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Search Results for "resolution applicant"

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Supreme Court

Supreme Court Clarifies Legal Position on 'Same Line of Business' in Withdrawn Insolvency Appeal Involving Cooperative Society. The Court Examined Section 64(d) of the Multi-State Cooperative Societies Act, 2002, and Eligibility Under the Insolvency and Bankruptcy Code, 2016, Without Deciding Merits After Appellant Sought Withdrawal.

9 Apr 2026

The Supreme Court addressed a statutory appeal arising from the National Company Law Appellate Tribunal's judgment dated 21.08.2025, which affirmed th...

High Court

High Court Quashes NCLT Order for Violation of Natural Justice in Corporate Insolvency Withdrawal Case. The court held that failure to issue notice and serve intervention applications on the suspended director under Rules 34(4) and 37 of the National Company Law Tribunal Rules, 2016, constituted flagrant violation of natural justice, making writ petitions maintainable despite alternative remedy under Section 61 of the Insolvency and Bankruptcy Code, 2016.

26 Mar 2026

The dispute arose from an order dated 09.09.2025 passed by the National Company Law Tribunal (NCLT), Mumbai, which allowed intervention applications b...

Supreme Court

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

27 Feb 2026

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

Supreme Court

Supreme Court Dismisses Power Trust's Appeal Against CIRP Initiation for Appellant(s), Upholds NCLAT Order Admitting Section 7 IBC Application Due to Default and Non-Compliance with Restructuring Conditions

18 Feb 2026

The Supreme Court dismissed an appeal challenging the initiation of corporate insolvency resolution process (CIRP) against Hiranmaye Energy Ltd. under...

Supreme Court

Supreme Court Upholds Commercial Wisdom of CoC in DHFL Insolvency, Sets Aside NCLAT’s Interference in Resolution Plan. Recoveries from Avoidance Applications Under Section 66 IBC to Benefit SRA; FD Holders’ Claims Dismissed

1 Apr 2025

Commercial Wisdom of CoC – The Supreme Court reaffirmed the paramount status of the Committee of Creditors’ (CoC) commercial wisdom in approving ...

Supreme Court

Supreme Court Dismisses Contempt Petition Against Tax Authorities for Alleged Disobedience of Insolvency Judgment. Contempt not established as authorities acted in good faith and were not parties to earlier proceedings, despite claims for pre-resolution plan tax dues being extinguished under Section 31(1) of the Insolvency and Bankruptcy Code, 2016.

27 Mar 2025

The dispute arose from a contempt petition filed by M/s JSW Ispat Special Products Limited (now M/s JSW Steel Limited) against tax authorities of Chha...

Tribunals

National Company Law Appellate Tribunal Allows Appeals by Appellant Creditor in IBC Case -- Sets Aside Orders Directing Appellant to Approach GIDC Appellate Authority and Remitting Resolution Plan -- Termination of Lease During Moratorium Held Invalid Under Section 14 of IBC

21 Mar 2025

The National Company Law Appellate Tribunal (NCLAT) allowed two appeals filed by the Resolution Professional (RP) and the largest financial creditor o...

Supreme Court

Insolvency and Bankruptcy Code, 2016 – Income Tax Demands Post Approval of Resolution Plan – Statutory Dues Not Forming Part of the Resolution Plan Stand Extinguished. Once a Resolution Plan is duly approved under Section 31(1) of the Insolvency and Bankruptcy Code, 2016, all claims not forming part of the plan shall stand extinguished, including statutory dues owed to the Government. No fresh demands can be enforced thereafter.

20 Mar 2025

Statutory dues not forming part of the approved Resolution Plan stand extinguished, and no fresh claims can be raised post-approval. A successful Reso...

High Court

Non-Executive Woman Director Quits “Willful Defaulter” Tag for Lack of Notice: Natural Justice Prevails High Court quashes declaration of "willful defaulter" against Non-Executive Woman Director citing violation of natural justice.

14 Nov 2024

1. Introduction (Paras 1-3) The Petitioner, a Non-Executive Woman Director of PSL Limited, challenged a letter dated 16 July 2018 that declared her a...

Supreme Court

Supreme Court Affirms Guarantor's Independent Liability Despite Resolution Plan. Guarantor's obligations remain intact; assets of subsidiaries excluded from holding company’s resolution plans, creditor rights upheld

23 Jul 2024

The Supreme Court of India affirmed that the approval of a resolution plan for a corporate guarantor does not absolve the principal borrower of its li...

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