Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
The NCLT has accepted an insolvency application for ₹1.96 crore, stating that SARFAESI actions by secured creditors do not hinder CIRP where operational debts are present.
The NCLT Kolkata has admitted SBI's insolvency plea against Martina Bio Genics, ruling that ongoing winding-up proceedings cannot obstruct the revival process under the Insolvency and Bankruptcy Code (IBC).
In a significant ruling, the NCLT has stated that a corporate guarantor cannot avoid Corporate Insolvency Resolution Process (CIRP) obligations even if there are parallel proceedings against the principal borrower. This decision reinforces the co-extensive liability of guarantors under the IBC.
The NCLT has clarified that the limitation period for invoking Corporate Insolvency Resolution Process (CIRP) against a corporate guarantor begins with the invocation of the guarantee, not from the classification as a Non-Performing Asset (NPA). This ruling is pivotal for creditors in managing timelines for claims against guarantors.
The NCLT has admitted an insolvency plea against an online gaming firm for defaulting on a loan amounting to ₹2.81 crore, appointing an interim resolution professional to manage the case.
The NCLT has admitted an insolvency petition against an online gaming company due to a ₹2.81 crore loan default. Swapnil Jain has been appointed as the Interim Resolution Professional (IRP) to oversee the proceedings.
The NCLT has admitted an insolvency plea against an online gaming firm for defaulting on a ₹2.81 crore loan. Swapnil Jain has been appointed as the Interim Resolution Professional to manage the firm's affairs.
The NCLAT has ruled that invoices are not mandatory to establish operational debt under the Technical Guidance Agreement, which entails a fixed royalty obligation. This ruling has significant implications for the enforcement of contractual liabilities.
The IBBI has implemented the third amendment for 2026, establishing a single valuer for each asset class in MSME liquidation, improving efficiency in the process.
The IBBI's amendment allows for a single valuer in MSME insolvency cases, expected to reduce compliance costs and expedite resolution timelines for smaller businesses.
The NCLT has admitted an insolvency plea against an online gaming firm due to non-repayment of ₹2.81 crore loan, emphasizing the time value of money. Swapnil Jain has been appointed as the Interim Resolution Professional.
The NCLT has admitted a Corporate Insolvency Resolution Process (CIRP) due to the failure of an OTS proposal, emphasizing the necessity of compliance and timely payments.