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REEDNews
Latest News on the Insolvency, Bankruptcy and Debt Recovery laws
Suppression of Allottee Data Amounts to Fraud—Recall under Rule 11 to Prevent Miscarriage of Justice Upheld
NCLAT held that suppression of allottee data by the Corporate Debtor amounted to fraud, and upheld the recall of the dismissal order...
23 hours ago3 min read
33 views
Authorised Representative of Homebuyers Cannot Be Replaced by Inherent Powers of the Adjudicating Authority—Statutory Mechanism under Regulation 16A(3A) Must Be Followed
NCLAT held that the Authorised Representative of homebuyers cannot be replaced by invoking the inherent powers of the Adjudicating...
2 days ago3 min read
37 views
Exclusion of Interim Restraint Period from Resolution Plan Timeline Justified Due to Hindrance in Fund Generation by the Successful Resolution Applicant
NCLAT held that the exclusion of the interim restraint period from the Resolution Plan implementation timeline was justified, as the...
2 days ago3 min read
22 views
Commercial Execution Proceedings Withdrawn Following Settlement – Liberty Granted to Restore on Breach of Terms
The High Court allowed the withdrawal of commercial execution proceedings following a settlement agreement between the parties, while...
3 days ago2 min read
19 views
Writ Jurisdiction under Article 226 Cannot Be Invoked by Homebuyers Once Claims Are Submitted in Ongoing CIRP Proceedings under the IBC
The High Court held that writ jurisdiction under Article 226 of the Constitution cannot be invoked by homebuyers once their claims have...
3 days ago2 min read
34 views
Supreme Court Leaves Settlement Dispute to Adjudicating Authority—Permits Consideration of Withdrawal under Section 12A of the IBC
The Supreme Court left the dispute concerning the settlement to be adjudicated by the Adjudicating Authority and permitted consideration...
3 days ago2 min read
50 views
Section 95 Application Maintainable—Personal Guarantee Enforceable through Security Trustee; Limitation Validly Extended
NCLAT held that the Section 95 application was maintainable as the personal guarantee was enforceable through the Security Trustee and...
3 days ago3 min read
49 views
Section 9 Petition Dismissed Due to Pre-existing Dispute Arising from Interlinked Commercial Transactions and Promoter-Level Litigations
NCLAT dismissed the Section 9 petition, holding that a pre-existing dispute existed arising from interlinked commercial transactions and...
4 days ago3 min read
29 views
Belated Claim Filed After Approval of Resolution Plan – Entitled Only to 50% Refund Under Clause 18.4(xi) of Resolution Plan
NCLAT held that a belated claim filed after the approval of the Resolution Plan is entitled only to a 50% refund under Clause 18.4(xi) of...
4 days ago3 min read
88 views
Writ Appellate Court Cannot Reappreciate Facts or Entertain New Grounds Absent Procedural Violation in Disciplinary Actions by IBBI
The High Court held that a writ appellate court cannot reappreciate factual findings or entertain new grounds at the appellate stage in...
4 days ago3 min read
45 views
Proceedings under Section 138 of NI Act Against an Individual are Barred During Interim Moratorium Under Section 96 of the IBC
The High Court held that proceedings under Section 138 of the Negotiable Instruments Act against an individual are barred during the...
4 days ago2 min read
53 views
IBBI Invites Public Suggestions on IBC Regulations to Simplify and Reduce Compliance Costs
The Insolvency and Bankruptcy Board of India (IBBI) has invited suggestions and comments from the public and regulated entities on all...
5 days ago1 min read
31 views
Section 9 Petition Liable to be Dismissed if Pre-existing Dispute on Quantum and Quality of Claim Exists Before Demand Notice
NCLAT held that a Section 9 petition under the IBC is liable to be dismissed if there exists a pre-existing dispute regarding the quantum...
5 days ago3 min read
32 views
Refinancing Creditor Cannot Enforce Security Interest Without NOC from Prior Charge-Holder Holding First Pari-Passu Charge Over Movable Assets
The NCLAT held in a significant ruling that a refinancing creditor cannot enforce its security interest under Section 52 of the...
6 days ago4 min read
36 views
Resolution Professional Cannot Act as Adjudicator and is Right to Reject Belated, Unadjudicated Claims During Advanced CIRP Stage
NCLAT held that the Resolution Professional cannot act as an adjudicator and was right in rejecting the belated, unadjudicated claims...
6 days ago3 min read
108 views
Absence of Original Lessor’s Consent Renders Sub-Letting Invalid – Entire Property Rightfully Included in Liquidation Estate
NCLAT held that in the absence of the original lessor’s consent, the subletting arrangement was legally invalid, and consequently, the...
6 days ago3 min read
31 views
Supreme Court: Limitation for Filing NCLAT Appeal Begins from Date of Pronouncement in Open Court, Not from Date of Receipt or Knowledge
The Supreme Court held that the limitation period for filing an appeal before the NCLAT begins from the date of pronouncement of the...
6 days ago3 min read
30 views
Acknowledged Payment Within Limitation Period Extends Limitation under Section 19 of the Limitation Act for Section 9 IBC Application
NCLAT held that an acknowledged payment made within the limitation period extends the limitation under Section 19 of the Limitation Act,...
Apr 73 min read
40 views
Bar under Section 10A of IBC Applies Only to Defaults Solely Occurring During the Moratorium Period; Continuing Defaults Beyond the Period Not Exempt from CIRP
The High Court held that the bar under Section 10A of the IBC applies only to defaults that occurred solely during the moratorium period,...
Apr 73 min read
27 views
Revocation of Failed Settlement Does Not Extinguish Original Financial Debt – Section 7 Application Maintainable Based on Assigned Loan Agreements
NCLAT held that the revocation of a failed settlement agreement does not extinguish the original financial debt, and accordingly, a...
Apr 73 min read
48 views
Personal Insolvency Proceedings Cannot Shield Individuals from Prosecution under Section 138 of the N.I. Act Despite Interim Moratorium under Section 96 of the IBC
The Supreme Court held that personal insolvency proceedings under the IBC cannot shield individuals from prosecution under Section 138 of...
Apr 54 min read
68 views
Adjudicating Authority Can Terminate CIRP under Section 65 of the IBC if a Section 7 Application is Found to be Fraudulent or Malicious
NCLAT held that the Adjudicating Authority can terminate the Corporate Insolvency Resolution Process under Section 65 of the IBC if it is...
Apr 53 min read
38 views
Assets of Foreign Subsidiary Under Liquidation Not Part of Corporate Debtor’s CIRP – NCLAT Holds Indian Authority Has No Jurisdiction to Order Valuation
NCLAT held that assets of a foreign subsidiary undergoing liquidation are not part of the Corporate Debtor’s CIRP and that the Indian...
Apr 44 min read
30 views
Appeal Against Admission of Insolvency Proceedings Against Personal Guarantors Maintainable Under Section 61 of the IBC
NCLAT held that an appeal against the admission of insolvency proceedings initiated against personal guarantors of a corporate debtor is...
Apr 43 min read
52 views
NCLAT Upholds Distribution Based on Security Interest Over Voting Share; CoC’s Commercial Wisdom Prevails
NCLAT upheld the distribution mechanism based on security interest over voting share, emphasizing that the CoC’s commercial wisdom...
Apr 34 min read
91 views
IBBI Mandates Exclusive Use of Baanknet Auction Platform for Liquidation Process
The Insolvency and Bankruptcy Board of India (IBBI), through its Circular No. IBBI/LIQ/84/2025, dated 28th March 2025, has made it...
Apr 32 min read
37 views
Supreme Court Upholds Creditor Rights in Avoidance Recoveries and Reinforces CoC's Commercial Primacy Under IBC
In a landmark judgment, the Supreme Court upheld creditor rights in avoidance recoveries and reinforced the commercial primacy of the CoC...
Apr 33 min read
78 views
NCLAT Upholds Pro-Rata Distribution of Liquidation Proceeds Under Section 53(1) of IBC, Rejects Security Interest-Based Allocation
The NCLAT upheld the pro-rata distribution of liquidation proceeds under Section 53(1) of the Insolvency and Bankruptcy Code (IBC) and...
Apr 24 min read
107 views
Wilful Defaulter Classification Must Adhere to Principles of Natural Justice – High Court Strikes Down Arbitrary Declaration Based on a Discredited Audit Report
The High Court ruled that the classification of a wilful defaulter must adhere to the principles of natural justice and struck down the...
Apr 24 min read
94 views
Corporate Debtor Cannot Deny Liability as Co-Borrower and Corporate Guarantor When Evidenced by Loan Agreements, Financial Records, and Prior Admissions
NCLAT held that the Corporate Debtor cannot deny its liability as a co-borrower and corporate guarantor when such obligations are...
Apr 23 min read
43 views
Tripartite Agreement Creating Direct Repayment Obligation on Corporate Debtor Qualifies Lending Bank as a Financial Creditor Under the IBC
NCLAT held that a tripartite agreement creating a direct repayment obligation on the Corporate Debtor qualifies the lending bank as a...
Apr 24 min read
53 views
Appellate Tribunal Directs NCLT to Re-examine Section 7 Application with Due Consideration of Evidence and Facts
The Appellate Tribunal has directed the NCLT to re-examine the Section 7 application, giving due consideration to the evidence and facts...
Apr 13 min read
75 views
Acknowledgment of Debt and a Fresh Promise to Pay Under Section 25(3) of the Indian Contract Act Can Extend Limitation for IBC Proceedings
NCLAT held that acknowledgment of debt and a fresh promise to pay under Section 25(3) of the Indian Contract Act, 1872, can extend the...
Apr 13 min read
65 views
Relocation of NCLT Kolkata Bench is a Policy Decision Not Warranting Judicial Interference in the Absence of Arbitrariness or Legal Infirmity
High Court held that the relocation of the NCLT Kolkata Bench is a policy matter for administrative efficiency and, in the absence of...
Mar 314 min read
83 views
Dissenting Creditors Get the First Slice: NCLAT Rules Pro-Rata Payout from Enhanced Resolution Value with Priority in Every Installment
NCLAT held that dissenting financial creditors are entitled to a pro-rata share of the enhanced resolution value and must be paid with...
Mar 294 min read
83 views
An Arbitral Award Cannot Be Set Aside Under Section 34 Merely Due to Erroneous Interpretation of Contractual Terms Unless It Suffers from Patent Illegality
The High Court held that an arbitral award cannot be set aside under Section 34 merely due to an erroneous interpretation of contractual...
Mar 273 min read
66 views
Personal Guarantor’s Liability Remains Enforceable Unless Expressly Discharged
NCLAT ruled that a personal guarantor’s liability remains enforceable unless expressly discharged by the creditor. The National Company...
Mar 274 min read
98 views
Banking Laws (Amendment) Bill, 2024: Key Reforms in Nomination, Substantial Interest, and Regulatory Compliance
Parliament has passed the Banking Laws (Amendment) Bill, 2024 , introducing significant reforms in banking regulations. The Rajya Sabha...
Mar 272 min read
91 views
NCLAT Upholds SBI’s Right to Invoke Personal Guarantee and Initiate Insolvency Proceedings Against Guarantors Under Section 95 of IBC
NCLAT upheld SBI’s right to invoke the personal guarantee and initiate insolvency proceedings against the guarantors under Section 95 of...
Mar 264 min read
99 views
Statutory Assessments Permissible but Unenforceable During Moratorium; Claims Filed Post-Resolution Plan Approval Are Inadmissible
NCLAT held that while statutory assessments are permissible, they are unenforceable during the moratorium, and claims filed after the...
Mar 263 min read
49 views
Mere Pendency of Arbitration or Settlement Proposals Does Not Bar Admission of a Section 7 Application Once Debt and Default Are Established
NCLAT held that the mere pendency of arbitration or settlement proposals does not bar the admission of a Section 7 application once debt...
Mar 254 min read
22 views
Statutory Claims Stand Extinguished If Not Submitted During CIRP – Supreme Court Reaffirms Binding Nature of Approved Resolution Plan
The Supreme Court reaffirmed that statutory claims stand extinguished if not submitted during the Corporate Insolvency Resolution Process...
Mar 213 min read
179 views
NCLAT: Extension Beyond 90 Days for E-Auction Payment is Impermissible, Emphasizing Strict Adherence to Liquidation Timelines
NCLAT held that an extension beyond 90 days for e-auction payment is impermissible, emphasizing the need for strict adherence to...
Mar 194 min read
57 views
Cheque Bounce Proceedings Against Director Unsustainable as Cause of Action Arose Post-Moratorium Under IBC
Supreme Court ruled that cheque bounce proceedings against the director are unsustainable as the cause of action arose after the...
Mar 193 min read
129 views
IBBI Mandates Enhanced Disclosure of Carry Forward Losses in Information Memorandum
The Insolvency and Bankruptcy Board of India (IBBI) , through its Circular No. IBBI/CIRP/83/2025 , has directed all Insolvency...
Mar 181 min read
56 views
IBBI and World Bank Conduct Workshop on Enterprise Group and Cross-Border Insolvency
The Insolvency and Bankruptcy Board of India (IBBI) , in collaboration with the World Bank , organized a Workshop on Enterprise Group...
Mar 181 min read
28 views
Workshop on Insolvency of Micro, Small, and Medium Enterprises (MSMEs)
The Insolvency and Bankruptcy Board of India (IBBI) and the World Bank jointly organized a Workshop on Insolvency of MSMEs  on March 11,...
Mar 181 min read
41 views
Resolution Plan Submitted After Deadline Cannot Be Entertained, Adjudicating Authority Cannot Direct CoC to Accept It
NCLAT held that a resolution plan submitted after the deadline cannot be entertained and the Adjudicating Authority cannot direct the CoC...
Mar 184 min read
56 views
Form B Notice Under Rule 7(1) Does Not Extend Limitation for Section 95 Application – NCLAT Dismisses Time-Barred Appeal
NCLAT held that a Form B notice issued under Rule 7(1) does not extend the limitation period for filing a Section 95 application and...
Mar 173 min read
63 views
High Court Cannot Interfere in CIRP Under Article 226 When Statutory Remedies Exist – Supreme Court Reiterates IBC as a Complete Code
The Supreme Court reiterated that the High Court cannot interfere in the Corporate Insolvency Resolution Process (CIRP) under Article 226...
Mar 124 min read
347 views
Commercial Execution Proceedings Withdrawn Following Settlement – Liberty Granted to Restore on Breach of Terms
The High Court allowed the withdrawal of commercial execution proceedings following a settlement agreement between the parties, while...
3 days ago2 min read
19 views
Proceedings under Section 138 of NI Act Against an Individual are Barred During Interim Moratorium Under Section 96 of the IBC
The High Court held that proceedings under Section 138 of the Negotiable Instruments Act against an individual are barred during the...
4 days ago2 min read
53 views
Personal Insolvency Proceedings Cannot Shield Individuals from Prosecution under Section 138 of the N.I. Act Despite Interim Moratorium under Section 96 of the IBC
The Supreme Court held that personal insolvency proceedings under the IBC cannot shield individuals from prosecution under Section 138 of...
Apr 54 min read
68 views
Supreme Court Reaffirms Statutory Presumption Under NI Act – Mere Denial by Accused Insufficient to Rebut Liability
The Supreme Court reaffirmed the statutory presumption under the Negotiable Instruments Act, holding that mere denial by the accused was...
Apr 33 min read
95 views
Wilful Defaulter Classification Must Adhere to Principles of Natural Justice – High Court Strikes Down Arbitrary Declaration Based on a Discredited Audit Report
The High Court ruled that the classification of a wilful defaulter must adhere to the principles of natural justice and struck down the...
Apr 24 min read
94 views
Banking Laws (Amendment) Bill, 2024: Key Reforms in Nomination, Substantial Interest, and Regulatory Compliance
Parliament has passed the Banking Laws (Amendment) Bill, 2024 , introducing significant reforms in banking regulations. The Rajya Sabha...
Mar 272 min read
91 views
Cheque Bounce Proceedings Against Director Unsustainable as Cause of Action Arose Post-Moratorium Under IBC
Supreme Court ruled that cheque bounce proceedings against the director are unsustainable as the cause of action arose after the...
Mar 193 min read
129 views
Cheque Dishonour Complaint Maintainable at Payee’s Bank Location; Accused’s Convenience Not a Ground for Transfer: Supreme Court
The Supreme Court had ruled that a cheque dishonour complaint is maintainable at the payee’s bank location and that the accused cannot...
Mar 133 min read
61 views
IBBI Celebrates International Women’s Day 2025 with Inspiring Deliberations
The Insolvency and Bankruptcy Board of India (IBBI) commemorated International Women’s Day 2025  through a virtual event on March 06,...
Mar 71 min read
9 views
Post-Dated Cheques Issued for Security Deposit Amount to a Legally Enforceable Debt; Supreme Court Upholds Conviction and Enhanced Compensation Under Section 138 of NI Act
The Supreme Court upheld the conviction and enhanced compensation under Section 138 of the NI Act, ruling that post-dated cheques issued...
Mar 64 min read
233 views
Borrower Not a 'Consumer' If Loan Is for Profit-Making, Complaint Against Bank Not Maintainable
The Supreme Court rules that a borrower is not a 'consumer' if the loan is taken for profit-making purposes, making a complaint against...
Mar 23 min read
97 views
MSMED Act Will Prevail Over Arbitration Act In Disputes Pertaining To A Party Which Is An MSME
The High Court held that in disputes involving an MSME, the provisions of the MSMED Act will override the Arbitration Act. On 24-02-2025,...
Feb 273 min read
66 views
RBI Issues Draft Guidelines on Foreclosure Charges and Pre-Payment Penalties for Loans – Seeks Public Comments
The Reserve Bank of India (RBI) has released a draft circular inviting comments from stakeholders and the public on its proposed...
Feb 242 min read
95 views
Supreme Court Rules on Priority of Charges and Enforceability of Equitable Mortgages Under the Transfer of Property Act, 1882
The Supreme Court Clarified the Priority of Charges and the Enforceability of Equitable Mortgages Under the Transfer of Property Act,...
Feb 226 min read
149 views
Byju's committee of creditors votes to Replace Resolution Professional Following NCLT’s Scrutiny
The National Company Law Tribunal (NCLT) has taken a decisive step in the ongoing insolvency proceedings against Byju’s parent company,...
Feb 192 min read
81 views
Acquittal in Criminal Proceedings Does Not Preclude Disciplinary Action; Supreme Court Upholds Dismissal for Bank Fraud
The Supreme Court held that an acquittal in criminal proceedings does not preclude disciplinary action and upheld the respondent’s...
Feb 73 min read
2 views
Revised Guidelines on Settlement of Dues by Asset Reconstruction Companies (ARCs)
The Reserve Bank of India (RBI) issued today the revised guidelines on the settlement of dues payable by borrowers of Asset...
Jan 202 min read
48 views
Validity of MSME Registration in CIRP Context: Supreme Court Allows Challenge via Writ Petition, Stays Proceedings
The Supreme Court permitted the Central Bank of India to challenge the validity of the MSME Registration Certificate issued to the...
Jan 162 min read
38 views
Government to Launch New Collateral-Free Credit Guarantee Scheme for MSMEs Covering Loans up to Rs 100 Crore to Boost Economic Growth
The Government of India is set to introduce a new credit guarantee scheme for Micro, Small, and Medium Enterprises (MSMEs), aimed at...
Jan 111 min read
7 views
MSME Ministry Hosts Consultation to Ease Compliance Under Companies Act, 2013
The Ministry of Micro, Small, and Medium Enterprises (MSME) is set to host a Stakeholder Consultation on January 10, 2025, in New Delhi...
Jan 91 min read
16 views
No Loans or Utility Connections for Buildings Without Completion/Occupation Certificate, Orders Supreme Court
The Supreme Court of India, in a decisive ruling, has issued comprehensive guidelines aimed at curbing the rise of unauthorized...
Jan 62 min read
137 views
Strengthening Support for MSMEs: FISME's Budget Recommendations for Improved Financial Frameworks and Growth
In its budget recommendations, the Federation of Indian Micro and Small & Medium Enterprises (FISME) stressed the need to enhance the...
Jan 62 min read
10 views
Limitation Period for Objections to Arbitral Award Starts from Awareness of Award, Not Formal Notice: Supreme Court Clarifies under Section 14(2) of the Arbitration Act, 1940
Supreme Court clarified that the limitation period for objections to an arbitral award commenced from the objector's awareness of the...
Jan 52 min read
76 views
Validity of Complaints Filed by Authorized Representatives Under Section 138 NI Act: Authorization and Knowledge as Trial Issues
Supreme Court upheld the validity of complaints filed by authorized representatives under Section 138 of the NI Act, emphasizing that...
Jan 53 min read
59 views
Authorized Signatories Excluded from Interim Compensation Liability under Section 143-A of the NI Act: Supreme Court Upholds Strict Interpretation
The Supreme Court upheld a strict interpretation of Section 143-A of the NI Act, ruling that authorized signatories are excluded from...
Dec 24, 20243 min read
29 views
Judicial Rejection of Procedural Delays in NI Act Cases: Upholding Trial Efficiency and Evidentiary Principles
The High Court rejected procedural delays in NI Act cases, emphasizing trial efficiency and reaffirming that expert opinions are...
Dec 23, 20242 min read
14 views
Arbitration Petition Dismissed as Claims are Ex Facie Time-Barred and Beyond the Limitation Period
The Supreme Court dismissed the arbitration petition, holding that the claims were ex facie  time-barred and beyond the limitation...
Dec 20, 20243 min read
42 views
Sanjay Malhotra Appointed as the New RBI Governor
Sanjay Malhotra has been appointed as the 26th Governor of the Reserve Bank of India (RBI) for a three-year term, beginning December 10,...
Dec 9, 20241 min read
4 views
Strengthening Governance and Customer Convenience: Key Highlights of the Banking Laws (Amendment) Bill, 2024
The Banking Laws (Amendment) Bill, 2024 , introduced by Finance Minister Nirmala Sitharaman, aims to modernize governance frameworks,...
Dec 4, 20242 min read
28 views
Appellate Court's Power to Waive 20% Deposit Under Section 148 of the Negotiable Instruments Act: A Key Ruling
High Court ruled that the Appellate Court had the power to waive the 20% deposit under Section 148 of the Negotiable Instruments Act in...
Nov 26, 20242 min read
35 views
Supreme Court Rules Against Awarding Interest on Interest in Absence of Statutory or Contractual Provision
The Supreme Court ruled against awarding interest on interest in the absence of a statutory or contractual provision. The Supreme Court...
Nov 26, 20242 min read
51 views
High Court Quashes Section 138 NI Act Complaints Against Non-Executive Directors for Lack of Specific Averments on Responsibility and Involvement
The High Court quashed the Section 138 NI Act complaints against non-executive directors for the lack of specific averments regarding...
Nov 26, 20242 min read
23 views
District Magistrate's Role Under Section 14 of SARFAESI Act is Ministerial, Not Adjudicatory: Appeal Dismissed
The District Magistrate's role under Section 14 of the SARFAESI Act was deemed ministerial and not adjudicatory, leading to the dismissal...
Nov 21, 20243 min read
74 views
Supreme Court Rules: No Disciplinary Proceedings Can Be Initiated Against Employees Post-Retirement
The Supreme Court ruled that no disciplinary proceedings could be initiated against employees after their retirement. The Supreme Court...
Nov 20, 20242 min read
65 views
Supreme Court Reinstates Equitable Mortgage Claim, Emphasizes Evidentiary and Procedural Fairness
The Supreme Court reinstated an equitable mortgage claim, emphasizing the importance of evidentiary and procedural fairness. The Supreme...
Nov 16, 20243 min read
30 views
Govt to Introduce Creditor Led Resolution Process (CLR): New Out-of-Court Mechanism for Quick Resolutions with Limited NCLT Involvement
The Centre is poised to introduce significant amendments to the Insolvency and Bankruptcy Code (IBC) and the Companies Act, with plans to...
Nov 8, 20241 min read
59 views
IBBI and IBA Launch Centralized eBKray Platform to Enhance Transparency and Recovery in IBC Liquidation Auctions
In a transformative step for asset liquidation under the Insolvency and Bankruptcy Code (IBC), the Insolvency and Bankruptcy Board of...
Nov 5, 20243 min read
29 views
Supreme Court Mandates Strict Compliance with MSME Revival Framework Before NPA Classification by Banks
The Supreme Court mandated strict compliance with the MSME revival framework by banks before classifying loan accounts as NPAs. The...
Nov 4, 20242 min read
107 views
Strict Enforcement of Protections Against NPA Classification and Recovery Actions by Banks: MSME Borrowers Demand
The National MSME Borrowers Association recently emphasized the urgent need for the enforcement of a 2015 Notification that mandates a...
Nov 4, 20241 min read
67 views
Engagement of Research Associates in Law at the Insolvency and Bankruptcy Board of India (IBBI) on a Contract Basis
The Insolvency and Bankruptcy Board of India (IBBI), established under the Insolvency and Bankruptcy Code, 2016, has invited applications...
Oct 19, 20242 min read
52 views
Central Banking at Crossroads: Navigating Challenges, Innovation, and the Future
In his keynote address at the RBI@90 High-Level Conference held in New Delhi on October 14, 2024, Governor Shaktikanta Das emphasized the...
Oct 15, 20242 min read
19 views
Membership and Reporting to Credit Information Companies (CICs) by Asset Reconstruction Companies (ARCs) is Now Mandatory
In accordance with Circular No. DNBS (PD-SC/RC). CC. No. 23/26.03.001/2010-11 dated November 25, 2010, regarding the submission of...
Oct 12, 20242 min read
13 views
The Reserve Bank (RBI) Proposes Beneficiary Name Verification for RTGS and NEFT Transactions
The Central Bank has proposed a significant enhancement to its Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer...
Oct 11, 20241 min read
8 views
Byju’s Allegedly Transferred Funds in Violation of U.S. Bankruptcy Rules
Indian edtech company Byju's, already embroiled in legal and financial difficulties, is now facing fresh allegations of fund transfers in...
Oct 11, 20241 min read
8 views
A legal representative requires explicit client authorization to withdraw an application; any withdrawal without such authority is invalid
A legal representative required explicit client authorization to withdraw an application; any withdrawal made without such authority was...
Sep 24, 20242 min read
24 views
IBBI Announces Results of the 5th National Online Quiz on Insolvency and Bankruptcy Code, 2016
The Insolvency and Bankruptcy Board of India (IBBI) announced the results of the 5th National Online Quiz on the Insolvency and...
Sep 23, 20241 min read
23 views
RBI Imposes ₹1 Crore Penalty on HDFC Bank for Regulatory Non-Compliance
On September 3, 2024, the Reserve Bank of India (RBI) issued an order imposing a monetary penalty of ₹1 crore on HDFC Bank Limited for...
Sep 11, 20242 min read
48 views
Government Announces Recruitment for Recovery Officers Across Debts Recovery Tribunals in Multiple Locations
The Ministry of Finance, Department of Financial Services, has announced a recruitment drive for the position of Recovery Officer in...
Sep 8, 20241 min read
352 views
RBI's 610th Central Board Meeting Reviews Economic Outlook and Operational Performance
The 610th meeting of the Central Board of Directors of the Reserve Bank of India (RBI) took place in Mumbai, chaired by Governor Shri...
Sep 5, 20241 min read
24 views
SBI Chairman CS Setty on Advancing MSME Credit Access and Financial System Evolution
On September 2, CS Setty, who recently assumed the role of Chairman of the State Bank of India (SBI), provided insights into the current...
Sep 4, 20242 min read
12 views
Wilful Defaulter Classification Must Adhere to Principles of Natural Justice – High Court Strikes Down Arbitrary Declaration Based on a Discredited Audit Report
The High Court ruled that the classification of a wilful defaulter must adhere to the principles of natural justice and struck down the...
Apr 24 min read
94 views
Chandigarh DRT Presiding Officer Challenges Suspension Extension in Delhi High Court, Cites Unjust Harassment
Mr. M.M. Dhonchak, Presiding Officer of Debts Recovery Tribunal (DRT)-2, Chandigarh, has filed an appeal before the Division Bench of the...
Mar 312 min read
81 views
Banking Laws (Amendment) Bill, 2024: Key Reforms in Nomination, Substantial Interest, and Regulatory Compliance
Parliament has passed the Banking Laws (Amendment) Bill, 2024 , introducing significant reforms in banking regulations. The Rajya Sabha...
Mar 272 min read
91 views
Although Non-Adjudicatory, a Chief Judicial Magistrate’s Role Under Section 14 of the SARFAESI Act Mandates Due Application of Mind
The High Court held that although non-adjudicatory, a Chief Judicial Magistrate’s role under Section 14 of the SARFAESI Act mandates due...
Mar 253 min read
145 views
IBBI Celebrates International Women’s Day 2025 with Inspiring Deliberations
The Insolvency and Bankruptcy Board of India (IBBI) commemorated International Women’s Day 2025  through a virtual event on March 06,...
Mar 71 min read
9 views
Banks Can Initiate Proceedings Under SARFAESI Act If Not a Party to the Resolution Plan
The High Court ruled that banks could initiate proceedings under the SARFAESI Act if they were not a party to the resolution plan. The...
Mar 53 min read
77 views
Borrower Not a 'Consumer' If Loan Is for Profit-Making, Complaint Against Bank Not Maintainable
The Supreme Court rules that a borrower is not a 'consumer' if the loan is taken for profit-making purposes, making a complaint against...
Mar 23 min read
97 views
Supreme Court Rules on Priority of Charges and Enforceability of Equitable Mortgages Under the Transfer of Property Act, 1882
The Supreme Court Clarified the Priority of Charges and the Enforceability of Equitable Mortgages Under the Transfer of Property Act,...
Feb 226 min read
149 views
Supreme Court Upholds Validity of Section 101 IBC, Addresses Concern Over Post-Moratorium Creditor Actions in Individual Insolvency
The Supreme Court upheld the validity of Section 101 of the IBC and addressed concerns over post-moratorium creditor actions in...
Feb 203 min read
155 views
Byju's committee of creditors votes to Replace Resolution Professional Following NCLT’s Scrutiny
The National Company Law Tribunal (NCLT) has taken a decisive step in the ongoing insolvency proceedings against Byju’s parent company,...
Feb 192 min read
81 views
DRT Cannot Restore Possession of Secured Assets to Non-Borrower or Non-Possessor – Civil Court Jurisdiction and DRT's Powers under SARFAESI Act
The Supreme Court held that the DRT could not restore possession of the secured asset to a person who was neither the borrower nor the...
Jan 254 min read
85 views
Supreme Court Directs Centre to Provide Additional Staff for DRTs to Ensure Uninterrupted Functioning
The Supreme Court, on January 17, 2025, ruled that the Union of India must provide additional staff to the Debts Recovery Tribunals...
Jan 212 min read
15 views
Revised Guidelines on Settlement of Dues by Asset Reconstruction Companies (ARCs)
The Reserve Bank of India (RBI) issued today the revised guidelines on the settlement of dues payable by borrowers of Asset...
Jan 202 min read
48 views
Remand of Securitisation Application for Reconsideration in Light of Fresh Adjudication of Original Application
DRAT remanded the Securitisation Application to the DRT for fresh adjudication, directing it to reconsider the matter alongside the...
Jan 162 min read
31 views
Government to Launch New Collateral-Free Credit Guarantee Scheme for MSMEs Covering Loans up to Rs 100 Crore to Boost Economic Growth
The Government of India is set to introduce a new credit guarantee scheme for Micro, Small, and Medium Enterprises (MSMEs), aimed at...
Jan 111 min read
7 views
Rights of Secured Creditors under Section 26E of the SARFAESI Act Take Precedence Over Crown Debts
The High Court ruled that the rights of secured creditors under Section 26E of the SARFAESI Act take precedence over Crown debts,...
Jan 92 min read
53 views
Procedural Irregularities in SARFAESI Auctions Do Not Invalidate Sales Without Collusion, Fraud, or Prejudice
DRT held that procedural irregularities in SARFAESI auctions did not invalidate sales unless collusion, fraud, or substantial prejudice...
Jan 82 min read
125 views
No Loans or Utility Connections for Buildings Without Completion/Occupation Certificate, Orders Supreme Court
The Supreme Court of India, in a decisive ruling, has issued comprehensive guidelines aimed at curbing the rise of unauthorized...
Jan 62 min read
137 views
Strengthening Support for MSMEs: FISME's Budget Recommendations for Improved Financial Frameworks and Growth
In its budget recommendations, the Federation of Indian Micro and Small & Medium Enterprises (FISME) stressed the need to enhance the...
Jan 62 min read
10 views
Kerala High Court Upholds Borrowers' Privacy: Public Shaming Declared Unlawful for Debt Recovery
The Kerala High Court upheld borrowers' privacy and declared public shaming as an unlawful method for debt recovery. The Single-Judge...
Dec 27, 20242 min read
27 views
Tribunal Affirms Joint and Several Liability of Borrower and Guarantor for Loan Default with Modified Interest Rate
DRT affirmed the joint and several liability of the borrower and guarantor for loan default while modifying the interest rate. The Debts...
Dec 23, 20242 min read
27 views
Borrower’s Right to Redeem Extinguished Post-Sale Notice; Auction Validity Upheld, Contempt for Obstructing Court’s Order
The Supreme Court held that the borrower's right to redeem the mortgage was extinguished after the sale notice was issued, upheld the...
Dec 22, 20243 min read
32 views
Auction Sale Set Aside for Non-Compliance with Mandatory 30-Day Notice Requirement Under Rules 8(6) and 9(1) of SARFAESI Rules
The DRAT set aside the auction sale for non-compliance with the mandatory 30-day notice requirement under Rules 8(6) and 9(1) of the...
Dec 19, 20244 min read
107 views
Applicant Estopped from Challenging Sale Notice Under SARFAESI Act Following Dismissal of Previous Application
The DRT held that the Applicant was estopped from challenging the Sale Notice under the SARFAESI Act, following the dismissal of the...
Dec 18, 20242 min read
56 views
Ex-Parte Recovery Order Passed in Favour of Bank with Reduction in Penal Interest and Capping of Future Interest at 9% Per Annum
DRT passed an ex-parte recovery order in favour of the Bank, reducing the penal interest and capping the future interest at 9% per annum....
Dec 18, 20242 min read
29 views
Right of Redemption Under Section 13(8) of SARFAESI Act Limited to Mortgagor; Third-Party Possession Insufficient to Challenge Secured Creditor’s Measures
DRAT held that the right of redemption under Section 13(8) of the SARFAESI Act is limited to the mortgagor, and a third party in...
Dec 17, 20243 min read
36 views
Procedural Fairness and Enforceability of Personal Guarantee Document Amid Pending Insolvency Proceedings
The DRT examined the procedural fairness and enforceability of a personal guarantee document in light of pending insolvency proceedings...
Dec 15, 20243 min read
31 views
Non-filing of Written Statement Not Enough for Counter-claim Success - Review Limited to Errors Apparent on Record
The DRAT held that the non-filing of a written statement by SBI did not automatically entitle the counter-claim to succeed and emphasized...
Dec 13, 20243 min read
31 views
Substitution of Authorized Officer by District Magistrate under SARFAESI Act Validated by DRAT
DRAT validated the substitution of the authorized officer by the District Magistrate under the SARFAESI Act. The Debts Recovery Appellate...
Dec 13, 20242 min read
28 views
Rectification of Typographical Errors in Section 14 Orders is Ministerial and Does Not Render the Magistrate Functus Officio
DRAT held that the rectification of typographical errors in Section 14 orders was ministerial in nature and did not render the Magistrate...
Dec 13, 20243 min read
80 views
Sanjay Malhotra Appointed as the New RBI Governor
Sanjay Malhotra has been appointed as the 26th Governor of the Reserve Bank of India (RBI) for a three-year term, beginning December 10,...
Dec 9, 20241 min read
4 views
SARFAESI and Arbitration Proceedings Can Proceed Simultaneously: Court's Scope Under Section 11(6) Limited to Examining Arbitration Agreement
The High Court held that SARFAESI and arbitration proceedings could proceed simultaneously and reiterated that its scope under Section...
Dec 9, 20243 min read
44 views
SARFAESI Act Proceedings Can Coexist with Arbitration and RDB Act Remedies; Procedural Nature Allows Application to Existing Debts
The Supreme Court held that proceedings under the SARFAESI Act could coexist with arbitration and RDB Act remedies, and clarified that...
Dec 9, 20243 min read
44 views
District Magistrate's Ministerial Powers Under Section 14 of SARFAESI Act Affirmed: Substitution of Authorized Officer Upheld
DRAT upheld the District Magistrate's ministerial powers under Section 14 of the SARFAESI Act, affirming the substitution of the...
Dec 4, 20243 min read
56 views
Strengthening Governance and Customer Convenience: Key Highlights of the Banking Laws (Amendment) Bill, 2024
The Banking Laws (Amendment) Bill, 2024 , introduced by Finance Minister Nirmala Sitharaman, aims to modernize governance frameworks,...
Dec 4, 20242 min read
28 views
District Magistrate's Ministerial Role under Section 14 of SARFAESI Act Upheld: Procedural Modifications Deemed Jurisdictionally Valid
DRAT upheld the District Magistrate's ministerial role under Section 14 of the SARFAESI Act, ruling that procedural modifications were...
Dec 3, 20242 min read
38 views
Non-Compliance with Statutory Notice Requirements Renders Auction Sale Invalid Under SARFAESI Act
DRAT held that non-compliance with statutory notice requirements under the SARFAESI Act rendered the auction sale invalid. The Debts...
Nov 30, 20243 min read
82 views
Fraudulent Mortgage Invalidated: Bank Entitled to Recover Dues from Borrowers While Bona Fide Purchasers Exonerated
DRAT invalidated the fraudulent mortgage, upheld the bank's entitlement to recover dues from the borrowers, and exonerated the bona fide...
Nov 29, 20243 min read
48 views
Appeal Dismissed for Misconceived Review Petition; Final Order on Deposit Remains Unchallenged
DRAT dismissed the appeal, finding the application to be a misconceived review petition, and upheld the final order regarding the...
Nov 28, 20242 min read
19 views
Precedence of Prior Mortgages Upheld: Rights of Pre-Mortgage Purchasers Protected While Recovery Against Post-Mortgage Transactions Permitted
DRAT upheld the precedence of prior mortgages, protected the rights of pre-mortgage purchasers, and permitted recovery actions against...
Nov 28, 20243 min read
29 views
DRAT Affirms Validity of SARFAESI Proceedings, Dismissing Securitization Application on Grounds of Procedural Compliance
DRAT affirmed the validity of the SARFAESI proceedings and dismissed the securitization application on the grounds of procedural...
Nov 27, 20243 min read
78 views
DRAT Sets Aside DRT Order, Emphasizes Substantive Justice Over Procedural Technicalities in SARFAESI Applications
DRAT set aside the DRT order and emphasized substantive justice over procedural technicalities in SARFAESI applications. The Debts...
Nov 27, 20242 min read
49 views
DRAT Rejects Refund Claim as Deposits and Auction Proceeds Fail to Cover Outstanding Dues
The DRAT rejected the refund claim, holding that the deposits and auction proceeds were insufficient to cover the outstanding dues. The...
Nov 26, 20242 min read
31 views
DRAT Rules Procedural Terms in Auction Notices Are Directory, Upholds Substantive Justice Over Technicalities in SARFAESI Cases
DRAT ruled that procedural terms in auction notices were directory and upheld substantive justice over technicalities in SARFAESI cases....
Nov 26, 20242 min read
28 views
DRAT Allows Appeal Against SARFAESI Measures with Reduced Pre-Deposit and Deferred Possession Proceedings
DRAT allowed the appeal against SARFAESI measures with a reduced pre-deposit requirement and deferred the possession proceedings. The...
Nov 26, 20242 min read
26 views
DRAT Grants Conditional Protection from Dispossession and Directs ₹60 Lakh Pre-Deposit for Appeal under SARFAESI Act
The DRAT granted conditional protection from dispossession and directed a pre-deposit of ₹60 lahk for the appeal under the SARFAESI Act....
Nov 26, 20242 min read
19 views
Supreme Court Affirms Auction Sale Validity, Rejects Claims of Undervaluation and Procedural Lapses
The Supreme Court affirmed the validity of the auction sale and rejected claims of undervaluation and procedural lapses. The Supreme...
Nov 25, 20242 min read
65 views
Failure to Prove Service of Representation Under Section 13(3A) of the SARFAESI Act Leads to Reversal of DRT Order
DRAT held that the respondents' failure to prove the service of the representation under Section 13(3-A) of the SARFAESI Act led to the...
Nov 25, 20242 min read
36 views
Unregistered Tenancy Claims Fail Against Secured Creditors Under the SARFAESI Act: Tenant Deemed in Sufferance
DRAT Dismissed the Appeal, Holding Unregistered Tenancy Claims Invalid Against Secured Creditors Under the SARFAESI Act, With the Tenant...
Nov 25, 20243 min read
16 views
Mandatory Notice Period Violation Invalidates Auction Sale Under SARFAESI Act
DRAT held that the violation of the mandatory notice period under the SARFAESI Act rendered the auction sale invalid. The Debts Recovery...
Nov 25, 20243 min read
52 views
Suppression of Allottee Data Amounts to Fraud—Recall under Rule 11 to Prevent Miscarriage of Justice Upheld
NCLAT held that suppression of allottee data by the Corporate Debtor amounted to fraud, and upheld the recall of the dismissal order...
23 hours ago3 min read
33 views
Authorised Representative of Homebuyers Cannot Be Replaced by Inherent Powers of the Adjudicating Authority—Statutory Mechanism under Regulation 16A(3A) Must Be Followed
NCLAT held that the Authorised Representative of homebuyers cannot be replaced by invoking the inherent powers of the Adjudicating...
2 days ago3 min read
37 views
Exclusion of Interim Restraint Period from Resolution Plan Timeline Justified Due to Hindrance in Fund Generation by the Successful Resolution Applicant
NCLAT held that the exclusion of the interim restraint period from the Resolution Plan implementation timeline was justified, as the...
2 days ago3 min read
22 views
Commercial Execution Proceedings Withdrawn Following Settlement – Liberty Granted to Restore on Breach of Terms
The High Court allowed the withdrawal of commercial execution proceedings following a settlement agreement between the parties, while...
3 days ago2 min read
19 views
Writ Jurisdiction under Article 226 Cannot Be Invoked by Homebuyers Once Claims Are Submitted in Ongoing CIRP Proceedings under the IBC
The High Court held that writ jurisdiction under Article 226 of the Constitution cannot be invoked by homebuyers once their claims have...
3 days ago2 min read
34 views
Supreme Court Leaves Settlement Dispute to Adjudicating Authority—Permits Consideration of Withdrawal under Section 12A of the IBC
The Supreme Court left the dispute concerning the settlement to be adjudicated by the Adjudicating Authority and permitted consideration...
3 days ago2 min read
50 views
Section 95 Application Maintainable—Personal Guarantee Enforceable through Security Trustee; Limitation Validly Extended
NCLAT held that the Section 95 application was maintainable as the personal guarantee was enforceable through the Security Trustee and...
3 days ago3 min read
49 views
Section 9 Petition Dismissed Due to Pre-existing Dispute Arising from Interlinked Commercial Transactions and Promoter-Level Litigations
NCLAT dismissed the Section 9 petition, holding that a pre-existing dispute existed arising from interlinked commercial transactions and...
4 days ago3 min read
29 views
Belated Claim Filed After Approval of Resolution Plan – Entitled Only to 50% Refund Under Clause 18.4(xi) of Resolution Plan
NCLAT held that a belated claim filed after the approval of the Resolution Plan is entitled only to a 50% refund under Clause 18.4(xi) of...
4 days ago3 min read
88 views
Writ Appellate Court Cannot Reappreciate Facts or Entertain New Grounds Absent Procedural Violation in Disciplinary Actions by IBBI
The High Court held that a writ appellate court cannot reappreciate factual findings or entertain new grounds at the appellate stage in...
4 days ago3 min read
45 views
Proceedings under Section 138 of NI Act Against an Individual are Barred During Interim Moratorium Under Section 96 of the IBC
The High Court held that proceedings under Section 138 of the Negotiable Instruments Act against an individual are barred during the...
4 days ago2 min read
53 views
IBBI Invites Public Suggestions on IBC Regulations to Simplify and Reduce Compliance Costs
The Insolvency and Bankruptcy Board of India (IBBI) has invited suggestions and comments from the public and regulated entities on all...
5 days ago1 min read
31 views
Section 9 Petition Liable to be Dismissed if Pre-existing Dispute on Quantum and Quality of Claim Exists Before Demand Notice
NCLAT held that a Section 9 petition under the IBC is liable to be dismissed if there exists a pre-existing dispute regarding the quantum...
5 days ago3 min read
32 views
Refinancing Creditor Cannot Enforce Security Interest Without NOC from Prior Charge-Holder Holding First Pari-Passu Charge Over Movable Assets
The NCLAT held in a significant ruling that a refinancing creditor cannot enforce its security interest under Section 52 of the...
6 days ago4 min read
36 views
Resolution Professional Cannot Act as Adjudicator and is Right to Reject Belated, Unadjudicated Claims During Advanced CIRP Stage
NCLAT held that the Resolution Professional cannot act as an adjudicator and was right in rejecting the belated, unadjudicated claims...
6 days ago3 min read
108 views
Absence of Original Lessor’s Consent Renders Sub-Letting Invalid – Entire Property Rightfully Included in Liquidation Estate
NCLAT held that in the absence of the original lessor’s consent, the subletting arrangement was legally invalid, and consequently, the...
6 days ago3 min read
31 views
Supreme Court: Limitation for Filing NCLAT Appeal Begins from Date of Pronouncement in Open Court, Not from Date of Receipt or Knowledge
The Supreme Court held that the limitation period for filing an appeal before the NCLAT begins from the date of pronouncement of the...
6 days ago3 min read
30 views
Acknowledged Payment Within Limitation Period Extends Limitation under Section 19 of the Limitation Act for Section 9 IBC Application
NCLAT held that an acknowledged payment made within the limitation period extends the limitation under Section 19 of the Limitation Act,...
Apr 73 min read
40 views
Bar under Section 10A of IBC Applies Only to Defaults Solely Occurring During the Moratorium Period; Continuing Defaults Beyond the Period Not Exempt from CIRP
The High Court held that the bar under Section 10A of the IBC applies only to defaults that occurred solely during the moratorium period,...
Apr 73 min read
27 views
Revocation of Failed Settlement Does Not Extinguish Original Financial Debt – Section 7 Application Maintainable Based on Assigned Loan Agreements
NCLAT held that the revocation of a failed settlement agreement does not extinguish the original financial debt, and accordingly, a...
Apr 73 min read
48 views
Personal Insolvency Proceedings Cannot Shield Individuals from Prosecution under Section 138 of the N.I. Act Despite Interim Moratorium under Section 96 of the IBC
The Supreme Court held that personal insolvency proceedings under the IBC cannot shield individuals from prosecution under Section 138 of...
Apr 54 min read
68 views
Adjudicating Authority Can Terminate CIRP under Section 65 of the IBC if a Section 7 Application is Found to be Fraudulent or Malicious
NCLAT held that the Adjudicating Authority can terminate the Corporate Insolvency Resolution Process under Section 65 of the IBC if it is...
Apr 53 min read
38 views
Assets of Foreign Subsidiary Under Liquidation Not Part of Corporate Debtor’s CIRP – NCLAT Holds Indian Authority Has No Jurisdiction to Order Valuation
NCLAT held that assets of a foreign subsidiary undergoing liquidation are not part of the Corporate Debtor’s CIRP and that the Indian...
Apr 44 min read
30 views
Appeal Against Admission of Insolvency Proceedings Against Personal Guarantors Maintainable Under Section 61 of the IBC
NCLAT held that an appeal against the admission of insolvency proceedings initiated against personal guarantors of a corporate debtor is...
Apr 43 min read
52 views
NCLAT Upholds Distribution Based on Security Interest Over Voting Share; CoC’s Commercial Wisdom Prevails
NCLAT upheld the distribution mechanism based on security interest over voting share, emphasizing that the CoC’s commercial wisdom...
Apr 34 min read
91 views
IBBI Mandates Exclusive Use of Baanknet Auction Platform for Liquidation Process
The Insolvency and Bankruptcy Board of India (IBBI), through its Circular No. IBBI/LIQ/84/2025, dated 28th March 2025, has made it...
Apr 32 min read
37 views
Supreme Court Upholds Creditor Rights in Avoidance Recoveries and Reinforces CoC's Commercial Primacy Under IBC
In a landmark judgment, the Supreme Court upheld creditor rights in avoidance recoveries and reinforced the commercial primacy of the CoC...
Apr 33 min read
78 views
Supreme Court Reaffirms Statutory Presumption Under NI Act – Mere Denial by Accused Insufficient to Rebut Liability
The Supreme Court reaffirmed the statutory presumption under the Negotiable Instruments Act, holding that mere denial by the accused was...
Apr 33 min read
95 views
NCLAT Upholds Pro-Rata Distribution of Liquidation Proceeds Under Section 53(1) of IBC, Rejects Security Interest-Based Allocation
The NCLAT upheld the pro-rata distribution of liquidation proceeds under Section 53(1) of the Insolvency and Bankruptcy Code (IBC) and...
Apr 24 min read
107 views
Wilful Defaulter Classification Must Adhere to Principles of Natural Justice – High Court Strikes Down Arbitrary Declaration Based on a Discredited Audit Report
The High Court ruled that the classification of a wilful defaulter must adhere to the principles of natural justice and struck down the...
Apr 24 min read
94 views
Corporate Debtor Cannot Deny Liability as Co-Borrower and Corporate Guarantor When Evidenced by Loan Agreements, Financial Records, and Prior Admissions
NCLAT held that the Corporate Debtor cannot deny its liability as a co-borrower and corporate guarantor when such obligations are...
Apr 23 min read
43 views
Tripartite Agreement Creating Direct Repayment Obligation on Corporate Debtor Qualifies Lending Bank as a Financial Creditor Under the IBC
NCLAT held that a tripartite agreement creating a direct repayment obligation on the Corporate Debtor qualifies the lending bank as a...
Apr 24 min read
53 views
Appellate Tribunal Directs NCLT to Re-examine Section 7 Application with Due Consideration of Evidence and Facts
The Appellate Tribunal has directed the NCLT to re-examine the Section 7 application, giving due consideration to the evidence and facts...
Apr 13 min read
75 views
Acknowledgment of Debt and a Fresh Promise to Pay Under Section 25(3) of the Indian Contract Act Can Extend Limitation for IBC Proceedings
NCLAT held that acknowledgment of debt and a fresh promise to pay under Section 25(3) of the Indian Contract Act, 1872, can extend the...
Apr 13 min read
65 views
Chandigarh DRT Presiding Officer Challenges Suspension Extension in Delhi High Court, Cites Unjust Harassment
Mr. M.M. Dhonchak, Presiding Officer of Debts Recovery Tribunal (DRT)-2, Chandigarh, has filed an appeal before the Division Bench of the...
Mar 312 min read
81 views
Relocation of NCLT Kolkata Bench is a Policy Decision Not Warranting Judicial Interference in the Absence of Arbitrariness or Legal Infirmity
High Court held that the relocation of the NCLT Kolkata Bench is a policy matter for administrative efficiency and, in the absence of...
Mar 314 min read
83 views
Dissenting Creditors Get the First Slice: NCLAT Rules Pro-Rata Payout from Enhanced Resolution Value with Priority in Every Installment
NCLAT held that dissenting financial creditors are entitled to a pro-rata share of the enhanced resolution value and must be paid with...
Mar 294 min read
83 views
An Arbitral Award Cannot Be Set Aside Under Section 34 Merely Due to Erroneous Interpretation of Contractual Terms Unless It Suffers from Patent Illegality
The High Court held that an arbitral award cannot be set aside under Section 34 merely due to an erroneous interpretation of contractual...
Mar 273 min read
66 views
Personal Guarantor’s Liability Remains Enforceable Unless Expressly Discharged
NCLAT ruled that a personal guarantor’s liability remains enforceable unless expressly discharged by the creditor. The National Company...
Mar 274 min read
98 views
Banking Laws (Amendment) Bill, 2024: Key Reforms in Nomination, Substantial Interest, and Regulatory Compliance
Parliament has passed the Banking Laws (Amendment) Bill, 2024 , introducing significant reforms in banking regulations. The Rajya Sabha...
Mar 272 min read
91 views
NCLAT Upholds SBI’s Right to Invoke Personal Guarantee and Initiate Insolvency Proceedings Against Guarantors Under Section 95 of IBC
NCLAT upheld SBI’s right to invoke the personal guarantee and initiate insolvency proceedings against the guarantors under Section 95 of...
Mar 264 min read
99 views
Statutory Assessments Permissible but Unenforceable During Moratorium; Claims Filed Post-Resolution Plan Approval Are Inadmissible
NCLAT held that while statutory assessments are permissible, they are unenforceable during the moratorium, and claims filed after the...
Mar 263 min read
49 views
Mere Pendency of Arbitration or Settlement Proposals Does Not Bar Admission of a Section 7 Application Once Debt and Default Are Established
NCLAT held that the mere pendency of arbitration or settlement proposals does not bar the admission of a Section 7 application once debt...
Mar 254 min read
22 views
Although Non-Adjudicatory, a Chief Judicial Magistrate’s Role Under Section 14 of the SARFAESI Act Mandates Due Application of Mind
The High Court held that although non-adjudicatory, a Chief Judicial Magistrate’s role under Section 14 of the SARFAESI Act mandates due...
Mar 253 min read
145 views
Statutory Claims Stand Extinguished If Not Submitted During CIRP – Supreme Court Reaffirms Binding Nature of Approved Resolution Plan
The Supreme Court reaffirmed that statutory claims stand extinguished if not submitted during the Corporate Insolvency Resolution Process...
Mar 213 min read
179 views
NCLAT: Extension Beyond 90 Days for E-Auction Payment is Impermissible, Emphasizing Strict Adherence to Liquidation Timelines
NCLAT held that an extension beyond 90 days for e-auction payment is impermissible, emphasizing the need for strict adherence to...
Mar 194 min read
57 views
Cheque Bounce Proceedings Against Director Unsustainable as Cause of Action Arose Post-Moratorium Under IBC
Supreme Court ruled that cheque bounce proceedings against the director are unsustainable as the cause of action arose after the...
Mar 193 min read
129 views
IBBI Mandates Enhanced Disclosure of Carry Forward Losses in Information Memorandum
The Insolvency and Bankruptcy Board of India (IBBI) , through its Circular No. IBBI/CIRP/83/2025 , has directed all Insolvency...
Mar 181 min read
56 views
IBBI and World Bank Conduct Workshop on Enterprise Group and Cross-Border Insolvency
The Insolvency and Bankruptcy Board of India (IBBI) , in collaboration with the World Bank , organized a Workshop on Enterprise Group...
Mar 181 min read
28 views
Workshop on Insolvency of Micro, Small, and Medium Enterprises (MSMEs)
The Insolvency and Bankruptcy Board of India (IBBI) and the World Bank jointly organized a Workshop on Insolvency of MSMEs  on March 11,...
Mar 181 min read
41 views
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