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REEDNews
Latest News on the Insolvency, Bankruptcy and Debt Recovery laws
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...
3 hours ago4 min read
47 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...
4 hours ago3 min read
21 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...
19 hours ago4 min read
11 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...
5 days ago3 min read
164 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
52 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
125 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
53 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
27 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
52 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
58 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
315 views
Statutory Dues Under the Electricity Act Prevail Over the IBC’s Clean Slate Principle: NCLAT Upholds Liability for Fuel Surcharge and Special Fuel Surcharge
NCLAT upheld the liability for Fuel Surcharge and Special Fuel Surcharge, ruling that statutory dues under the Electricity Act prevailed...
Mar 123 min read
88 views
Delay in Challenging Auction and Issuance of Sale Certificate Renders Appeal Futile: NCLAT Upholds Validity of Liquidation Process
NCLAT upheld the validity of the liquidation process as the delay in challenging the auction and the issuance of the sale certificate...
Mar 113 min read
60 views
Limitation Period for Appeals Cannot Be Extended by Subsequent Modification Orders: NCLAT and Supreme Court Uphold Dismissal
The NCLAT and the Supreme Court upheld the dismissal, ruling that the limitation period for appeals could not be extended by subsequent...
Mar 113 min read
52 views
Supreme Court Allows Special Court to Proceed with Restitution Application Despite Pending Appeal Under PMLA
The Supreme Court allowed the Special Court to proceed with the restitution application despite the pending appeal under the PMLA. On...
Mar 103 min read
70 views
CIRP Extensions Beyond 330 Days Justified and Non-Disclosure of Valuation Report to Operational Creditor Held Non-Prejudicial
NCLAT held that CIRP extensions beyond 330 days were justified and that the non-disclosure of the valuation report to the Operational...
Mar 94 min read
55 views
Pre-Existing Dispute Evidenced Through Prior Communications Bars Initiation of CIRP Under Section 9 of the IBC
NCLAT held that a pre-existing dispute evidenced through prior communications barred the initiation of CIRP under Section 9 of the IBC....
Mar 73 min read
43 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
Interim Moratorium Under Section 96 of IBC Does Not Shield Personal Guarantors from Consumer Protection Penalties
The Supreme Court held that the interim moratorium under Section 96 of the IBC did not shield personal guarantors from penalties imposed...
Mar 73 min read
33 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
74 views
Invocation of Guarantee is a Mandatory Pre-Condition for Initiating Insolvency Proceedings Against a Personal Guarantor Under Section 95 of the IBC
NCLAT ruled that the invocation of a guarantee is a mandatory pre-condition for initiating insolvency proceedings against a personal...
Mar 53 min read
93 views
Allegations of Mismanagement or Shareholding Disputes Cannot Hinder Admission of Section 7 Application if Debt Acknowledgment and Default Are Established
NCLAT held that allegations of mismanagement or shareholding disputes cannot hinder the admission of a Section 7 application if debt...
Mar 24 min read
45 views
NCLAT Holds Section 7 Application Barred by Limitation as Cause of Action Arose Upon Agreement Expiry, and Acknowledges Debt Repayment by Corporate Debtor
NCLAT held that the Section 7 application was barred by limitation as the cause of action arose upon the expiry of the agreement and...
Mar 24 min read
52 views
NCLAT Upholds Exclusion of Related Party from CoC, Affirms RP’s Authority Under Section 5(24) of IBC
NCLAT upheld the exclusion of a related party from the CoC and affirmed the RP’s authority under Section 5(24) of the IBC. The National...
Mar 24 min read
56 views
NCLAT Upholds IBC Supremacy Over TRAI Act, Declares Financial Disincentives as Operational Debt, and Rejects Trust Claim on Subscriber Deposits During CIRP
The NCLAT upheld the supremacy of the IBC over the TRAI Act, ruled that financial disincentives constituted operational debt, and...
Mar 14 min read
48 views
Moratorium Under Section 14(1)(d) Bars Recovery of Property Occupied by the Corporate Debtor
NCLAT ruled that the moratorium under Section 14(1)(d) bars the recovery of property occupied by the Corporate Debtor. The National...
Feb 283 min read
76 views
Unconditional Withdrawal of Arbitration Petition Bars Fresh Filing; IBC Proceedings Do Not Justify Exclusion Under Section 14 of the Limitation Act
The Supreme Court ruled that the unconditional withdrawal of an arbitration petition bars fresh filing and held that IBC proceedings do...
Feb 283 min read
44 views
Termination of Arbitration Proceedings Under Section 32(2) of the Arbitration Act Does Not Constitute a Binding Award—NCLT Has Jurisdiction Under IBC to Determine Corporate Debtor’s Rights Over Disput
NCLAT held that the termination of arbitration proceedings under Section 32(2) of the Arbitration & Conciliation Act, 1996, does not...
Feb 274 min read
53 views
Mere Pendency of SARFAESI Proceedings Does Not Establish Fraudulent Intent Under Section 65 of the IBC – NCLAT Sets Aside Rejection of Section 10 Application
NCLAT held that the mere pendency of SARFAESI proceedings does not establish fraudulent intent under Section 65 of the IBC and sets aside...
Feb 273 min read
43 views
Liquidator Cannot Invoke NCLT Jurisdiction Under Section 60(5) of IBC for Debt Recovery – NCLAT Upholds Refund of Margin Money
NCLAT held that the Liquidator cannot invoke NCLT jurisdiction under Section 60(5) of the IBC for debt recovery and upheld the refund of...
Feb 273 min read
91 views
Pre-CIRP Electricity Dues Stand Extinguished If Not Claimed During Resolution Process – NCLAT Upholds Primacy of IBC Over Electricity Act
NCLAT upheld the primacy of the IBC over the Electricity Act and ruled that pre-CIRP electricity dues stood extinguished as PSPCL had...
Feb 263 min read
79 views
IBC Limitation Period Begins from Date of Default – Pendency of Recovery Proceedings Does Not Extend Limitation
NCLAT held that the limitation period under the IBC began from the date of default and that the pendency of recovery proceedings does not...
Feb 253 min read
136 views
Section 10A of the IBC Does Not Apply When Default Occurred Prior to the Cut-Off Period, Irrespective of a Subsequent Recall Notice
NCLAT held that Section 10A of the IBC did not apply as the default had occurred prior to the cut-off period, irrespective of the...
Feb 253 min read
55 views
CoC Directed to Reconsider MSME Promoter’s Request for Relaxation in Eligibility Criteria Before Proceeding with CIRP
NCLAT directed the CoC to reconsider the MSME promoter’s request for relaxation in eligibility criteria before proceeding with the CIRP....
Feb 254 min read
87 views
NCLAT Upholds Personal Guarantor's Liability and Creditor’s Right to Initiate Insolvency Proceedings Under Section 95 of IBC Despite Assignment of Debt
The NCLAT upheld the Personal Guarantor's liability and the Creditor’s right to initiate insolvency proceedings under Section 95 of the...
Feb 243 min read
82 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
High Court Cannot Interdict Personal Insolvency Proceedings at a Premature Stage, Must Allow Statutory Process Under IBC to Take Its Course
The High Court erred in interdicting personal insolvency proceedings at a premature stage and failed to allow the statutory process under...
Feb 214 min read
96 views
NCLAT Sets Aside NCLT Order for Prematurely Accepting Resolution Professional’s Report Without Considering Extension Request
The NCLAT set aside the NCLT’s order for prematurely accepting the Resolution Professional’s report without first considering the...
Feb 212 min read
138 views
NCLAT Rejects Riju Raveendran’s Plea to Exclude ₹158 Crore BCCI Settlement from CoC Oversight
The NCLAT rejected Riju Raveendran’s plea to exclude the ₹158 crore BCCI settlement from CoC oversight. On February 19, 2025, the...
Feb 212 min read
43 views
NCLAT Upholds Rejection of Belated Claim and Interest, Affirms Finality of Liquidator’s Decision Under Section 42 of IBC
NCLAT upheld the rejection of the belated claim and interest, affirming the finality of the Liquidator’s decision under Section 42 of the...
Feb 204 min read
95 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
149 views
Extension of EoI and Resolution Plan Submission Timelines with CoC Approval Does Not Require Fresh Form G and Cannot Be Challenged Post-Participation
NCLAT held that the extension of EoI and Resolution Plan submission timelines with CoC approval does not require a fresh Form G and...
Feb 194 min read
180 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
Approval of a Resolution Plan Does Not Discharge Personal Guarantors' Liability, Reaffirms NCLAT
NCLAT reaffirmed that the approval of a Resolution Plan does not discharge the liability of personal guarantors. The National Company Law...
Feb 193 min read
52 views
Bankrupt Individual Cannot Seek Own Discharge Under Section 138(1) of IBC
NCLT ruled that a bankrupt individual cannot seek their own discharge under Section 138(1) of IBC. The NCLT New Delhi Bench, comprising...
Feb 183 min read
83 views
NCLAT Chennai Bench Set Aside NCLT’s Admission of Section 9 Application Due to Established Pre-existing Dispute
The NCLAT Chennai Bench set aside the NCLT's admission of the Section 9 application due to the establishment of a pre-existing dispute....
Feb 182 min read
61 views
Failure to Establish Sufficient Cause for Delay in Refiling Leads to Dismissal Under the Time-Bound Framework of IBC
NCLAT held that the failure to establish sufficient cause for the delay in refiling led to the dismissal of the application, emphasizing...
Feb 183 min read
60 views
Insolvency and Bankruptcy Board of India (IBBI) Mandates Intimation of Appointments by Insolvency Professionals
The Insolvency and Bankruptcy Board of India (IBBI) , through its circular dated 11th February 2025 (No. IBBI/LIQ/82/2025) , has directed...
Feb 161 min read
93 views
Appointment of Dr Bhushan Kumar Sinha as a Whole-Time Member of the IBBI
The Ministry of Corporate Affairs, through its notification dated 12th February 2025 , has appointed Dr. Bhushan Kumar Sinha , Former...
Feb 161 min read
82 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
125 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
59 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
206 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
89 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
58 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
79 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
125 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
54 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
38 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
31 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
48 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
63 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
29 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
28 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
23 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
47 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
RBI August 2024 Update: Modest Rise in Lending and Deposit Rates Reflects Gradual Adjustment in Banking Sector
In August 2024, the Reserve Bank of India (RBI) released updated data on lending and deposit rates for Scheduled Commercial Banks (SCBs),...
Sep 3, 20242 min read
6 views
NCLAT Upholds Insolvency Proceedings, Affirming that Financial Disputes Fall Within the Jurisdiction of Insolvency Laws Despite Civil Court Injunctions
The NCLAT upheld the insolvency proceedings, affirming that financial disputes fall within the jurisdiction of insolvency laws, even in...
Sep 2, 20243 min read
25 views
High Court Dismisses Contempt Petition, Finding No Willful Disobedience in Context of Insolvency and Arbitration Compliance
The High Court dismissed the contempt petition, finding no willful disobedience in the context of compliance with insolvency and...
Aug 31, 20243 min read
28 views
High Court Overrules Lookout Circular (LOC) for Loan Default: Reinforces Fundamental Right to Travel
The High Court overruled the Lookout Circular issued due to loan default, reinforcing the fundamental right to travel. The Delhi High...
Aug 29, 20242 min read
58 views
IBBI Invites EoI from Institutions to Develop a Post Graduate Insolvency Programme (PGIP) Aimed at Cultivating Highly Qualified Insolvency Resolution Experts
The Insolvency and Bankruptcy Board of India (IBBI) is seeking Expressions of Interest (EoI) from eligible institutions to conduct the...
Aug 28, 20241 min read
24 views
SARFAESI Proceedings Cannot Continue Post-Moratorium Under IBC if Sale Stage Not Reached
High Court held that the SARFAESI proceedings cannot continue post-moratorium under IBC if the sale Stage is not reached. The Delhi High...
Aug 25, 20242 min read
89 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...
1 day ago3 min read
116 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
74 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
89 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
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
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
70 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
48 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
122 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
125 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
26 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
26 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
30 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
99 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
50 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
35 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
27 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
69 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
35 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
42 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
51 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
76 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
45 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
28 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
75 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
46 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
29 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
27 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
62 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
35 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
15 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
47 views
Priority of Secured Creditor's Charge Under the SARFAESI Act Prevails Over Subsequent Purchaser's Claims
DRAT held that the priority of the secured creditor's charge under the SARFAESI Act prevailed over the claims of a subsequent purchaser...
Nov 24, 20242 min read
33 views
Lease Deed Executed Without Secured Creditor's Consent Held Invalid Under SARFAESI Act
DRAT held that a lease deed executed without the secured creditor's consent was invalid under the SARFAESI Act. The Debts Recovery...
Nov 23, 20243 min read
60 views
Unregistered Tenancy Rights Cannot Prevail Over Secured Creditors’ Claims Under the SARFAESI Act: Supreme Court Ruling
The Supreme Court ruled that unregistered tenancy rights could not prevail over secured creditors’ claims under the SARFAESI Act. The...
Nov 23, 20242 min read
44 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...
3 hours ago4 min read
47 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...
4 hours ago3 min read
21 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...
19 hours ago4 min read
11 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...
1 day ago3 min read
116 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...
5 days ago3 min read
164 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
52 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
125 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
53 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
27 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
52 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
58 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
59 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
315 views
Statutory Dues Under the Electricity Act Prevail Over the IBC’s Clean Slate Principle: NCLAT Upholds Liability for Fuel Surcharge and Special Fuel Surcharge
NCLAT upheld the liability for Fuel Surcharge and Special Fuel Surcharge, ruling that statutory dues under the Electricity Act prevailed...
Mar 123 min read
88 views
Delay in Challenging Auction and Issuance of Sale Certificate Renders Appeal Futile: NCLAT Upholds Validity of Liquidation Process
NCLAT upheld the validity of the liquidation process as the delay in challenging the auction and the issuance of the sale certificate...
Mar 113 min read
60 views
Limitation Period for Appeals Cannot Be Extended by Subsequent Modification Orders: NCLAT and Supreme Court Uphold Dismissal
The NCLAT and the Supreme Court upheld the dismissal, ruling that the limitation period for appeals could not be extended by subsequent...
Mar 113 min read
52 views
Supreme Court Allows Special Court to Proceed with Restitution Application Despite Pending Appeal Under PMLA
The Supreme Court allowed the Special Court to proceed with the restitution application despite the pending appeal under the PMLA. On...
Mar 103 min read
70 views
CIRP Extensions Beyond 330 Days Justified and Non-Disclosure of Valuation Report to Operational Creditor Held Non-Prejudicial
NCLAT held that CIRP extensions beyond 330 days were justified and that the non-disclosure of the valuation report to the Operational...
Mar 94 min read
55 views
Pre-Existing Dispute Evidenced Through Prior Communications Bars Initiation of CIRP Under Section 9 of the IBC
NCLAT held that a pre-existing dispute evidenced through prior communications barred the initiation of CIRP under Section 9 of the IBC....
Mar 73 min read
43 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
Interim Moratorium Under Section 96 of IBC Does Not Shield Personal Guarantors from Consumer Protection Penalties
The Supreme Court held that the interim moratorium under Section 96 of the IBC did not shield personal guarantors from penalties imposed...
Mar 73 min read
33 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
206 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
74 views
Invocation of Guarantee is a Mandatory Pre-Condition for Initiating Insolvency Proceedings Against a Personal Guarantor Under Section 95 of the IBC
NCLAT ruled that the invocation of a guarantee is a mandatory pre-condition for initiating insolvency proceedings against a personal...
Mar 53 min read
93 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
89 views
Allegations of Mismanagement or Shareholding Disputes Cannot Hinder Admission of Section 7 Application if Debt Acknowledgment and Default Are Established
NCLAT held that allegations of mismanagement or shareholding disputes cannot hinder the admission of a Section 7 application if debt...
Mar 24 min read
45 views
Withdrawal of CIRP Under Section 12A Constitutes Full and Final Settlement, Rendering Deposited Amount Non-Refundable Except Where No Forfeiture Clause Exists
NCLAT held that the withdrawal of CIRP under Section 12A constitutes a full and final settlement, rendering the deposited amount...
Mar 23 min read
42 views
NCLAT Holds Section 7 Application Barred by Limitation as Cause of Action Arose Upon Agreement Expiry, and Acknowledges Debt Repayment by Corporate Debtor
NCLAT held that the Section 7 application was barred by limitation as the cause of action arose upon the expiry of the agreement and...
Mar 24 min read
52 views
NCLAT Upholds Exclusion of Related Party from CoC, Affirms RP’s Authority Under Section 5(24) of IBC
NCLAT upheld the exclusion of a related party from the CoC and affirmed the RP’s authority under Section 5(24) of the IBC. The National...
Mar 24 min read
56 views
NCLAT Upholds IBC Supremacy Over TRAI Act, Declares Financial Disincentives as Operational Debt, and Rejects Trust Claim on Subscriber Deposits During CIRP
The NCLAT upheld the supremacy of the IBC over the TRAI Act, ruled that financial disincentives constituted operational debt, and...
Mar 14 min read
48 views
Moratorium Under Section 14(1)(d) Bars Recovery of Property Occupied by the Corporate Debtor
NCLAT ruled that the moratorium under Section 14(1)(d) bars the recovery of property occupied by the Corporate Debtor. The National...
Feb 283 min read
76 views
Unconditional Withdrawal of Arbitration Petition Bars Fresh Filing; IBC Proceedings Do Not Justify Exclusion Under Section 14 of the Limitation Act
The Supreme Court ruled that the unconditional withdrawal of an arbitration petition bars fresh filing and held that IBC proceedings do...
Feb 283 min read
44 views
Termination of Arbitration Proceedings Under Section 32(2) of the Arbitration Act Does Not Constitute a Binding Award—NCLT Has Jurisdiction Under IBC to Determine Corporate Debtor’s Rights Over Disput
NCLAT held that the termination of arbitration proceedings under Section 32(2) of the Arbitration & Conciliation Act, 1996, does not...
Feb 274 min read
53 views
Mere Pendency of SARFAESI Proceedings Does Not Establish Fraudulent Intent Under Section 65 of the IBC – NCLAT Sets Aside Rejection of Section 10 Application
NCLAT held that the mere pendency of SARFAESI proceedings does not establish fraudulent intent under Section 65 of the IBC and sets aside...
Feb 273 min read
43 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
58 views
Liquidator Cannot Invoke NCLT Jurisdiction Under Section 60(5) of IBC for Debt Recovery – NCLAT Upholds Refund of Margin Money
NCLAT held that the Liquidator cannot invoke NCLT jurisdiction under Section 60(5) of the IBC for debt recovery and upheld the refund of...
Feb 273 min read
91 views
Pre-CIRP Electricity Dues Stand Extinguished If Not Claimed During Resolution Process – NCLAT Upholds Primacy of IBC Over Electricity Act
NCLAT upheld the primacy of the IBC over the Electricity Act and ruled that pre-CIRP electricity dues stood extinguished as PSPCL had...
Feb 263 min read
79 views
IBC Limitation Period Begins from Date of Default – Pendency of Recovery Proceedings Does Not Extend Limitation
NCLAT held that the limitation period under the IBC began from the date of default and that the pendency of recovery proceedings does not...
Feb 253 min read
136 views
Section 10A of the IBC Does Not Apply When Default Occurred Prior to the Cut-Off Period, Irrespective of a Subsequent Recall Notice
NCLAT held that Section 10A of the IBC did not apply as the default had occurred prior to the cut-off period, irrespective of the...
Feb 253 min read
55 views
CoC Directed to Reconsider MSME Promoter’s Request for Relaxation in Eligibility Criteria Before Proceeding with CIRP
NCLAT directed the CoC to reconsider the MSME promoter’s request for relaxation in eligibility criteria before proceeding with the CIRP....
Feb 254 min read
87 views
NCLAT Upholds Personal Guarantor's Liability and Creditor’s Right to Initiate Insolvency Proceedings Under Section 95 of IBC Despite Assignment of Debt
The NCLAT upheld the Personal Guarantor's liability and the Creditor’s right to initiate insolvency proceedings under Section 95 of the...
Feb 243 min read
82 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
79 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
High Court Cannot Interdict Personal Insolvency Proceedings at a Premature Stage, Must Allow Statutory Process Under IBC to Take Its Course
The High Court erred in interdicting personal insolvency proceedings at a premature stage and failed to allow the statutory process under...
Feb 214 min read
96 views
NCLAT Sets Aside NCLT Order for Prematurely Accepting Resolution Professional’s Report Without Considering Extension Request
The NCLAT set aside the NCLT’s order for prematurely accepting the Resolution Professional’s report without first considering the...
Feb 212 min read
138 views
NCLAT Rejects Riju Raveendran’s Plea to Exclude ₹158 Crore BCCI Settlement from CoC Oversight
The NCLAT rejected Riju Raveendran’s plea to exclude the ₹158 crore BCCI settlement from CoC oversight. On February 19, 2025, the...
Feb 212 min read
43 views
NCLAT Upholds Rejection of Belated Claim and Interest, Affirms Finality of Liquidator’s Decision Under Section 42 of IBC
NCLAT upheld the rejection of the belated claim and interest, affirming the finality of the Liquidator’s decision under Section 42 of the...
Feb 204 min read
95 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
149 views
Extension of EoI and Resolution Plan Submission Timelines with CoC Approval Does Not Require Fresh Form G and Cannot Be Challenged Post-Participation
NCLAT held that the extension of EoI and Resolution Plan submission timelines with CoC approval does not require a fresh Form G and...
Feb 194 min read
180 views
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