NCLT Targets Case Backlog with Single-Judge Benches—What Changes Now
The National Company Law Tribunal has issued an order streamlining proceedings by empowering Single Judicial Member Benches to hear defined classes of matters across all benches.
Insolvency Proceedings
IBC is a complete code with inbuilt remedies; MP HC denies relief to personal guarantors of Extol Industries in ₹24.83 Crore Bank of Baroda dispute
The Court noted that despite filing an appeal before the NCLAT, the petitioners filed the present writ petition challenging the demand notice issued by the Bank.
Corporate & Commercial Law 2025: How Courts, Regulators and Lawmakers reinforced accountability and curbed abuse
This roundup highlights key 2025 corporate and commercial law developments from Adani’s HDIL resolution and Vedanta’s demerger setback to SEBI’s insider trading penalties, Google’s CCI settlement, and the pump-and-dump ban involving actor Arshad Warsi.
S. 138 NI Act action against Directors continues despite prior initiation of IBC proceedings; Bombay High Court reiterates
“It made no difference whether the NI Act proceedings were initiated prior to initiation of IBC proceeding or thereafter as it was a settled principle that natural persons could not escape from their personal liability under Section 138 of the NI Act.”
Supreme Court stays coercive action against insolvent guarantors in 11 pending criminal cases under NI Act and PSS Act; Issues notice
The case raises a critical legal intersection between debt recovery prosecutions and the insolvency resolution framework. A ruling that could reshape how courts handle cheque dishonour and payment-related offences against financially distressed individuals who are already undergoing insolvency proceedings, thereby preventing procedural overlap from undermining the statutory “fresh start” promised by the IBC.
Know Why Supreme Court decided to recall its judgment ordering liquidation of BPSL & rejecting JSW’s Resolution Plan
Recalling the previous judgment dated 2-5-2025, the Court found that this was a fit case warranting exercise of review jurisdiction vested in the Supreme Court.
Withdrawal of CIRP — Oscillating between Value Maximisation and Plan Approval
by Sidharth Sethi*, Shreya Sircar** and Kunal Saini***
Proviso to S. 31(4) IBC mandatory in nature; Breakdown of SC’s 2:1 verdict holding AGI Greenpac’s Resolution Plan for HNGIL unsustainable
“Legislative intent behind inserting the proviso to Section 31(4) of the IBC would suggest that prior approval of the CCI was specifically mandated and it should not be seen as a flexible provision to be ignored in certain exigencies.”
NCLT allows liquidation of Go First Airways
“Decision taken by the CoC for liquidation in commercial wisdom of the CoC should not be interfered with by the Adjudicating Authority.”
Supreme Court overturns NCLAT judgment that closed insolvency process against Byju’s, following settlement with BCCI
The present appeal raises substantial questions about the legal framework governing the withdrawal of a CIRP; the settlement of claims after the admission of an application instituted by a debtor; and the scope of the inherent powers vested in the NCLAT under Rule 11 of the NCLAT Rules.
‘Arbitrary, illegal and in colourable exercise of power’; P&H HC directs Union Bank of India to refund forfeited amount deposited by auction purchaser
The bank has acted in an arbitrary and illegal manner by claiming that the entire bid amount shall be deposited by the petitioner, while on the other hand, avoiding the question of the supervening legal impossibility, which debarred them from issuing Sale Certificate or handing over the physical possession of the property to petitioner.
Insolvency proceeding under Section 95 IBC can’t be continued against legal heirs after personal guarantor’s death: NCLT
“The term “personal guarantor” is defined under Section 5(22) of the IBC as “personal guarantor” means an individual who is the surety in a contract of guarantee to a corporate debtor.”
Recovering Foreign Award Debts in Insolvency Proceedings
by Kartikey Mahajan, Siddhant Sharma and Jatan Rodrigues
Cite as: 2022 SCC OnLine Blog Exp 87
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.
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
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.”
IBC – Section 7(5)(a) | NCLT “may” reject Financial Creditor’s CIRP application even in case of Corporate Debtor’s default in payment of debt
Supreme Court: The bench of Indira Banerjee* and JK Maheshwari, JJ has rejected the view of NCLT and NCLAT that once it
NCLT| Auction purchaser responsible for claims/ liabilities/ obligations of Corporate Debtor
National Company Law Tribunal, Mumbai: The coram of H.V. Subba Rao, Judicial Member and Chandra Bhan Singh, Technical Member, declared that the
IBC| Once CIRP is initiated and moratorium is ordered, proceedings under SARFAESI Act cannot continue: Supreme Court
Supreme Court: The bench of L. Nageswara Rao and BR Gavai*, JJ has held that the proceedings under the Securitisation and Reconstruction
Once insolvency proceedings are put on Stay, Can resolution professionals still be entitled to fees during Stay? NCLAT answers
National Company Law Appellate Tribunal (NCLAT), New Delhi: In a matter with regard to fees of resolution professional, the Coram of Justice