I B C Archives - Supreme Court of India Judgements

May 8, 2026 10:53 pm

Insolvency and Bankruptcy Code, 2016 — Section 5(8) — Financial Debt — Corporate Guarantees — A liability arising from corporate guarantee for money borrowed against interest qualifies as financial debt — The execution of corporate guarantees, even if challenged on grounds of timing or non-disclosure, are considered valid and enforceable if their execution is admitted or demonstrably proven, making the appellants entitled to recognition as financial creditors.

Apr 30, 2026 sclaw

2026 INSC 423 SUPREME COURT OF INDIA DIVISION BENCH STATE BANK OF INDIA AND OTHERS Vs. DOHA BANK Q.P.S.C. AND ANOTHER ( Before : Pamidighantam Sri Narasimha and Alok Aradhe,…

I B C Limitation

Insolvency and Bankruptcy Code, 2016 (IBC) — Section 7 — Application under — Limitation period — Calculation — Default date — Right to file application under Section 7 of IBC accrues on the date of default, which is when the corporate debtor first fails to discharge its repayment obligations — Limitation begins to run from the date of classification of the account as Non — Performing Asset (NPA) — Application filed beyond the prescribed period of limitation, even after considering extensions due to CIRP and Covid — 19 pandemic, is barred by limitation — NCLT and NCLAT orders admitting the application are quashed and set aside.

Apr 30, 2026 sclaw

2026 INSC 429 SUPREME COURT OF INDIA DIVISION BENCH SHANKAR KHANDELWAL Vs. OMKARA ASSET RECONSTRUCTION PVT. LTD AND ANOTHER ( Before : Pamidighantam Sri Narasimha and Alok Aradhe, JJ. )…

I B C

Insolvency and Bankruptcy Code, 2016 (IBC) — Sections 7, 3(10), 5(7), 5(8) — Corporate Insolvency Resolution Process (CIRP) — Admission of petition — Appeal against NCLAT order setting aside NCLT order and directing admission of Section 7 petition — Held, IBC is not a debt recovery legislation but for reorganisation and insolvency resolution — Initiation of CIRP as a substitute for execution of a civil court decree is an abuse of process.

Apr 27, 2026 sclaw

2026 INSC 410 SUPREME COURT OF INDIA DIVISION BENCH ANJANI TECHNOPLAST LTD. Vs. SHUBH GAUTAM ( Before : Pamidighantam Sri Narasimha and Alok Aradhe, JJ. ) Civil Appeal No. 8247…

I B C

Insolvency and Bankruptcy Code, 2016 — Section 9 — Application for corporate insolvency resolution process — Existence of a pre-existing dispute — Adjudicating authority must reject the application if notice of dispute has been received by the operational creditor or there is a record of dispute — The dispute must bring to the notice of the operational creditor the “existence” of a dispute or the fact that a suit or arbitration proceeding relating to a dispute is pending — The authority needs to see if there is a plausible contention which requires further investigation and that the “dispute” is not a patently feeble legal argument or an assertion of fact unsupported by evidence — It is important to separate the grain from the chaff and to reject a spurious defence which is mere bluster — However, in doing so, the Court does not need to be satisfied that the defence is likely to succeed — The Court does not at this stage examine the merits of the dispute except to the extent indicated above — So long as a dispute truly exists in fact and is not spurious, hypothetical or illusory, the adjudicating authority has to reject the application.

Apr 12, 2026 sclaw

2026 INSC 344 SUPREME COURT OF INDIA DIVISION BENCH GLS FILMS INDUSTRIES PRIVATE LIMITED Vs. CHEMICAL SUPPLIERS INDIA PRIVATE LIMITED ( Before : Sanjay Kumar and R. Mahadevan, JJ. )…

I B C

Insolvency and Bankruptcy Code, 2016 (IBC) — Section 12A — Withdrawal of Corporate Insolvency Resolution Process (CIRP) — Commercial Wisdom of Committee of Creditors (CoC) — Primacy of CoC’s commercial wisdom in deciding withdrawal of CIRP is non-justiciable and not subject to appeal or review by adjudicating authorities, except on grounds of statutory illegality or jurisdictional infirmity — Supreme Court in a miscellaneous application concerning a disposed SLP from a civil revision cannot adjudicate rival offers or substitute its view for the CoC’s business decision.

Mar 24, 2026 sclaw

2026 INSC 275 SUPREME COURT OF INDIA DIVISION BENCH M/S.LAMBA EXPORTS PVT. LTD Vs. M/S.DHIR GLOBAL INDUSTRIES PVT. LTD. AND OTHERS ( Before : Vikram Nath and Sandeep Mehta, JJ.…

I B C

Insolvency and Bankruptcy Code, 2016 (IBC) — Section 31(1) — Corporate Insolvency Resolution Process (CIRP) — Resolution Plan — “Clean Slate” Principle — Effect of Approval — Claims not part of resolution plan stand extinguished — No affirmative relief can be granted for such claims — Division Bench judgment set aside.

Mar 22, 2026 sclaw

2026 INSC 268 SUPREME COURT OF INDIA DIVISION BENCH UJAAS ENERGY LTD. Vs. WEST BENGAL POWER DEVELOPMENT CORPORATION LTD. ( Before : Dipankar Datta and Augustine George Masih, JJ. )…

Companies Act I B C

Companies Act, 2013 — Sections 241, 242, 244, 59 — Oppression and mismanagement — Interim protection — Supreme Court’s role is to preserve the subject matter of the dispute until the competent forum adjudicates the matter — Interim measures should ensure that the subject matter remains protected while allowing the statutory forum to proceed with adjudication.

Mar 14, 2026 sclaw

2026 INSC 226 SUPREME COURT OF INDIA DIVISION BENCH MONIVEDA CONSULTANTS LLP AND ANOTHER Vs. SHAJAS DEVELOPERS PRIVATE LIMITED AND OTHERS ( Before : Dipankar Datta and Augustine George Masih,…

I B C

Insolvency and Bankruptcy Code, 2016 — Committee of Creditors (CoC) — Commercial Wisdom — Legislative intent to vest decisive authority in CoC, which comprises financial creditors who bear economic consequences of failure — Decisions on viability, valuation, and haircuts are commercial, not judicial — Courts do not substitute their assessment for that of the CoC — Adjudicatory authority performs a supervisory role, ensuring statutory compliance and procedural fairness, but refrains from second-guessing economic bodies.

Mar 4, 2026 sclaw

2026 INSC 206 SUPREME COURT OF INDIA DIVISION BENCH TORRENT POWER LTD. Vs. ASHISH ARJUNKUMAR RATHI AND OTHERS ( Before : B.V. Nagarathna and R. Mahadevan, JJ. ) Civil Appeal…

I B C

Insolvency and Bankruptcy Code, 2016 — Section 7 — Adjudicating authority must satisfy itself that a financial debt exists and there is a default — Pre-existing dispute is not a bar to admitting an application by a financial creditor under Section 7, unlike in the case of an operational creditor under Section 9.

Feb 28, 2026 sclaw

2026 INSC 186 SUPREME COURT OF INDIA DIVISION BENCH CATALYST TRUSTEESHIP LTD. Vs. ECSTASY REALTY PVT. LTD. ( Before : Sanjay Kumar and K. Vinod Chandran, JJ. ) Civil Appeal…

I B C

Companies Act, 1956 — Insolvency and Bankruptcy Code, 2016 (IBC) — Section 238 (IBC) — Overriding effect of IBC — Scheme of arrangement (SOA) under Companies Act vs. Corporate Insolvency Resolution Process (CIRP) under IBC — Delay and non-compliance with statutory timelines in the SOA process renders it defunct — IBC provisions prevail over inconsistent provisions in other laws — Adjudicating Authority under IBC can initiate CIRP even if SOA proceedings are pending, especially if SOA is defunct.

Feb 28, 2026 sclaw

2026 INSC 189 SUPREME COURT OF INDIA DIVISION BENCH OMKARA ASSETS RECONSTRUCTION PRIVATE LIMITED. Vs. AMIT CHATURVEDI AND OTHERS ( Before : Sanjay Kumar and K. Vinod Chandran, JJ. )…

You missed

Electricity Act

Electricity Act, 2003 — Section 61(d), Section 62, Section 125 — Delhi Electricity Regulatory Commission (Terms and Conditions for Determination of Generation Tariff) Regulations, 2011 — Regulation 6.32, Regulation 4.1 — Capital Cost Recovery — Depreciation — Consumers’ Interest — The Electricity Act mandates that tariff determination must safeguard consumer interests and allow reasonable cost recovery — Depreciation recovery for a power plant cannot extend beyond the period for which electricity was actually supplied to consumers or the approved operational period under a Power Purchase Agreement (PPA), even if the plant has a longer technical useful life

May 8, 2026 sclaw

Education

Sarva Shiksha Abhiyan (SSA) — Engagement of para-teachers on contract basis — Part of Government of India’s flagship program for universal elementary education — Aimed to address human resource gaps in employing teachers — Jharkhand Education Project Council responsible for implementation in Jharkhand — Para-teachers engaged since 2002 — Primarily vehicle for Right of Children to Free and Compulsory Education Act, 2009 (RTE Act)

May 8, 2026 sclaw

State Laws

Karnataka Scheduled Castes and Scheduled Tribes (Prohibition of Transfer of Certain Lands) Act, 1978 — Applicability — Interpretation of delay in initiating proceedings — While delay is generally discouraged, it may not be fatal in cases of beneficial legislation aimed at protecting Scheduled Castes and Scheduled Tribes lands, especially when parties to the original transaction are privy to the proceedings.

May 8, 2026 sclaw

Arbitration

Arbitration and Conciliation Act, 1996 — Section 11(6) — Privity of Contract — Collaborator invoked arbitration clause — High Court rejected petition claiming no privity of contract — Supreme Court granted leave and held Collaborator as veritable party with joint and several liability.

May 8, 2026 sclaw

Category: I B C

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