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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 court ruled that the claim for lease rent and damages by the Appellant, arising from a lease agreement, should be classified as Operational Debt rather than CIRP Cost, as the Appellant was not receiving rent prior to the commencement of the Corporate Insolvency Resolution Process (CIRP).
#InsolvencyLaw #CIRP #OperationalDebt #NationalCompanyLawAppellateTribunal
Court Rules on Classification of Lease Rent in Insolvency CaseBackgroundIn a significant ruling, the National Company Law Appellate Tribunal (NCLAT) addressed the appeal concerning the classification of lease rent and damages as either Operational Debt or CIRP Cost under the Insolvency and Ba...
The court ruled on the interpretation of insurance policy terms regarding death benefits and the obligations of the insurance provider in the event of a claim.
#InsuranceLaw #DeathBenefits #LegalJudgment #ConsumerState
Court Ruling ClarifiesDeath Benefitsin Insurance PoliciesCategory: Insurance LawSub-Category: Policy InterpretationSubject:Death Benefitsin Insurance PoliciesBackgroundIn a significant ruling, the court addressed the complexities surrounding death benefits in insurance policies. The case invo...
Rule 9(5) SARFAESI Rules: Forfeiture of Auction Deposit is Mandatory Statutory Consequence, Not Penal; Sections 73 & 74 Contract Act Inapplicable: Karnataka High Court
#SARFAESI #BankingLaw #Forfeiture
Karnataka High Court Upholds Canara Bank's Forfeiture of Rs 3.25 Crore Auction Deposit, Cites Mandatory Nature of SARFAESI Rules Bengaluru:The Karnataka High Court, in a significant ruling, has upheld Canara Bank's decision to forfeit an earnest money deposit of Rs 3.25 crores from auction pu...
Rule 9(5) SARFAESI Rules Mandates Earnest Money Forfeiture on Auction Default; Contract Act Principles Not Applicable: Karnataka High Court Citing SC in Shanmugavelu
#SARFAESI #Forfeiture #AuctionLaw
Karnataka HC Upholds Bank's Right to Forfeit Earnest Money on Auction Default, Cites SC's Shanmugavelu Ruling Bengaluru, Karnataka:The Karnataka High Court, in a significant judgment, has overturned a Single Judge's order that directed Canara Bank to refund Rs. 3.25 crores forfeited from defa...
The interim moratorium under Section 96 of the IBC applies only to the personal debts of the guarantor and does not extend to the assets of a partnership firm, which are distinct from the personal assets of the partners.
#InsolvencyLaw #Bankruptcy #LegalJudgment #NationalCompanyLawAppellateTribunal
Court Upholds Distinction Between Personal and Partnership Assets in Insolvency CaseBackgroundIn a significant ruling, the National Company Law Tribunal (NCLT) addressed the complexities surrounding the interim moratorium under the Insolvency and Bankruptcy Code (IBC) in the case involving Mr...
Claims submitted after the stipulated period in the Corporate Insolvency Resolution Process (CIRP) cannot be considered once a resolution plan has been approved, as it would disrupt the time-bound nature of the process.
#InsolvencyLaw #CIRP #LegalJudgment #NationalCompanyLawAppellateTribunal
Court Upholds Rejection of Claims in Corporate Insolvency Resolution ProcessBackgroundIn a significant ruling, the National Company Law Appellate Tribunal (NCLAT) addressed an appeal concerning the rejection of claims by the Income Tax Department against a corporate debtor undergoing the Corp...
The prosecution against the petitioner was quashed due to divergent findings between the Food Analyst and the Referral Food Laboratory, highlighting a procedural lacuna in the Food Safety and Standards Act.
#FoodSafety #LegalNews #FSSAct #KeralaHighCourt
Court Quashes Prosecution in Food Safety Case Due to Divergent Lab FindingsBackgroundIn a significant ruling, the Chief Judicial Magistrate Court in Thalassery addressed the case involving the petitioner, the 4th accused in S.T. No.303/2016, related to alleged violations of the Food Safety an...
The court upheld that a Corporate Debtor can be held liable as a Co-Borrower for a financial debt, affirming that the obligations of a Co-Borrower are co-extensive with those of the Principal Borrower under the Insolvency and Bankruptcy Code.
#InsolvencyLaw #CorporateDebt #LegalJudgment #NationalCompanyLawAppellateTribunal
Court Upholds Co-Borrower Liability in Insolvency CaseBackgroundIn a significant ruling, the National Company Law Tribunal (NCLT) admitted a Section 7 application under the Insolvency and Bankruptcy Code (IBC) against Narang Developers Pvt. Ltd. (NDPL), following a petition by Aditya Birla Fi...
The court upheld that the initiation of Corporate Insolvency Resolution Process (CIRP) is not maintainable when the claimed debt falls below the threshold of Rs 1 crore, particularly when part of the debt is excluded due to the provisions of Section 10A of the IBC.
#InsolvencyLaw #CorporateDebtor #NCLT #NationalCompanyLawAppellateTribunal
Court DismissesSamrat Restaurant's Appeal for Corporate Insolvency ResolutionBackgroundIn a significant ruling, the National Company Law Appellate Tribunal (NCLAT) dismissed the appeal filed by M/SSamrat Restaurantagainst the National Company Law Tribunal (NCLT) Mumbai's order dated May 22, 2...
The court upheld that pre-CIRP dues must be paid according to the approved resolution plan, and payments made after the commencement of insolvency cannot be appropriated towards pre-CIRP dues.
#InsolvencyLaw #CorporateDebtor #LegalJudgment #NationalCompanyLawAppellateTribunal
Court Upholds Resolution Plan for Pre-CIRP Dues PaymentCategory: Insolvency LawSub-Category: Corporate Insolvency Resolution ProcessSubject: Payment of Pre-CIRP DuesBackgroundIn a significant ruling, the National Company Law Appellate Tribunal (NCLAT) addressed three appeals filed by Uttarakh...
