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NCLAT Dismisses Appeals Challenging Admission of Section 7 Application by Allottees Against Corporate Debtor. The Tribunal upheld the NCLT order allowing impleadment of allottees and admitting the insolvency petition under Section 7 of the Insolvency and Bankruptcy Code, 2016, as default was established.

The judgment pertains to two appeals filed against an order dated 04.03.2024 passed by the National Company Law Tribunal (NCLT), New Delhi Principal B...

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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 Clubbing of Multiple FIRs in Real Estate Project Dispute to Prevent Multiplicity of Proceedings. Court directs transfer of all FIRs to EOW Delhi for consolidated investigation under Sections 406, 420, 120B IPC.

The petitioners, former directors of M/s Krrish Realtech Pvt. Ltd., filed a writ petition under Article 32 of the Constitution seeking clubbing or tra...

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NCLAT Dismisses Appeal of Homebuyer Seeking Late Claim Filing in CIRP — Resolution Plan Approved Prior to Claim Filing Cannot Be Reopened. Homebuyer's claim filed after CoC approval of resolution plan was rightly rejected by RP as per IBC Regulations.

The case involves an appeal filed by Sonia Kapoor, an allottee of a unit (A-1-104) in a real estate project of Dream Procon Pvt. Ltd. (Corporate Debto...

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Appeal Against NCDRC Order on Delayed Flat Possession: Developer's 9% Interest Demand Quashed. Supreme Court overturns NCDRC's direction allowing the developer to charge 9% interest on the balance payment; possession to be handed over within 30 days post-final settlement.

This appeal challenges the final order dated 23rd January 2023 passed by the National Consumer Disputes Redressal Commission (NCDRC), which allowed a ...

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High Court of Karnataka Quashes SARFAESI Proceedings Against Company Under CIRP — Resolution Professional Entitled to Possession of Assets. Held that Section 14 of IBC overrides SARFAESI Act and other laws, and the moratorium under IBC bars any proceedings against the corporate debtor's assets.

The petitioner, M/s. Dreams Infra India Pvt. Ltd., represented by its Resolution Professional Sri Ashok Kriplani appointed by the National Company Law...

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Supreme Court Clarified the Scope of Interim Moratorium under Section 96 of the Insolvency and Bankruptcy Code, 2016 – Held That Regulatory Penalties Imposed by the Consumer Protection Act, 1986, Are Not Covered

Invoking Insolvency Proceedings Cannot stay execution of Penalty Orders for Consumer Protection Law Violations – The Apex Court Upheld the NCDRC’s...