Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
FeaturedNCLAT rules secured creditor barred from claiming hypothecated assets after failing to file claim within 30 days under Regulation 21A of IBC.
FeaturedNCLAT ruled that Income Tax Department cannot set off refunds against tax dues during IBC moratorium. Refund of ₹90.42 lakh directed to corporate debtor.
FeaturedSAT quashes SEBI's Rs 6 lakh penalty on a corporate debtor, ruling that post-IBC resolution, pre-acquisition liabilities are extinguished.
FeaturedSAT Mumbai sets aside SEBI's enforcement action against Raj Oil Mills, relying on the precedential value of the Monnet Ispat ruling regarding continuing liability.
FeaturedNCLAT Delhi held advance payments for brokerage services constitute operational debt, making Section 9 IBC proceedings maintainable.
FeaturedNCLAT Delhi ruled that a non-supply dispute was sham as documents were provided pre-notice; upheld admission of Section 9 IBC application.
FeaturedSAT Mumbai quashes multiple SEBI penalties imposed pre-acquisition after IBC resolution, citing Sections 31 and 32A, affirming liability extinguishment upon plan approval.
FeaturedNCLT Mumbai admitted a ₹70.72 crore Section 7 IBC petition, rejecting claims that MSME status nullifies debt liability or default under the Code.
FeaturedNCLAT ruled that converting a Section 61 IBC appeal to a Section 421 Companies Act appeal does not preserve limitation or allow exclusion under Section 14 of the Limitation Act.
FeaturedThe Securities Appellate Tribunal (Mumbai) quashed multiple SEBI penalties post-IBC resolution, citing Section 32A protection and the Monnet Ispat precedent. Liabilities extinguished under approved resolution plans cannot be revived.
FeaturedNCLAT confirms ₹437.02 lakh contribution against suspended directors for round-tripping funds and fraudulent property deals under IBC.
FeaturedThe NCLAT clarifies that Section 14 moratorium under IBC protects only the corporate debtor, not its directors, allowing criminal and homebuyer claims to proceed.