IBC Archives

Case Briefs Tribunals/Commissions/Regulatory Bodies

In case of an application being filed under S.7 of IBC, will insufficiency of stamp duty be looked into? NCLT decides

National Company Law Tribunal, Mumbai: The Coram of H.V. Subba Rao, Judicial Member addressed the relevancy of insufficiency of stamp duty under

Case Briefs Supreme Court

“Debt arising out of advance payment for supply of goods or services is an operational debt”; SC allows operational creditor to initiate CIRP

Supreme Court: While dealing with a case involving two controversial terms; “operational debt” and “operational creditor” of IBC, the 3-judge Bench of

Case Briefs Supreme Court

IBC Amendment, 2018; Supreme Court elaborates conditions for disqualification of Resolution Professional under S. 29A(h) of IBC

Supreme Court: In a case were the Division Bench of Sanjay Kishan Kaul and M.M. Sundresh*, JJ., was sought to provide judicial

Case Briefs High Courts

Whether proceedings under Ss. 138 and 141 of NI Act can be initiated against corporate debtor during moratorium period? Madras HC answers

Madras High Court: N. Sathish Kumar, J., while addressing a matter with regard to the dishonour of cheques under Section 138 of

Case Briefs Tribunals/Commissions/Regulatory Bodies

EPC Construction Resolution: NCLAT allows distribution of Rs 223 crores from available cash balance among creditors and lenders

National Company Law Appellate Tribunal (NCLAT): The Bench of Justice Ashok Bhushan (Chairperson) and Dr. Alok Srivastava (Technical Member) allowed distribution of

Case Briefs Tribunals/Commissions/Regulatory Bodies

Operational Creditor is under obligation to recover money from its client and not agent: NCLT decides while dismissing a petition filed under S. 9 IBC

National Company Law Tribunal, Mumbai Bench: The Coram of H.V. Subba Rao (Judicial Member) and Chandra Bhan Singh (Technical Member) dismissed a

Case Briefs Tribunals/Commissions/Regulatory Bodies

Once Adjudicating Authority approves Resolution Plan, does it still remains a confidential document? Read what NCLAT says

National Company Law Appellate Tribunal (NCLAT): Justice Ashok Bhushan (Chairperson) and Dr Ashok Kumar Mishra (Technical Member) expressed that, once Resolution Plain

Case Briefs Supreme Court

Corporate Insolvency, Claims against Corporate Debtor and Period of Limitation; SC assesses impact of COVID-19 pandemic

Supreme Court: In a case relating to Corporate Insolvency, the Division Bench comprising of Indira Banerjee* and J.K. Maheshwari, JJ., quashed the

Op Eds OP. ED.

Payment of Stamp Duty vis-à-vis Resolution Plan under Insolvency and Bankruptcy Code, 2016

by Swarnendu Chatterjee† and Simran Bais††

Case Briefs Tribunals/Commissions/Regulatory Bodies

Is approval with 90% vote of CoC required before allowing withdrawal of CIRP application even where CoC was not yet constituted? NCLAT clarifies law on S. 12-A IBC

National Company Law Appellate Tribunal, New Delhi (NCLAT): The Coram of Justice Ashok Bhushan (Chairperson) and Jarat Kumar Jain (Judicial Member) and

Akaant Mittal Experts Corner

Whether a Decree or an Arbitral Award or a Settlement Deed can form the Basis of a Financial or Operational Debt under IB Code

by Akaant Kumar Mittal†

Cite as: 2022 SCC OnLine Blog Exp 1

Case Briefs Supreme Court

“NCLT can encourage settlements, it cannot direct it by acting as courts of equity” SC holds NCLT has limited powers to either admit or reject an application u/s 7(5) of IBC

Supreme Court: The Division Bench comprising of Dr Dhananjaya Y Chandrachud* and A S Bopanna, JJ., held that the powers of NCLT

Case Briefs Supreme Court

“Any deviation would defeat the object and purpose of providing such time limit under IBC”; Supreme Court directs to speed up insolvency process of Amtek Auto

Supreme Court: The Division Bench of M.R. Shah* and Sanjiv Khanna, JJ., directed to speed up the insolvency resolution process of Amtek

Case Briefs Supreme Court

Can NCLT entertain an arbitrable dispute? SC sets the yardsticks of residuary powers of NCLT under IBC

“The residuary jurisdiction of the NCLT cannot be invoked if the termination of a contract is based on grounds unrelated to the insolvency of the Corporate Debtor.”

Op Eds OP. ED.

Decoding the Conundrum around the Retrospective Effect of Section 29-A IBC through the Evolution of the Famous Wig Associates Judgment

by Shuchi Sejwar† and Sanjana Sachdeva[*]

Case Briefs High Courts

Kar HC | Interplay between IBC and Companies Act regarding winding up petitions; Court decides in matter of transfer of company petition to NCLT

Karnataka High Court: S. Sunil Dutt Yadav, J., decided in the matter of a petition which was filed praying to transfer a

Case Briefs Supreme Court

IBC and Limitation| Words “order is made available to the aggrieved party” consciously omitted from Section 61(1)&(2): SC. Read why

“The IBC, as a prescriptive mechanism, affecting rights of stakeholders who are not necessarily parties to the proceedings, mandates diligence on the part of applicants who are aggrieved by the outcome of their litigation.”

Op Eds OP. ED.

Does Unsecured Loan with No Returns have the Effect of Time Value of Money and be Covered under the Commercial Borrowing under the IBC Code?

by Love Kumar Gupta† and Angad Sandhu††

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | On not finding flaws in the NCLT order, abstains from interfering- Petitioner not being authorised under S.7 IBC, lacks locus standi

National Company Law Appellate Tribunal (NCLAT)- The Coram of Justice Jarat Kumar Jain (Judicial Member), Ashok Kumar Mishra (Technical Member), and Alok

Case Briefs Tribunals/Commissions/Regulatory Bodies

Whether S. 7 IBC petition is maintainable where financial creditor fails to enclose financial contract/documents along with the petition: NCLT examines

National Company Law Tribunal (NCLT): Coram of Judicial Member Ashok Kumar Borah and Technical Member Shyam Babu Gautam has admitted a petition