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Supreme Court Dismisses Appeals in Insolvency Resolution Plan Implementation Dispute. The court upheld the NCLT order finding compliance with conditions precedent under the Resolution Plan, allowing implementation and extensions as per the Insolvency and Bankruptcy Code, 2016.

The batch of appeals arose from orders of the National Company Law Appellate Tribunal concerning the implementation of a Resolution Plan under the Ins...

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Bombay High Court Dismisses Petition Challenging Refusal to Recognize Admissions for Increased Intake in Ayurvedic College. Admissions to increased intake capacity must be made through centralized process as per AYUSH rules, not unilaterally by the institution.

The petitioner, Prakash Shikshan Mandal's Loknete Rajaram Bapu Patil Ayurvedic Medical College, Islampur, through its Vice Principal Dr. Ranjit Shamra...

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Supreme Court Allows Appeal in IBC Limitation Dispute — Application Under Section 7 Held Barred by Limitation. Acknowledgment of Debt in Balance Sheets Does Not Extend Limitation for Initiating CIRP Under IBC.

The Supreme Court allowed the appeal filed by Babulal Vardharji Gurjar, a director of Veer Gurjar Aluminium Industries Pvt. Ltd., against the order of...

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Bombay High Court Dismisses Petitions Challenging Promotions in Municipal Corporation Due to Lack of Locus Standi and Delay. Petitioners, who were not eligible for promotion to Junior Engineer, cannot challenge promotions of others, and the challenge is barred by delay and laches.

The judgment pertains to three writ petitions filed by employees of the Aurangabad Municipal Corporation challenging the promotions of respondents 3 a...

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NCLAT Larger Bench Holds Shareholder/Promoter is an 'Aggrieved Person' Under Section 61 IBC and Has Locus to Challenge Section 7 Admission Order. The reference resolves conflicting views on maintainability of appeal by shareholder against admission of insolvency petition.

The National Company Law Appellate Tribunal (NCLAT) Chennai Bench, in a larger bench of three members, addressed a reference question: whether a share...

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NCLAT Allows Fresh Form G to Maximize Asset Value in CIRP of Raigarh Champa Rail Infrastructure Pvt. Ltd. — Challenge Mechanism Under Regulation 39(1A)(b) of IBBI Regulations, 2016 Must Be Conducted Among Existing Resolution Applicants.

The appeal was filed by JM Financial Asset Reconstruction Company Ltd., acting as trustee of Rail December 2024 Trust, challenging the Impugned Order ...