Category: I B C

Insolvency and Bankruptcy Code, 2016 (IBC) — Section 7 — Application by Financial Creditor — Rejection for technical defects — Affidavit Verification — Whether an application under Section 7 of the IBC, verified later than the date of the supporting affidavit, is liable to be rejected at the threshold — Mere filing of a ‘defective’ affidavit (e.g., dated before application verification) does not render the Section 7 application non est and liable to be rejected; such a defect is curable and not fundamental. (Paras 1, 17)

2025 INSC 1349 SUPREME COURT OF INDIA DIVISION BENCH LIVEIN AQUA SOLUTIONS PRIVATE LIMITED Vs. HDFC BANK LIMITED ( Before : Sanjay Kumar and Alok Aradhe, JJ. ) Civil Appeal…

Insolvency and Bankruptcy Code, 2016 (IBC) — Section 14 — Moratorium — Applicability to terminated Development Agreements — Development Agreement constitutes ‘asset’ or ‘property’ of Corporate Debtor only if it creates subsisting proprietary, possessory or legally enforceable right — Termination of Development Agreement based on Corporate Debtor’s persistent and prolonged non-performance, occurring prior to initiation of Corporate Insolvency Resolution Process (CIRP), is valid and lawful — Moratorium under Section 14 does not revive contracts validly terminated before insolvency or protect mere inchoate or forfeited contractual rights — Where developer never obtained possession and failed to perform core obligations, its development rights do not constitute ‘assets’ or ‘property’ of the Corporate Debtor, and the moratorium does not apply. (Paras 15.5, 15.6, 16.4, 16.7, 16.12, 20, 21(i), 21(ii))

2025 INSC 1366 SUPREME COURT OF INDIA DIVISION BENCH A A ESTATES PRIVATE LIMITED THROUGH ITS RESOLUTION PROFESSIONAL HARSHAD SHAMKANT DESHPANDE AND ANOTHER Vs. KHER NAGAR SUKHSADAN CO-OPERATIVE HOUSING SOCIETY…

Constitution of India, 1950 — Article 32 — Writ Petition (Criminal) — Seeking registration of FIR and investigation into attempt to influence judicial outcome — Relief for criminal investigation based on disclosure in a judicial order of NCLAT, Chennai Bench — Issues raised are of vital public importance but deemed capable of administrative resolution by Chief Justice of India — Writ Petition treated as a representation to bring material information for consideration of Hon’ble Chief Justice of India, allowing law to take its course — Petition disposed of on administrative treatment of investigation request.

SUPREME COURT OF INDIA DIVISION BENCH M/S A.S. MET CORP PRIVATE LIMITED Vs. THE REGISTRAR AND OTHERS ( Before : Surya Kant and Joymalya Bagchi, JJ. ) Writ Petition(s)(Criminal) No(s).440/2025…

. Insolvency and Bankruptcy Code, 2016 — Section 62 — Appeal to Supreme Court — Limited to questions of law — Concurrent findings of fact by NCLT and NCLAT ordinarily not to be interfered with — Unless view taken in ignorance of statutory provisions, based on extraneous consideration or ex-facie arbitrary/illegal.

2025 INSC 1165 SUPREME COURT OF INDIA FULL BENCH KALYANI TRANSCO Vs. M/S BHUSHAN POWER AND STEEL LIMITED AND OTHERS ( Before : B.R. Gavai, CJI, Satish Chandra Sharma and…

Insolvency and Bankruptcy Code, 2016 — Section 62; Section 14(1)(d) — Appeal against NCLAT order setting aside NCLT order directing return of property — NCLT had directed return of property based on CoC decision that property not required by corporate debtor — NCLAT set aside NCLT order invoking Section 14(1)(d) barring recovery of property during CIRP — Supreme Court held that Section 14(1)(d) not applicable as CoC and Resolution Professional initiated the process for returning property due to financial burden of rentals, and not a simple recovery by owner — Commercial wisdom of CoC regarding non-retention of property given primacy — NCLAT order set aside, NCLT order restored.

2025 INSC 931 SUPREME COURT OF INDIA DIVISION BENCH SINCERE SECURITIES PRIVATE LIMITED AND OTHERS Vs. CHANDRAKANT KHEMKA AND OTHERS ( Before : Sanjay Kumar and Satish Chandra Sharma, JJ.…

The statutory limitation period for filing an appeal before the National Company Law Appellate Tribunal (NCLAT) under Section 61(2) of the Insolvency and Bankruptcy Code, 2016 (IBC) is thirty days, commencing from the date of pronouncement of the order by the National Company Law Tribunal (NCLT) — The NCLAT possesses discretion to condone delay for a further period not exceeding fifteen days, upon satisfaction of sufficient cause

2025 INSC 447 SUPREME COURT OF INDIA FULL BENCH A RAJENDRA Vs. GONUGUNTA MADHUSUDHAN RAO AND OTHERS ( Before : Abhay S. Oka, Ahsanuddin Amanullah and Augustine George Masih, JJ.…

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