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High Court Allows Impleadment of Liquidator in Pending Salary Recovery Suit -- Interprets IBC Provisions on Continuation of Proceedings Post-Liquidation -- Sets Aside Trial Court Order Dismissing Chamber Summons

The Petitioner, a former employee of Respondent No.1 company, had filed a Summary Suit in 2017 for recovery of salary dues -- After the company went i...

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Supreme Court Dismisses Appeal by Erstwhile Directors in First Insolvency Case, Holding IBC Overrides State Moratorium. Corporate Debtor's Belated Defence of Non-Disbursal Under Master Restructuring Agreement Rejected as After-Thought.

The case arose from the first application under the newly enacted Insolvency and Bankruptcy Code, 2016. The appellant, a multi-product company, faced ...

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Supreme Court Dismisses Appeal Against Initiation of CIRP Against Corporate Debtor Despite Payment by Guarantor's Resolution Applicant. Right of Subrogation Under Section 140 of Indian Contract Act, 1872 Not Available Where Resolution Plan Extinguishes Guarantee and No Payment of Entire Debt.

The case involves an appeal against the initiation of Corporate Insolvency Resolution Process (CIRP) against the 2nd respondent, Gujarat Hydrocarbon a...

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Bombay High Court Allows State's Petition Challenging NCLT Order De-freezing MPID Attached Accounts. MPID Act Overrides IBC for Attachment and Confiscation of Properties of Financial Establishments.

The State of Maharashtra, through the Deputy Collector and Competent Authority (NSEL), filed a writ petition under Articles 226 and 227 of the Constit...

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Supreme Court Dismisses Appeal in Insolvency Case Involving Trademark Ownership Dispute. The Court upheld NCLAT's finding that NCLT's declaration of trademark ownership impermissibly modified the approved Resolution Plan under the Insolvency and Bankruptcy Code, 2016.

The appeal arose from a dispute over trademark ownership in the context of a corporate insolvency resolution process under the Insolvency and Bankrupt...

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Supreme Court Dismisses Appeals by Appellants -- Upholds Committee of Creditors' Approval of Sarda Energy and Minerals Limited's Resolution Plan Under Insolvency and Bankruptcy Code, 2016 -- Doctrine of Commercial Wisdom Affirmed in Insolvency Resolution

The Supreme Court upheld the approval of a Resolution Plan by Sarda Energy and Minerals Limited (SEML) for SKS Power Generation (Chhattisgarh) Ltd. un...