Can a third party take back goods from a company in CIRP? NCLT dismisses Ancile’s Claim to pharmaceutical goods
NCLT Mumbai found the Istisna and Wakala arrangement financial, and the claimed goods could not be found.
2016
Forensic Audit of Project Accounts Permissible During CIRP; Rajasthan RERA Holds Section 14 IBC No Bar to Regulatory Inquiry
With expenditure claimed at 75—77% of project cost against actual physical progress of only 48.13%, the Authority ordered a limited forensic audit of the Avalon Royal Park project, distinguishing the RERA audit from IBC insolvency audit provisions and holding that the two frameworks can operate harmoniously without conflict.
Who is a ‘Secured Creditor’ Under IBC? Not the VAT Authority, Says Madras HC; Quashes Attachment of Property
“Once an order of liquidation is passed and a statutory liquidator is appointed, the assets of the corporate debtor are required to be dealt with in accordance with Section 53 IBC i.e. the “waterfall mechanism” and the dues are to be paid in the order of priority set out in the section. Section 238 IBC contains a non-obstante clause giving primacy to the mechanism for distribution of the assets of the corporate debtor in the manner prescribed under the IBC.”
Section 14 IBC Moratorium a Protective Shield Against Asset Depletion; Statutory Authorities Cannot Recover Leasehold Property During CIRP: Gujarat HC
“The Statement of Object and Reasons of the Code says that the aim is to improve ease of doing business and facilitate more business leading to higher economic growth and development.”
Insolvency and Bankruptcy Code (Amendment) Bill, 2025 proposes group and cross- border insolvency
Proposed amendment aims to improve its operation, enhance its effectiveness, clarify its original intent and incorporate novel concepts.
Inside Delhi HC ruling directing GD Goenka school to re-admit child with mild autism; highlighting inclusivity in educational institutions
‘Inclusive education’ is not merely about access to education, it is about belongingness. It is also about recognising that every child has a place in the classroom not because they are the same, but because they are different, and that difference enriches the learning environment for all.’
Supreme Court orders Uttarakhand Govt. to pay Rs. 1 crore to family of doctor killed on duty after 9 years of legal battle
“Prima facie, even after the proposal to pay Rs. 50 lakhs to the family of the deceased were approved by the Chief Secretary, this decision has not been honored, and the family has been engaged in litigation for over nine years.”
‘Inconvenience of specific party cannot outweigh statutory provisions’; Delhi High Court directs DGCA to process deregistration of 54 leased GoAir aircrafts
“It is trite that the international treaty obligations are required to be followed strictly and any deviation therefrom would have adverse effects including downgrading of the business interests of country in the international community.”
CoCs cannot consider Resolution Plans from applicants not listed in Prospective Resolution Applicants’ List: NCLAT
NCLAT held that CoCs’ resolution not to consider Resolution Plans from additional new entrants rendered the NCLAT’s orders unsustainable.
NCLAT | Application under Section 7 IBC relating to the interest component due even if principal amount is not due, held maintainable
National Company Law Appellate Tribunal | Upholding the maintainability of an application filed under S. 7 IBC, a bench comprising of Rakesh
NCLT approves acquisition of Sterling Biotech Ltd. by US-based food tech ‘Perfect Day’
National Company Law Tribunal | In an application filed under S. 60(5) of the Insolvency and Bankruptcy Code, 2016, a
Calcutta High Court stays ED’s Provisional attachment order against the Corporate Debtor before commencement of CIRP
Calcutta High Court | While awarding the injunction, Sabyasachi Bhattacharyya, J. restrained the Enforcement Directorate from giving effect to the impugned order
Ori HC | Whether Proviso to Sub-Section (5) of S. 43 of Real Estate (Regulation and Development) Act, 2016 is ultravires of Constitution of India? HC denies
Orissa High Court: A Division Bench of S.K. Mishra and Savitri Ratho, JJ., dismissed the petition being devoid of merits. The instant
States and UTs to file compliance report of the Rights of Persons with Disabilities Act, 2016 within 12 weeks
Supreme Court: Considering the need of complying with the judgment rendered in Justice Sunanda Bhandare Foundation vs. Union of India, (2014) 14