NCLT Can Recall Resolution Plan Over Irregularities
Supreme Court affirms NCLT's power to recall approved resolution plans for material irregularities.
Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
Supreme Court affirms NCLT's power to recall approved resolution plans for material irregularities.
FeaturedSupreme Court rules that an admission order under Section 7 of IBC initiating CIRP is binding and cannot be resiled from in collateral proceedings, affirming finality of tribunal decisions.
FeaturedThe Supreme Court ruled that the Committee of Creditors cannot withdraw an approved resolution plan solely due to the corporate debtor’s improved financial position.
FeaturedSupreme Court held that the Committee of Creditors cannot withdraw an approved resolution plan merely because the corporate debtor's financial position has improved.
FeaturedThe Supreme Court has ruled that a Securitisation Recovery Application (SRA) can proceed on outstanding dues, rejecting 'clean slate' argument where it would cause grave inequity to the creditor.
FeaturedSupreme Court rules that the limitation period under Section 62 of IBC begins from the date of the NCLAT order, not from the receipt of the certified copy.
FeaturedSupreme Court rules that the 60-day limitation period for filing an appeal against NCLAT orders under Section 62 of IBC begins from the date of order, not receipt of certified copy.
FeaturedSupreme Court upholds Delhi HC's order for forensic audit of Fortis Healthcare in Daiichi-Sankyo vs Singh brothers dispute, clarifying observations are prima facie only.
FeaturedNCLAT has dismissed appeals by a removed resolution professional (RP), affirming that successor RPs have full authority to convene creditors’ meetings under the Insolvency and Bankruptcy Code, 2016, without vested rights existing in the predecessor.
Delhi HC directed release of ₹3.01 crore FDR held by bank, affirming operational creditor protection under IBC Section 32A.
NCLAT Delhi rules that retrospective NPA classification does not activate IBC Section 29A disqualification.
NCLAT Chennai rules that a director’s loan reflected in balance sheets qualifies as financial debt under IBC Section 5(8).