Stay informed about the latest case laws on Company Law with this comprehensive overview as we delve into the latest cases reported in the Company Cases (Comp Cas), focusing on critical issues such as resolution plan, moratorium, winding up, liquidation and wilful defaulters.
(2025) 261 Comp Cas
Insolvency and Bankruptcy Laws — Resolution plan — Insolvency resolution — Effect of approval — Demands made by state government related to periods prior to approval of resolution plan — Approved resolution plan attaining finality — Held, not open to respondents to raise demands for periods before approval — Letters raising demands set aside [Orissa Manganese & Minerals Ltd. v. State of Odisha, (2025) 261 Comp Cas 280]
Insolvency and Bankruptcy Laws — Moratorium — Arbitration — Stay of arbitral proceedings consequent to moratorium under insolvency law —Held, no provision in law for stay against only some but not all parties — Arbitration proceedings to be decided in entirety [Tata Capital Ltd. v. Geeta Passi, (2025) 261 Comp Cas 389]
Insolvency and Bankruptcy Laws — Liquidation — Claims against company — E-auction of assets of corporate debtor — Sale certificate issued to successful bidder transferring property free of encumbrances — Held, successful bidder not liable for tax dues prior to acquisition of corporate debtor’s assets under Insolvency and Bankruptcy Code, 2016 [Maha Mineral Mining & Benefication (P) Ltd. v. Gram Panchayat, (2025) 261 Comp Cas 551]
(2025) 256 Comp Cas
Corporate Laws — Company Law — Winding up and Liquidation — Transfer for benefit of creditors to be void — Sale agreement entered into after admission of winding up petition on basis of one-time settlement between company and secured creditor — Held, valuation report showing undervaluation — Sale agreement void [Zhejiang Medicines & Health Products, In re, (2025) 256 Comp Cas 1]
Corporate Laws — Company Law — Offences and prosecution — Anticipatory bail — Liability of director — Co-operative society formed by family group — Director signing and filing financial statements containing false information knowing it to be false and omitting material information — Held, no reasonable ground to believe that he has not committed offence [Vijay Shukla v. SFIO, (2025) 256 Comp Cas 89]
Insolvency and Bankruptcy — Resolution plan — Insolvency Resolution — Arbitration laws — Arbitral proceedings initiated by operational creditor prior to initiation of insolvency resolution process —Suspended during moratorium period and resumed upon lifting of moratorium — Held, approved resolution plan does not determine claim of operational creditor — Facilitation council does not lose its jurisdiction to proceed and pronounce arbitral award on account of approval of insolvency resolution plan [Electrosteel Steel Ltd. v. Ispat Carriers (P) Ltd., (2025) 256 Comp Cas 305]
Corporate Laws —Company Law — Offences and Prosecution — Anticipatory Bail — General principles governing grant of — Investigation complete and accused co-operating with investigation — Held, anticipatory bail to be granted [Aditya Sarda v. SFIO, (2025) 256 Comp Cas 386]
Debt, Financial and Monetary Laws — Recovery of Debts — Wilful defaulters — Bank — Show-cause notice — Documents on basis of which show-cause notice issued not provided to director of borrower company — Objective of show-cause notice to arrive at truth as to whether or not an individual in question to subjected to penal consequences — Held, information referred to and relied upon in show-cause notice to be supplied to noticee [Ankit Bhuwalka v. IDBI Bank Ltd., (2025) 256 Comp Cas 446]
Debt, Financial and Monetary Laws — Financial institution — Bank — Secured Creditor — Definition — Non-banking financial company — Notification prescribing that creditor must have assets worth at least Rs. 100 crores — Held, company not having assets worth Rs. 100 crores not secured creditor so as to invoke provisions of Section 14 of SARFAESI Act, 2002 [Pyramid Developers v. Union of India, (2025) 256 Comp Cas 659]
