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High Court of Karnataka Dismisses Appeal Challenging DICGC Act Provisions in Cooperative Bank Deposit Insurance Dispute. Sections 18A(5) and 21(3)(4) of the Deposit Insurance and Credit Guarantee Corporation Act, 1961, held constitutional and not arbitrary.

The appellant, Sri G.K. Gururaja Rao, Secretary of Sri Guru Raghavendra Sahakara Bank Niyamitha, filed a writ petition under Article 226 of the Consti...

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Supreme Court Upholds NCLAT Decision Setting Aside NCLT Orders Approving Resolution Plans for Earth Infrastructures Limited. Dispute Involves GNIDA's Claim Over Land Leased to Special Purpose Company and Its Subsidiaries, and the Validity of Resolution Plans Under IBC.

The Supreme Court of India heard a batch of civil appeals arising from a judgment of the National Company Law Appellate Tribunal (NCLAT) dated 30.01.2...

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Supreme Court Allows Insolvency Proceedings Under IBC Over Defunct Scheme of Arrangement -- IBC Prevails Over Companies Act in Recovery of Defaulted Loans

The Supreme Court allowed an appeal against the Company Law Appellate Tribunal's order that kept in abeyance an application under Section 7 of the Ins...

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NCLAT Dismisses Appeal of Successful Resolution Applicant Against Conditions in Resolution Plan Implementation Order. Tribunal upholds NCLT's authority to impose conditions for enforcement of resolution plan under Section 61(3) of Insolvency and Bankruptcy Code, 2016.

The appellant, M/s. Rocksand Minerals Private Limited, a successful resolution applicant, filed an appeal under Section 61(3) of the Insolvency and Ba...

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Bombay High Court Quashes FIR Against HDFC Bank Executive in Cheque Dishonour Case — Donation Not a Legally Enforceable Debt Under Section 138 NI Act. Court held that a cheque issued as a donation without existing liability does not attract penal provisions under Negotiable Instruments Act, 1881.

The petitioner, Sashidhar Jagdishan, an individual aged 79 years and an executive at HDFC Bank, filed a criminal writ petition under Article 226 of th...

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NCLAT Chennai Allows Appeal of Financial Creditor in Insolvency Case, Directs Reconsideration of Resolution Plan. The Tribunal held that the Resolution Professional's failure to include the appellant in the Committee of Creditors and incorrect determination of voting shares violated the IBC, 2016.

The appeal was filed by RBL Bank Limited against the order of the National Company Law Tribunal (NCLT), Chennai, which had approved the resolution pla...