Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The Kerala High Court declined to direct CBI/ED investigations against the resolution professional of Byju's, referencing the pending stayed FIR in Karnataka HC.
NCLT confirmed that a ₹200 crore capital infusion proposed in a resolution plan is distinct from the creditor settlement, thereby approving Hind Agro's plan under the IBC.
The NCLT ruled that a ₹200 crore future capital infusion must be treated separately from the creditor settlement under the resolution plan approved for Hind Agro.
NCLT approved Hind Agro’s ₹95 crore resolution plan, ruling that investments for future business revival cannot be included in the resolution plan value.
The NCLT ruled that a bank’s unilateral transfer of a corporate debtor’s funds cannot be reversed as a preferential transaction under Section 43 of the IBC in the absence of any preference by the debtor.
The NCLT has ruled that claims for avoidance relief under Section 43 of the IBC are invalid without evidence demonstrating that preferential treatment was granted by the corporate debtor.
The Calcutta High Court confirms that it can transfer pending winding-up proceedings at its discretion if they have not reached an irreversible stage.
The NCLT ruled that a Yes Bank loan secured on promoters’ property is to be reclassified as unsecured debt in the context of Roofco Trading's insolvency. This ruling clarifies the definition of secured debt under the IBC.
The NCLT has admitted a Section 9 plea against Evoq Remedies for failing to refund ₹1.95 crore for goods that were not delivered, initiating insolvency proceedings against the company.
The NCLT has initiated a CIRP against a paper mill due to the absence of a genuine dispute regarding an operational debt of ₹1.25 crore. An Interim Resolution Professional has been appointed.
The NCLT permitted the correction of a default date in an insolvency plea against Coffee Day Global Ltd, ruling that it constituted a clarificatory amendment and did not introduce a new claim.
The NCLT admitted insolvency proceedings after evidence of operational debt and acknowledgment of liability was presented, highlighting the standard of proof required in insolvency applications.