Supreme Court of India Judgements

46695 Judgements hosted as on 17/01/2025 - Search (FREE), Subscribe, Read & Download

Category: I B C

I B C

IBC – Dispute Section 9 – It is important to separate the grain from the chaff – so long as a dispute truly exists in fact and is not spurious, hypothetical or illusory, the adjudicating authority has no other option but to reject the application – the Court is not required to be satisfied as to whether the defence is likely to succeed or not – Court also cannot go into the merits of the dispute

Aug 14, 2021 sclaw

SUPREME COURT OF INDIA DIVISION BENCH KAY BOUVET ENGINEERING LIMITED — Appellant Vs. OVERSEAS INFRASTRUCTURE ALLIANCE (INDIA) PRIVATE LIMITED — Respondent ( Before : R.F. Nariman and B.R. Gavai, JJ.…

I B C

IBC – There is no residual equity based jurisdiction in the Adjudicating Authority or the Appellate Authority while dealing with the resolution plan approved by the Committee of Creditors. These authorities can not enter into the commercial wisdom underlying the approval granted by the CoC to the resolution plan.

Aug 10, 2021 sclaw

There is no residual equity based jurisdiction in the Adjudicating Authority or the Appellate Authority while dealing with the resolution plan approved by the Committee of Creditors. These authorities can…

I B C

IBC – Initiation of the Corporate Insolvency Resolution Process by a Financial Creditor under Section 7 of the IBC is the occurrence of a default by the Corporate Debtor – Definition of ‘Financial Debt’ in Section 5(8) of IBC does not expressly exclude an interest free loan – ‘Financial Debt’ would have to be construed to include interest free loans advanced to finance the business operations of a corporate body

Aug 7, 2021 sclaw

SUPREME COURT OF INDIA DIVISION BENCH M/S ORATOR MARKETING PRIVATE LIMITED — Appellant Vs. M/S SAMTEX DESINZ PRIVATE LIMITED — Respondent ( Before : Indira Banerjee and V. Ramasubramanian, JJ.…

I B C

A judgment and/or decree for money in favour of the Financial Creditor, passed by the DRT, or any other Tribunal or Court, or the issuance of a Certificate of Recovery in favour of the Financial Creditor, would give rise to a fresh cause of action for the Financial Creditor, to initiate proceedings under Section 7 of the IBC

Aug 6, 2021 sclaw

SUPREME COURT OF INDIA DIVISION BENCH DENA BANK (NOW BANK OF BARODA) — Appellant Vs. C. SHIVAKUMAR REDDY AND ANR. — Respondent ( Before : Indira Banerjee and V. Ramasubramanian,…

I B C

IBC – Approval of a resolution plan does not ipso facto discharge a personal guarantor (of a corporate debtor) of her or his liabilities under the contract of guarantee – Release or discharge of a principal borrower from the debt owed by it to its creditor, by an involuntary process, i.e. by operation of law, or due to liquidation or insolvency proceeding, does not absolve the surety/guarantor of his or her liability, which arises out of an independent contract.

Jun 5, 2021 sclaw

SUPREME COURT OF INDIA DIVISION BENCH LALIT KUMAR JAIN — Appellant Vs. UNION OF INDIA AND OTHERS — Respondent(S) ( Before : L. Nageswara Rao and S. Ravindra Bhat, JJ.…

I B C

IBC, 2016 – Where the interim resolution professional or resolution professional, as the case may be, considers the supply of goods or services critical to protect and preserve the value of the corporate debtor and manage the operations of such corporate debtor as a going concern, then the supply of such goods or services shall not be terminated, suspended or interrupted during the period of moratorium,

Apr 25, 2021 sclaw

SUPREME COURT OF INDIA DIVISION BENCH SANDEEP KHAITAN, RESOLUTION PROFESSIONAL FOR NATIONAL PLYWOOD INDUSTRIES LIMITED — Appellant Vs. JSVM PLYWOOD INDUSTRIES LIMITED AND ANOTHER — Respondent ( Before : Uday…

I B C

IBC, 2016 – Once a resolution plan is duly approved by the Adjudicating Authority under sub-section (1) of Section 31, the claims as provided in the resolution plan shall stand frozen and will be binding on the Corporate Debtor and its employees, members, creditors, including the Central Government, any State Government or any local authority, guarantors and other stakeholders

Apr 25, 2021 sclaw

SUPREME COURT OF INDIA FULL BENCH GHANASHYAM MISHRA AND SONS PRIVATE LIMITED THROUGH THE AUTHORIZED SIGNATORY — Appellant Vs. EDELWEISS ASSET RECONSTRUCTION COMPANY LIMITED THROUGH THE DIRECTOR AND OTHERS —…

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