NCLAT
Section 7 IBC application must confine to the defaults committed after Section 10A period: NCLAT
“When the Section 7 of Insolvency and Bankruptcy Code, 2016 (IBC) application is based on default committed subsequent to Section 10-A of the IBC period and the amount claimed subsequent to Section 10-A of the IBC period is well beyond threshold, application cannot be rejected on the ground.”
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.
Climate, Economic Tribunals and Turnarounds take centre stage on Day 3 of the 4th ILA Conference
On Day 3 of the 4th Insolvency Law Academy Annual Conference, discussions centred on climate change and insolvency, institutional challenges facing economic law tribunals, the evolving turnaround framework, and contemporary insolvency scholarship.
“Way forward is not radical reinvention but institutional course correction”: Justice N.V. Ramana speaks at Day 1 of the 4th ILA Conference
Day 1 of the much-awaited 4th ILA Conference featured erudite addresses and insights from leading insolvency experts and distinguished dignitaries on insolvency law and policy, global trends in restructuring, the changing geopolitical landscape, and cinema as a lens and mirror for the economy.
Tribunals and Commissions November 2025 | Dead worm found in Veg Biryani; Disallowance deleted in Aishwarya Rai Bachchan case; Rajasthan bus fire tragedy; & more
Explore the key legal developments of November 2025, featuring CCI’s power to examine patented product disputes, dead worm found in Veg Biryani, deletion of disallowance against Aishwarya Rai Bachchan, grieving father bribing ambulance, woman’s death at Jammu-based Super Specialty Hospital and Rajasthan bus fire tragedy.
Sale of encumbered assets with secured creditors’ consent permitted under CIRP Regulation 29: NCLAT
Commercial wisdom of the CoC in choosing the mode and counter-party of sale of assets, whether core or non-core, encumbered or unencumbered, is non-justiciable, barring jurisdictional or regulatory violations.
SC issues notice in appeal challenging lay-offs during insolvency: Key questions raised on IBC-ID Act Conflict
The appeal challenges the NCLAT’s order upholding a purported lay-off by Resolution Professional, which the appellant claims was a disguised and unlawful retrenchment. The Court is set to examine whether IBC overrides ID Act provisions and whether such retrenchments can legally occur under the garb of lay-offs during insolvency proceedings.
Creditor’s name not essential in balance sheet for acknowledgment of debt to extend limitation period; Supreme sets aside NCLAT Order; Allows IFIN’s plea
The judgment reaffirmed the principle that entries in a corporate debtor’s balance sheet can constitute an acknowledgment of liability under Section 18 of the Limitation Act, provided they indicate a subsisting jural relationship between the parties, even if the financial creditor is not named explicitly. The Court emphasised that such entries must be interpreted liberally and in context, considering the overall tenor of the balance sheet and the surrounding circumstances.
‘Resolution plans comply with IBC and CIRP Regulations’; NCLT approves Adani Properties acquisition of two HDIL assets
Reiterating that the commercial wisdom of the CoC is to be given paramount importance for approval/rejection of the Resolution Plan, the NCLT held that the Resolution Plans in the present case met the requirements of the IBC and the IBBI Regulations, and thus, had to be approved.
Read why NCLAT denied staying CCI order against UFO Moviez, Qube Cinema, Scrabble Digital
“Investigation has also revealed no other independent player apart from DNEG has attempted to enter the market over the last few years, which shows the enforcement of appellants model has been a significant barrier for independent players to venture into cloning and delivery of content by the appellants.”
‘Interlocutory and Consensual Order’; NCLAT denies relief to BYJU’s in appeal filed against NCLT’s status quo order on its shareholding in Aakash
“The impugned order is exclusively interlocutory in nature which is yet to be considered on merits and yet to be given a final shape till the conduct of the final hearing when the interim reliefs prayed for, are heard and decided by the Tribunal.”
‘Single Homebuyer can’t challenge CoC approved Resolution Plan’; NCLAT upholds CoC’s commercial wisdom
The Resolution Plan has been approved by 83.46% voting share of the CoC, therefore, at the instance of Appellant, approval of Resolution Plan cannot be allowed to be questioned.”
Zee Entertainment guarantor’s liability arises only upon invocation of demand guarantee by IDBI: NCLAT dismisses IDBI’s plea to initiate CIRP
“There shall be liberty to the appellant to file a fresh Section 7 application for any default on the part of the corporate debtor subsequent to 10A period.”
Read why Supreme Court upheld DHFL’s resolution plan by Piramal Capital and set aside NCLAT’s order
“There is a clear distinction between the Avoidance Applications that may be filed by the Resolution Professional in view of Section 25(2)(j), for avoidance of transactions in accordance with Chapter III of the IBC, and the applications that may be filed in respect of the fraudulent trading or wrongful trading under Section 66, which falls under Chapter VI of the IBC.”
Acknowledgment of Balance Sheet under Section 18 of Limitation Act to be counted from date of signing of Balance Sheet: NCLAT
“There is no mandatory requirement for factorising the date of uploading of the balance sheet on the MCA portal for computing the period of limitation.”
Electricity is an “essential service” under Section 14(2) IBC; can’t be discontinued even if dues remain unpaid during CIRP: NCLAT
“If the Corporate Debtor operates as a manufacturing facility, then electricity may be treated as critical service by the insolvency professional and the dues for such services must be paid.”
Financial Creditors’ involvement in project monitoring does not absolve Corporate Debtors from repayment obligations: NCLAT
“Any dispute even pending in the arbitration does not in any manner prohibit the financial creditor to take remedy under Section 7 IBC.”
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.”