Supreme Court of India Judgements

37260 Judgements hosted as on 28/05/2026 - Search (FREE), Subscribe, Read & Download

Category: I B C

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. )…

I B C

Prohibition of Benami Property Transactions Act, 1988 vs. Insolvency and Bankruptcy Code, 2016 — Jurisdiction — Orders passed under Benami Act cannot be questioned before authorities under IBC — NCLT lacks jurisdiction to entertain challenges to provisional attachment orders under Benami Act — Remedy lies exclusively before competent forum under Benami Act — IBC cannot be converted into a parallel appellate forum to review validity of attachment orders under specialised enactment — Doing so would render appellate machinery of Benami Act otiose.

Feb 28, 2026 sclaw

2026 INSC 187 SUPREME COURT OF INDIA DIVISION BENCH S. RAJENDRAN Vs. THE DEPUTY COMMISSIONER OF INCOME TAX (BENAMI PROHIBITION) AND OTHERS ( Before : Pamidighantam Sri Narasimha and Atul…

I B C

Insolvency and Bankruptcy Code (IBC), 2016 — Sections 7 and 60(2) — Corporate Insolvency Resolution Process (CIRP) — Initiation against principal debtor and guarantor — Co-extensive liability — Creditor can initiate CIRP against both the principal debtor and guarantor simultaneously, and also file claims in the CIRP of both.

Feb 28, 2026 sclaw

2026 INSC 201 SUPREME COURT OF INDIA DIVISION BENCH ICICI BANK LIMITED AND OTHERS Vs. ERA INFRASTRUCTURE (INDIA) LIMITED AND OTHERS ( Before : Dipankar Datta and Augustine George Masih,…

I B C

Insolvency and Bankruptcy Code, 2016 — Section 14, Section 238 — Telecom laws — Spectrum — Nature of — Can spectrum, even if treated as an asset in corporate debtor’s books, be subjected to proceedings under IBC? — Held, No. Spectrum is a natural resource, the right to use which is granted by the Government under a licence, not ownership. The IBC cannot override the specific statutory regime governing telecommunications law.

Feb 22, 2026 sclaw

2026 INSC 153 SUPREME COURT OF INDIA DIVISION BENCH STATE BANK OF INDIA Vs. UNION OF INDIA AND OTHERS ( Before : Pamidighantam Sri Narasimha and Atul S. Chandurkar, JJ.…

I B C

Insolvency and Bankruptcy Code, 2016 — Section 7 — Admission of application for Corporate Insolvency Resolution Process (CIRP) — Rejection of settlement proposal — Court must ascertain existence of default in financial debt when a financial creditor triggers insolvency under Section 7 — No scope for inquiry into disputes regarding existence of debt or inability to pay at admission stage — Rejects arguments based on financial viability and settlement proposals.

Feb 22, 2026 sclaw

2026 INSC 166 SUPREME COURT OF INDIA FULL BENCH POWER TRUST (PROMOTER OF HIRANMAYE ENERGY LTD.) Vs. BHUVAN MADAN (INTERIM RESOLUTION PROFESSIONAL OF HIRANMAYE ENERGY LTD.) AND OTHERS ( Before…

I B C

Insolvency and Bankruptcy Code, 2016 — Section 60(5)(c) — Jurisdiction of Adjudicating Authority — Declaration of title to trademark — NCLT exceeded its jurisdiction by declaring title to trademark “Gloster” in favour of the Successful Resolution Applicant (SRA) while adjudicating an application under Section 60(5) of the IBC, as the issue of trademark title was a highly contentious dispute beyond the scope of insolvency proceedings and not directly related to the CIRP.

Jan 22, 2026 sclaw

SUPREME COURT OF INDIA DIVISION BENCH GLOSTER LIMITED Vs. GLOSTER CABLES LIMITED AND OTHERS ( Before : J.B. Pardiwala and K. V. Viswanathan, JJ. ) Civil Appeal No. 2996 of…

I B C

Insolvency and Bankruptcy Code, 2016 — Section 7 — Corporate Insolvency Resolution Process (CIRP) — Admission of CIRP — Adjudicating Authority’s power and duty — Legal position is well-settled that once the Adjudicating Authority is satisfied that a financial debt exists and a default has occurred, it must admit the application — Inquiry under Section 7(5)(a) is confined strictly to determination of debt and default, leaving no scope for equitable or discretionary considerations — Reliance on Vidarbha Industries is misconceived; it is a narrow exception confined to its peculiar facts — Admission under Section 7 remains mandatory once debt and default are established — Any alleged non-cooperation by the financial creditor occurred subsequent to the default and cannot absolve the corporate debtor of its admitted failure to comply with its payment obligations. (Paras 12.3, 12.6, 12.9, 12.10)

Jan 17, 2026 sclaw

2026 INSC 58 SUPREME COURT OF INDIA DIVISION BENCH ELEGNA CO-OP. HOUSING AND COMMERCIAL SOCIETY LTD. Vs. EDELWEISS ASSET RECONSTRUCTION COMPANY LIMITED AND ANOTHER ( Before : J.B. Pardiwala and…

I B C

Insolvency and Bankruptcy Code, 2016 — Section 9 — Corporate Insolvency Resolution Process (CIRP) — Application by Operational Creditor — Pre-existing Dispute — Adjudicating authority must determine if operational debt exists, if non-payment has occurred, and if a dispute existed prior to the demand notice (Section 8) — Dispute must be genuine, substantial, and not spurious, hypothetical, or illusory (mere ‘moonshine’ or ‘bluster’) — Court is not required to examine the merits of the dispute or satisfy itself that the defence is likely to succeed. (Paras 15, 16, 19)

Dec 13, 2025 sclaw

2025 INSC 1410 SUPREME COURT OF INDIA DIVISION BENCH M/S. SARASWATI WIRE AND CABLE INDUSTRIES Vs. MOHAMMAD MOINUDDIN KHAN AND OTHERS ( Before : Sanjay Kumar and Alok Aradhe, JJ.…

I B C

Insolvency and Bankruptcy Code, 2016 (IBC) — Section 62 — Liquidation Process — Sale of Assets — Appeals against NCLAT majority decision confirming forfeiture of amount paid by bidder — Private sale requiring Adjudicating Authority’s prior approval — Regulation 33(2)(d) of IBBI (Liquidation Process) Regulations, 2016 — Where liquidator seeks NCLT approval for private sale after failed auctions and decision to sell at scrap value, the sale falls under Regulation 33(2)(d) and not Regulation 33(2)(c) (sale at price higher than reserve price of failed auction) — Contention that sale was purely a contract governed by Indian Contract Act, 1872, rejected. (Paras 12, 16, 19)

Dec 13, 2025 sclaw

2025 INSC 1411 SUPREME COURT OF INDIA DIVISION BENCH M/S. SHRI KARSHNI ALLOYS PRIVATE LIMITED Vs. RAMAKRISHNAN SADASIVAN ( Before : Sanjay Kumar and Alok Aradhe, JJ. ) Civil Appeal…

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Direct Taxation Income Tax

the reasoning in the impugned judgment that the non-obstante clause would not in any manner dilute or override the employer’s obligation to deposit the amounts retained by it or deducted by it from the employee’s income, unless the condition that it is deposited on or before the due date, is correct and justified. The non-obstante clause has to be understood in the context of the entire provision of Section 43B which is to ensure timely payment before the returns are filed, of certain liabilities which are to be borne by the assessee in the form of tax, interest payment and other statutory liability. I

May 28, 2026 sclaw
Anticipatory Bail Bail Declined

Criminal Procedure Code, 1973 (CrPC) — Section 438 — Anticipatory Bail — Grant of — Grounds for — High Court granted anticipatory bail based on reasons that one co-owner was abroad during agreement execution, agreement was only notarized and not registered, part payment received, and complainant sought refund indicating civil dispute — Supreme Court found these reasons to be peripheral and not bearing direct nexus to parameters governing anticipatory bail — Seriousness of allegations, criminal antecedents, and requirements of investigation in economic offence were overlooked by High Court.

May 28, 2026 sclaw
Cheque Dishonour

Negotiable Instruments Act, 1881 (NI Act) — Sections 138 and 141 — Quashing of criminal proceedings — Vicarious liability of office bearers — For a person other than the drawer or signatory of a dishonoured cheque to be prosecuted under Section 141 of the NI Act, it must be specifically averred in the complaint that such person was in charge of and responsible for the conduct of the business of the company or society at the time the offence was committed.

May 28, 2026 sclaw
Arbitration

Arbitration and Conciliation Act, 1996 — Sections 34 and 37 — Scope of powers of Court to set aside or modify arbitral award — Modification of award is a limited power compared to annulment, aimed at achieving more just outcomes and avoiding hardship and delay, especially in India where litigation takes years — Appellate jurisdiction under Section 37 is coterminous with and as broad as jurisdiction under Section 34.

May 28, 2026 sclaw