Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
FeaturedSupreme Court permits Securitisation Remedial Action despite 'clean slate' argument, allowing creditors to defend claims arising from same contract.
FeaturedThe Supreme Court held that once an NCLT admits a Section 7 application and initiates CIRP, the admission is binding and cannot be resiled from in collateral legal proceedings.
FeaturedThe Supreme Court has held that once a Section 7 application under the IBC is admitted and CIRP initiated, the admission is binding and cannot be challenged in collateral proceedings.
FeaturedThe NCLAT upheld the rejection of a ₹7 crore resolution plan under IBC, holding it failed to address the cause of default and violated mandatory statutory requirements.
FeaturedSupreme Court holds that limitation under Section 62 of IBC begins from date of NCLAT order, not from receipt of certified copy, rejecting delayed appeals based on procurement delays.
FeaturedSupreme Court rules limitation under Section 62 begins from the date of NCLAT order, not certified copy receipt; time for obtaining copy not excluded.
FeaturedThe Supreme Court held that the limitation period for filing an appeal under Section 62 of the IBC begins from the date of the NCLAT order, not from the date of receipt of the certified copy. The time taken to obtain the certified copy cannot be excluded from limitation.
FeaturedNCLT admitted a ₹1.68 crore MUDRA CIRP petition, ruling that cancellation of RBI registration ended the Financial Service Provider exclusion under Section 247(1) of the Companies Act.
FeaturedNCLAT rejected Tata Capital’s claim over hypothecated assets, ruling it missed the 30-day deadline under Regulation 21A of the CIRP Regulations.
FeaturedNCLT ruled that pending winding-up proceedings do not preclude CIRP if liquidation has not reached irreversible stages, admitting a ₹1,526 crore insolvency petition.
FeaturedNCLT clarified that dissolution of a corporate debtor does not extinguish liability of promoters, directors, or guarantors, allowing recovery proceedings against them despite liquidation of the company.
FeaturedNCLT admits ₹1.68 crore MUDRA insolvency plea, ruling RBI licence cancellation removes financial service provider exclusion under IBC.