Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
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.
The NCLT Principal Bench ruled that the assignment of avoidance proceedings and residual assets during liquidation permits dissolution when no further assets remain for distribution.
The NCLAT determined that conditional payments linked to an internal consequence sheet constitute an acknowledgment of operational debt, upholding the admission into CIRP.
Following the rejection of the only resolution plan by the Committee of Creditors, the NCLT has ordered the liquidation of the corporate debtor, highlighting procedural routes in insolvency.
The NCLT Principal Bench has dissolved AVJ Infrastructure after it completed the liquidation process and assigned its residual assets, reinforcing the provisions under section 54 of the IBC.