2022: The year of 1263 judgments; 3 CJIs; and important firsts| An all inclusive Supreme Court roundup
With 1263 judgments delivered; three Chief Justices of India taking turns to lead the judiciary; a number of judges retiring and a
IBC
NCLAT | No provision for making any modification in the resolution plan; Adjudicating Authority can either approve or reject it
National Company Law Appellate Tribunal held that there is no provision in Insolvency Bankruptcy Code, 2016 for alteration or modification in the resolution plan by the Adjudicating Authority
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
Claims of various stakeholders to be considered by Resolution Professional in accordance with law; NCLT, Chandigarh emphasizes
That various stakeholders are to be considered by the Resolution Professional under the relevant provisions of IBC andin accordance with law, and the same should be placed before the CoC for approval. Thus, the resolution plan was sent back for approval by the Committee of Creditors.
The Clean Slate Theory – IBC’s Version of Hermione’s Obliviate Spell
by Akaant Kumar Mittal†
Cite as: 2022 SCC OnLine Blog Exp 83
Tweaking the Thresholds under IBC through Indexation
by M.P. Venkateshwara Perumal*
Know Thy Judge- Justice Bhushan Ramkrishna Gavai
by Sucheta Sarkar†
Call for Blogs | Restructuring and Insolvency Law Journal (RILJ Blog) of NUALS [Rolling Submissions]
About NUALS The National University of Advanced Legal Studies is a uni-disciplinary university in Kochi, Kerala, India for undergraduate, graduate
Delhi High Court | PMLA seeks to subserve a larger public policy imperative; Moratorium under S.14 IBC does not affect ED’s attachment power under PMLA
An order of attachment when made under the PMLA does not result in the corporate debtor or the Resolution Professional facing a fait accompli.
[Top 15 Rulings from Tribunals and Commissions] GST; MakeMyTrip, Goibibo, OYO and Google penalized by CCI; Violation of Code of Ethics & Broadcasting Standards by News18; Bombay Dyeing and Wadia Group penalized by SEBI etc.
Authority for Advance Ruling (AAR) Gujarat Authority for Advance Ruling| ‘Combined Wire Rope’ not a part of the fishing vessel, thus, not
IBC| CIRP proceedings can be initiated against two Corporate Debtors but same amount cannot be realised from both: Supreme Court
Supreme Court: The bench of Indira Banerjee* and JK Maheshwari, JJ has held that if there are two borrowers or if two
Supreme Court September 2022| Abortion Rights to all ‘women’; Marital Rape; Pre-sentence hearing of death row convicts; Sidhique Kappan’s bail; Collegium Recommendation; and more
This roundup revisits the analyses of Supreme Court’s judgments/orders on Unmarried persons’ right to safe abortion, Inclusion of ‘marital rape’ under Abortion laws, Journalist Sidhique Kappan’s bail; Constitution Bench’s opinion on Doctrine of Precedents; Reference of question relating to Pre-sentence hearing of death row convicts; Explainers on important law points; Collegium Recommendation; and more
IBC-Limitation| Pendency of proceedings in a parallel forum not sufficient cause for delay in filing Section 9 IBC application: Supreme Court
“A claim may not be barred by limitation. It is the remedy for realisation of the claim, which gets barred by limitation.”
Withdrawal under Section 12-A IBC: Remedial Mechanism in the Interest of Stakeholders
by Amir Bavani*, Rishika Kumar** and Ayushi Verma***
IBC’s Section 53 does not over-ride Section 48 of GVAT Act; Adjudicating Authority may reject Resolution Plan if it ignores statutory dues payable to State/Legal authority: SC
Supreme Court: The bench of Indira Banerjee* and AS Bopanna, JJ has reversed the NCLAT order wherein it was held that the
Explained| Retroactive, True Retroactivity, Quasi-retroactivity, and Retrospective: Synonymous or distinct?
“Merely because a law operates on certain circumstances which are antecedent to its passing does not mean that it is retrospective.”
SC upholds applicability of SEBI Circular; but gives a green signal to Reliance Commercial Finance resolution to avoid “unscrambling of resolution process”
“Such unscrambling of the resolution process will not only prove time-consuming, but may also adversely affect the agreed realized gains to the retail debenture holders, who have already consented to the negotiated settlement before the High Court.”
2022 SCC Vol. 7 Part 4
Constitution of India — Arts. 300-A and 31 — Expropriation of private property by State — Compensation — Entitlement: State
What is the effect of commencement of proceedings under the IBC, over any pending proceedings before another Court or Tribunal? ITAT discusses
Income Tax Appellate Tribunal (ITAT), Hyderabad: While deciding the instant appeal in the backdrop of Corporate Insolvency Resolution Proceedings (CIRP) pending against
IBC prevails over Customs Act once moratorium is imposed; CBIC has limited jurisdiction, cannot initiate recovery of dues: Supreme Court
Supreme Court: The 3-judge bench of NV Ramana*, CJ and JK Maheshwari and Hima Kohli, JJ has held that the Insolvency and