16, 20253 min read
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