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Supreme Court Dismisses Appeals by Liquidators Challenging Benami Act Attachment Orders, Upholds NCLAT Ruling that IBC Authorities Lack Jurisdiction to Entertain Challenges to Benami Act Orders During Insolvency Proceedings

The Supreme Court dismissed a batch of civil appeals filed by liquidators challenging provisional attachment orders issued under the Prohibition of Be...

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Supreme Court Dismisses Appeal by Operational Creditor in IBC Resolution Plan Challenge — Commercial Wisdom of Committee of Creditors Upheld. Noida Special Economic Zone Authority's claim for full admitted dues rejected as Resolution Plan approved by CoC and NCLT stands, with IBC overriding SEZ Act.

The case involves an appeal by Noida Special Economic Zone Authority (NSEZ Authority), an operational creditor, against the approval of a resolution p...

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NCLAT Sets Aside NCLT Order in IBC Liquidation Case for Violating Natural Justice by Ignoring SRA's Counter Affidavit. The Successful Resolution Applicant's e-filed counter was accepted but not considered, leading to remand for fresh hearing.

The case involves an appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016, filed by the Successful Resolution Applicant (SRA) challengi...

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Supreme Court Dismisses Appeal by Land Authority Challenging Auction Sale of Nazul Land Due to Delay and Laches. Lease Agreement Did Not Confer Title Without Execution of Lease Deed, but Long Lapse of Time Prevents Challenge.

The appellant, Delhi Development Authority (DDA), executed an agreement of lease dated 17th July 1957 in respect of plot no.3 in favour of M/s Mehta C...

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Bombay High Court Hears Six Writ Petitions Concerning Recovery Certificates Under Maharashtra Co-operative Societies Act, 1960. The Dispute Involves Cancellation of Recovery Certificates Under Section 101 and Refund of Deposit Under Section 154(2A) Due to Alleged Loan Defaults.

The dispute arose from loans allegedly advanced by Deogiri Nagari Sahakari Bank Limited to Sundeep Polymers Private Limited, now in liquidation. The c...

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Bombay High Court Dismisses Winding Up Petitions Against GOL Offshore Ltd. Due to Bona Fide Dispute and Absence of Commercial Insolvency. Debt Not Due and Payable Under Section 433(e) of Companies Act, 1956.

The judgment concerns two winding up petitions filed by Export-Import Bank of India and Punjab National Bank (International) Ltd. against GOL Offshore...