Supreme Court of India Judgements

47295 Judgements hosted as on 19/10/2026 - Search (FREE), Subscribe @ Rs 99/- for 6 months, sclaw@sclaw.in, WA +91 9417245693.

Category: I B C

I B C

Insolvency and Bankruptcy Code, 2016 — Section 31 — ‘Clean slate’ doctrine — Effect of approved Resolution Plan on claims — Upon approval under S. 31(1), claims provided in the Plan stand frozen and are binding on the Corporate Debtor and all stakeholders — Claims not incorporated in the Plan stand extinguished, withdrawn or abated — Resolution Applicant entitled to commence operations free from unforeseen liabilities — Ghanashyam Mishra & Sons v. Edelweiss ARC, (2021) 9 SCC 657, followed.

Jul 19, 2026 sclaw

2026 INSC 717 SUPREME COURT OF INDIA DIVISION BENCH M/S TATA STEEL LTD Vs. VARSHA AND ANOTHER ( Before : Manoj Misra and Manmohan, JJ. ) Civil Appeal Nos. 9052-9053…

C P C I B C

Presidency Towns Insolvency Act, 1909 — Section 9(2) — “Decree or order” — Whether includes a recovery certificate issued by a Debts Recovery Tribunal under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (pre-2016 amendment) — Held, no — Insolvency Act, being weighed with grave civil consequence of “civil death”, must be strictly construed — Expression “decree or order” must bear the meaning assigned under Ss. 2(2) and 2(14), CPC, requiring adjudication by a “court” in a “suit” — A DRT recovery certificate, not being a decree or order of a court within this meaning, cannot found an insolvency notice under S. 9(2) — Ratio of Paramjeet Singh Patheja v. ICDS Ltd., (2006) 13 SCC 322 (rendered qua arbitral awards) held to rest on a wider principle applicable equally to DRT recovery certificates — Impugned judgment of Division Bench, Bombay High Court, affirming Single Judge’s quashing of insolvency notice, upheld.

Jul 15, 2026 sclaw

2026 INSC 688 SUPREME COURT OF INDIA DIVISION BENCH H.D.F.C. BANK LIMITED Vs. KISHORE K. MEHTA (DEAD) THR. LRS. ( Before : Dipankar Datta and Satish Chandra Sharma, JJ. )…

I B C

Insolvency and Bankruptcy Code, 2016 — Sections 7 and 14 — Corporate guarantee — Effect of demerger/amalgamation of corporate debtor — NCLT admission order under S. 7 relying on six judicial precedents to reject corporate guarantor’s plea that liability stood extinguished on demerger/amalgamation — NCLAT dismissing appeal and reproducing the same precedents — On independent verification by Supreme Court, found that of the six citations, one carried a wrong citation of an existing but different judgment together with a non-existent paragraph, three were altogether non-existent citations, and two, though correctly cited, contained paragraphs not traceable to the actual reported judgments — Held, the citations relied upon by NCLT were fake, non-existent or hallucinated, apparently AI-generated, and NCLAT failed to detect the fabrication — Orders of NCLT dated 28.08.2024 and NCLAT dated 11.09.2025 set aside — Section 7 application restored to its original number for fresh disposal strictly on merits, without expression of any opinion by the Supreme Court — NCLT directed to dispose of the application expeditiously, preferably within two weeks, with parties to maintain status quo in the interregnum.

Jul 2, 2026 sclaw

2026 INSC 668 SUPREME COURT OF INDIA DIVISION BENCH POOJA RAMESH SINGH Vs. JAMMU AND KASHMIR BANK LTD. AND ANOTHER ( Before : Pamidighantam Sri Narasimha and Alok Aradhe, JJ.…

Cheque Dishonour I B C

Negotiable Instruments Act, 1881 — Sections 138 & 141 — Insolvency and Bankruptcy Code, 2016 (IBC) — Part III (Personal Insolvency) — Moratorium Provisions — Criminal Proceedings vs. Civil Liability — Dishonour of cheque is a criminal offence due to specific deeming fiction in Section 138, not merely a civil wrong for debt recovery, even though it arises from a debt — Held, moratorium under IBC Part III does not stay criminal proceedings under Section 138 of NI Act.

May 31, 2026 sclaw

2026 INSC 579 SUPREME COURT OF INDIA DIVISION BENCH DINESHCHAND SURANA Vs. UCO BANK ( Before : J.B. Pardiwala and K. V. Viswanathan, JJ. ) Criminal Appeal No….of 2026 (Arising…

I B C

Insolvency and Bankruptcy Code, 2016 (IBC) — Corporate Insolvency Resolution Process (CIRP) — Letter of Intent (LoI) — Appellant’s claim that LoIs were conditional due to clauses concerning pending judicial orders and staff/employee litigation rejected — NCLT and NCLAT found appellant was aware of these issues and discussions in CoC meetings — Appellant’s arguments of conditional LoI were considered an “after-thought” and an attempt to renege from the plan.

May 31, 2026 sclaw

2026 INSC 580 SUPREME COURT OF INDIA DIVISION BENCH SANJAY DAVE Vs. ANDHRA BANK LTD. AND OTHERS ( Before : K. V. Viswanathan and Vipul M. Pancholi, JJ. ) Civil…

I B C

Insolvency and Bankruptcy Code, 2016 — Section 61 — Appeal against NCLT order — Requirement of certified copy of impugned order — Rules for filing appeal before NCLAT — Presentation of appeals under Rule 22 of NCLAT Rules, 2016 — Appeal must be accompanied by a certified copy of impugned order — Applying for certified copy before expiry of limitation period is crucial for excluding time taken to procure it — Failure to file certified copy or obtain exemption renders appeal incompetent — NCLAT wrongly condoned delay in filing and refiling appeal without ensuring compliance with essential requirements.

May 14, 2026 sclaw

2026 INSC 479 SUPREME COURT OF INDIA DIVISION BENCH ANGELWOODS APARTMENT ALLOTTEES ASSOCIATION Vs. M LALITHA AND ANOTHER ( Before : Sanjay Kumar and K. Vinod Chandran, JJ. ) Civil…

I B C

Corporate Veil — Lifting of — May be lifted where associated companies are inextricably connected, forming part of one concern, or to prevent evasion of obligations or protect public interest. In this case, subsidiary companies were found to be mere fronts for the holding company’s development activities, justifying lifting the corporate veil.

May 12, 2026 sclaw

2026 INSC 449 SUPREME COURT OF INDIA DIVISION BENCH ALPHA CORP DEVELOPMENT PRIVATE LIMITED Vs. GREATER NOIDA INDUSTRIAL DEVELOPMENT AUTHORITY (GNIDA) AND OTHERS ( Before : Sanjay Kumar and Alok…

I B C

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. )…

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