Category: bankruptcy
Once Committee of Creditors in its commercial wisdom, decides to reject the Resolution Plan and liquidate the Corporate Debtor on account of the SRA default, there can be no interference. In a recent judgment, Supreme Court has held that once the Committee of Creditors (CoC) in its commercial …
Supreme Court refers the question of applicability of moratorium under IBC on proceedings u/s 138 of the NI Act to Chief Justice for constitution of a larger bench In a recent judgment, Hon’ble Supreme Court has held that moratorium provisions under Part III of the IBC cannot be …
Corporate guarantees executed by the corporate debtor constitute “financial debt” under IBC and banks to be recognized as financial creditors – Supreme Court In a recent judgment, Hon’ble Supreme Court has held that the corporate guarantees executed by the corporate debtor constitute “financial debt” within the meaning of …
When IBC proceedings are used for as recovery mechanism, it amounts to an abuse of the insolvency process – Supreme Court In a recent judgment, Hon’ble Supreme Court upheld that when IBC proceedings are used for as recovery mechanism, it amounts to an abuse of the insolvency process …
Court can not sit over comparative financial attractiveness of rival offers or to substitute its own view for the decision taken by the CoC in IBC In a recent judgment, Hon’ble Supreme Court has held that it cannot be called upon to sit over the comparative financial attractiveness …
Supreme Court allows simultaneous CIRP proceedings against principal debtor and its corporate guarantor, declines to frame any guidelines In a recent judgment, the Hon’ble Supreme Court allowed appeals against order of Adjudicating Authorities (NCLT/NCLAT) holding that simultaneous proceedings for Corporate Insolvency Resolution Process under IBC against the principal …
Under IBC, Adjudicating Authority not required to go into the inability of a corporate debtor to pay its debt – Supreme Court In a recent judgment, Hon’ble Supreme Court has held that under IBC, NCLT is not required to go into the inability of a corporate debtor to …
Spectrum allocated to TSPs and shown in books of account as asset cannot be subjected to proceedings under IBC, 2016. In a recent judgment, Hon’ble Supreme Court has held that spectrum allocated to Telecom Service Provider (TSP) and shown in their books of account as an “asset” cannot …
Supreme Court issues directions to Committee of Creditors for safeguard interests of homebuyers in Insolvency proceedings In a recent judgment, Supreme Court has issued directions to Committee of Creditors for safeguard interests of homebuyers in Insolvency proceedings against the Builder/Real Estate developer Corporate Debtor ABCAUS Case Law Citation:4994 …
Every resolution plan to include a statement of beneficial-ownership of all natural persons who ultimately owns or controls the resolution applicant Insolvency and Bankruptcy Board of India Notification New Delhi, the 22nd December, 2025 Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Seventh Amendment) …
