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Supreme Court Rules States Cannot Cite Financial Burden To Delay Judges Retiring At Sixty-Two
06 Aug 2026
Rajasthan High Court Demands Comprehensive Affidavit To Remove Encroachments Affecting Critical Ramgarh Dam Water Flow
06 Aug 2026
How Does Algorithmic Bias In Forest Governance Impact Adivasi Rights In Modern India Today?
06 Aug 2026
Christ University Pune Lavasa Hosts International Conference On Indian Knowledge Systems And Global Governance
06 Aug 2026
Bombay High Court Rules Pre-2015 Unilateral Arbitrator Appointments Valid if Contractually Authorized by Agreement
06 Aug 2026
Madras High Court orders TASMAC to issue bills for every liquor sale amid overcharging row
07 Aug 2026
Why Does Institutional Paralysis Persist Within India’s Lower Judiciary Recruitment Processes Across All State Boards?
07 Aug 2026
Ernst & Young Announces Applications for Senior Associate Role in Legal Practice
08 Aug 2026
Kerala High Court Salutes R. Rajesh's Supreme Sacrifice, Urges Vigilance in Kochi Flood Prevention
08 Aug 2026
Search Results for "Banking, Finance & Insolvency News | Supremetoday AI"
The National Company Law Tribunal (NCLT) has jurisdiction to entertain insolvency applications against personal guarantors even when no Corporate Insolvency Resolution Process (CIRP) is pending against the corporate debtor.
#InsolvencyLaw #NCLT #PersonalGuarantors #NationalCompanyLawAppellateTribunal
NCLT Affirms Jurisdiction Over Personal Guarantors in Insolvency CasesCategory: Insolvency LawSub-Category: Personal GuarantorsSubject: Jurisdiction of NCLTBackgroundIn a significant ruling, the National Company Law Appellate Tribunal (NCLAT) addressed the jurisdiction of the National Company...
The court upheld the mandatory nature of timelines in the liquidation process, emphasizing that failure to comply with payment deadlines results in forfeiture of the earnest money deposit (EMD).
#InsolvencyLaw #Liquidation #LegalJudgment #NationalCompanyLawAppellateTribunal
Court Upholds Forfeiture of Earnest Money in Best Foods Ltd. Liquidation CaseBackgroundIn a significant ruling, the National Company Law Appellate Tribunal (NCLAT) addressed the case involvingBest Foods Limited, which was undergoing liquidation. The liquidator,Vikram Bajaj, had initiated an e...
The Supreme Court ruled that the right to claim set-off in the Corporate Insolvency Resolution Process (CIRP) is not recognized under the Insolvency and Bankruptcy Code, 2016, thereby emphasizing the principle of pari passu among creditors.
#InsolvencyLaw #CorporateLaw #SetOffRights #SupremeCourtSupremeCourt
Supreme Court Clarifies Set-off Rights in Corporate Insolvency Resolution ProcessBackgroundIn a significant ruling, the Supreme Court of India addressed the contentious issue of set-off rights during the Corporate Insolvency Resolution Process (CIRP) in the case ofBharti AirtelLimited and Ano...
The Tamil Nadu Industrial Investment Corporation Limited retains the right to recover debts from guarantors even after the liquidation of the principal debtor, as per the provisions of the State Financial Corporations Act, 1951.
#DebtRecovery #FinancialLaw #GuarantorLiability #MadrasHighCourt
Court Upholds Debt Recovery Rights of Tamil Nadu Industrial Investment CorporationBackgroundIn a significant ruling, the High Court of Judicature at Madras addressed the case ofTamil Nadu Industrial Investment Corporation Limited (TIIC)againstM/s. Pulsar Electronics Ltdand its guarantors. The...
The National Company Law Tribunal (NCLT) has jurisdiction to entertain applications under Section 95 of the Insolvency and Bankruptcy Code (IBC) against personal guarantors, even when no Corporate Insolvency Resolution Process (CIRP) is pending against the corporate debtor.
#InsolvencyLaw #NCLT #PersonalGuarantors #NationalCompanyLawAppellateTribunal
NCLT Affirms Jurisdiction Over Personal Guarantors in Insolvency ProceedingsBackgroundIn a significant ruling, the National Company Law Appellate Tribunal (NCLAT) addressed the jurisdiction of the National Company Law Tribunal (NCLT) in relation to insolvency proceedings against personal guar...
Insurance companies must prove any allegations of fraud to escape liability under an insurance policy.
#InsuranceLaw #CompensationClaims #LegalJudgment #SupremeCourtSupremeCourt
High Court Upholds Compensation for Road Accident VictimsBackgroundThe recent judgment from the High Court of Punjab and Haryana has upheld the compensation awarded by the Motor Accidents Claim Tribunal (MACT) to the family of Sh.Om Prakashand Smt.Asha Rani, who tragically died in a road acci...
NCLT Denies Post-Facto Litigation Approval to Liquidator; Mandates Prior Stakeholders' Committee Consultation (Sec 33(5) IBC & Reg 31A Liquidation Process Regs)
#NCLT #IBC #LiquidatorsDuties #NationalCompanyLawTribunal
NCLT Denies Liquidator's Post-Facto Litigation Approval, Stresses Need for Stakeholder Committee Nod Chandigarh:The National Company Law Tribunal (NCLT), Chandigarh Bench, comprising Hon'ble Mr.Harnam Singh Thakur(Judicial Member) and Hon'ble Mr.Umesh Kumar Shukla(Technical Member), has dismi...
The court upheld the termination of Corporate Insolvency Resolution Proceedings (CIRP) initiated under false pretenses, confirming that the application was filed with fraudulent intent and not for genuine insolvency resolution.
#InsolvencyLaw #CorporateFraud #BankruptcyCourt #NationalCompanyLawAppellateTribunal
Court Upholds Termination of Insolvency Proceedings Against Sharp Eye Advertising Pvt. Ltd.BackgroundIn a significant ruling, the National Company Law Appellate Tribunal (NCLAT) addressed the appeal filed by financial creditors of Sharp Eye Advertising Pvt. Ltd. against the termination of Cor...
NCLT Mumbai Approves Rite Builtec's ₹37 Crore Resolution Plan by Aspect Global Under Sec 30(6) IBC; Reaffirms Limited Judicial Review Post-CoC's Unanimous Nod
#IBC #ResolutionPlan #NCLT #NationalCompanyLawTribunal
NCLT Mumbai Greenlights ₹37 Crore Resolution Plan for Rite Builtec, Emphasizes Limited Scope of Judicial Review Mumbai, January 16, 2025– The National Company Law Tribunal (NCLT), Mumbai Bench, comprising Ms.Anu Jagmohan Singh(Member Technical) and Mr. Kishore Vemulapalli (Member Judicial), h...
The court ruled that assessment proceedings under the Employees' Provident Fund & Miscellaneous Provisions Act cannot continue after the imposition of a moratorium under Section 14 of the Insolvency and Bankruptcy Code, and claims based on such assessments made during the moratorium cannot be admitted in the Corporate Insolvency Resolution Process.
#InsolvencyLaw #CorporateDebtor #LegalJudgment #NationalCompanyLawAppellateTribunal
Court Rules onMoratoriumand Assessment Proceedings in Insolvency CasesCategory: Insolvency LawSub-Category: Corporate Insolvency Resolution ProcessSubject:Moratoriumand Assessment ProceedingsBackgroundIn a significant ruling, the Supreme Court addressed two appeals concerning the rejection of...
