I B C Archives - Page 8 of 8 - Supreme Court of India Judgements

April 19, 2025 1:24 pm

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 —…

I B C

Insolvency Process – Payment of debt – Proceedings under Section 7 of the Code can be initiated against a corporate person in respect of guarantee to the loan amount secured by person not being a corporate person, in case of default in payment of such a debt.

Mar 29, 2021 sclaw

SUPREME COURT OF INDIA FULL BENCH LAXMI PAT SURANA — Appellant Vs. UNION BANK OF INDIA AND ANOTHER — Respondent ( Before : A.M. Khanwilkar, B.R. Gavai and Krishna Murari,…

I B C

Insolvency Process – Reference to arbitration – Where the petition under Section 7 of IB Code is yet to be admitted and, in such proceedings, if an application under Section 8 of the Act, 1996 is filed, the Adjudicating Authority is duty bound to first decide the application under Section 7 of the IB Code

Mar 29, 2021 sclaw

SUPREME COURT OF INDIA FULL BENCH INDUS BIOTECH PRIVATE LIMITED — Appellant Vs. KOTAK INDIA VENTURE (OFFSHORE) FUND (EARLIER KNOWN AS KOTAK INDIA VENTURE LIMITED) AND OTHERS — Respondent (…

I B C

IBC – Adjudicating Authority cannot interfere on merits with the commercial decision taken by the Committee of Creditors – Limited jurisdiction in matter of approval of resolution plan – Jurisdiction of the Appellate Authority is also circumscribed by the limited grounds of appeal provided in Section 61 of the Code

Mar 28, 2021 sclaw

SUPREME COURT OF INDIA FULL BENCH JAYPEE KENSINGTON BOULEVARD APARTMENTS WELFARE ASSOCIATION AND OTHERS — Appellant Vs. NBCC (INDIA) LIMITED AND OTHERS — Respondent ( Before : A.M. Khanwilkar, Dinesh…

I B C

Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 – Regulation 2B – Companies Act, 2013 – Section 230 – Compromise or arrangement – A person who is not eligible under the IBC to submit a resolution plan for insolvency resolution of the corporate debtor shall not be a party in any manner to such compromise or arrangement.

Mar 21, 2021 sclaw

SUPREME COURT OF INDIA DIVISION BENCH ARUN KUMAR JAGATRAMKA — Appellant Vs. JINDAL STEEL AND POWER LIMITED AND ANOTHER — Respondent ( Before : Dr. Dhananjaya Y. Chandrachud and M.R.…

I B C

Commercial wisdom of Committee of Creditors “CoC” is not to be interfered with, excepting the limited scope as provided under Sections 30 and 31 of the I&B Code – Paramount importance given to the decision of CoC. HELD NCLAT was not correct

Mar 14, 2021 sclaw

SUPREME COURT OF INDIA FULL BENCH KALPRAJ DHARAMSHI AND ANOTHER — Appellant Vs. KOTAK INVESTMENT ADVISORS LIMITED AND ANOTHER — Respondent ( Before : A.M. Khanwilkar, B.R. Gavai and Krishna…

I B C

Termination of Power Purchase Agreement stayed by NCLT – Residuary jurisdiction of NCLT under Section 60(5)(c) of the IBC provides it a wide discretion to adjudicate questions of law or fact arising from or in relation to the insolvency resolution proceedings – If the jurisdiction of the NCLT were to be confined to actions prohibited by Section 14 of the IBC, there would have been no requirement for the legislature to enact Section 60(5)(c) of the IBC.

Mar 14, 2021 sclaw

SUPREME COURT OF INDIA DIVISION BENCH GUJARAT URJA VIKAS NIGAM LIMITED — Appellant Vs. MR. AMIT GUPTA AND OTHERS — Respondent ( Before : Dr. Dhananjaya Y Chandrachud and M.…

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Corporate

Validity of State rule providing for cancellation of Form C declaration — The power to prescribe the form of declaration (Form C) required under Section 8(4) of the CST Act, and the particulars to be contained therein, is conferred upon the Central Government under Section 13(1)(d) — The Central Government exercised this power by framing the Central Sales Tax (Registration and Turnover) Rules, 1957, which prescribe Form C (Rule 12(1)) but do not contain any provision empowering any authority to cancel such a declaration once issued.

Apr 19, 2025 sclaw

Bail Declined

Cancellation of Bail — Factors for Consideration — Child Trafficking — Appeals preferred by victims (kith and kin of trafficked children) assailing High Court orders granting bail to accused involved in a large-scale, organized, interstate child trafficking racket — The offences alleged involve kidnapping, buying, and selling of minor children primarily from impoverished backgrounds, punishable under Ss. 363, 311 & 370(5) IPC —High Court’s approach found to be callous, overlooking critical aspects including the organized nature of the crime and the subsequent absconding of several accused post-bail, thereby jeopardizing the trial.

Apr 16, 2025 sclaw

Specific Performance

A buyer’s continuous readiness and willingness to perform their part of an Agreement to Sell, a prerequisite for seeking specific performance, is negated by their conduct of accepting and encashing a substantial portion of the refunded earnest money/advance

Apr 15, 2025 sclaw

Service

The 18-month Diploma in Elementary Education (D. El. Ed.) programme conducted by the National Institute of Open Schooling (NIOS) through Open Distance Learning (ODL) mode, pursuant to the NCTE Recognition Order dated 22.09.2017, was a specific, one-time measure necessitated by the Right of Children to Free and Compulsory Education (Amendment) Act, 2017

Apr 15, 2025 sclaw

Category: I B C

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