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Supreme Court Upholds Commercial Wisdom of CoC in DHFL Insolvency, Sets Aside NCLAT’s Interference in Resolution Plan. Recoveries from Avoidance Applications Under Section 66 IBC to Benefit SRA; FD Holders’ Claims Dismissed

Commercial Wisdom of CoC – The Supreme Court reaffirmed the paramount status of the Committee of Creditors’ (CoC) commercial wisdom in approving ...

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National Company Law Appellate Tribunal Allows Appeals by Appellant Creditor in IBC Case -- Sets Aside Orders Directing Appellant to Approach GIDC Appellate Authority and Remitting Resolution Plan -- Termination of Lease During Moratorium Held Invalid Under Section 14 of IBC

The National Company Law Appellate Tribunal (NCLAT) allowed two appeals filed by the Resolution Professional (RP) and the largest financial creditor o...

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Supreme Court of India — Appeal Dismissed — No Ownership or Leasehold Rights Conferred — Remedy for Recovery of Possession or Unearned Income Kept Open

Lease Agreement Not Executed — No Transfer of Leasehold Rights — Auction Sale on 'As Is' Basis — Rights Under Lease Agreement Limited — Liquid...

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Supreme Court Clarified the Scope of Interim Moratorium under Section 96 of the Insolvency and Bankruptcy Code, 2016 – Held That Regulatory Penalties Imposed by the Consumer Protection Act, 1986, Are Not Covered

Invoking Insolvency Proceedings Cannot stay execution of Penalty Orders for Consumer Protection Law Violations – The Apex Court Upheld the NCDRC’s...

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Bombay High Court Issued Writ of Prohibition Against Proceedings by Non-Financial Institution

Constitution of India, 1950 (COI) – Article 226 and Article 227 – High Court’s writ jurisdiction to issue Writ of Prohibition when there is a cl...

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National Company Law Appellate Tribunal Dismisses Appeals by Suspended Director Challenging Withdrawal of CIRP Application Under Section 12A of IBC -- Orders Permitting Withdrawal and Deletion of Suspended Management Upheld

The National Company Law Appellate Tribunal dismissed Appeals by Appellant, Suspended Director, against orders of the Adjudicating Authority related t...

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Supreme Court Upholds Auction Validity: Battle Over Mortgage Redemption and Property Title. A landmark ruling interpreting the SARFAESI Act clarifies borrower and auction purchaser rights amidst contested mortgage and property transfer cases.

The Supreme Court adjudicated a dispute arising from a public auction under the SARFAESI Act involving Celir LLP (auction purchaser), Sumati Prasad Ba...

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Upholding Procedural Validity in SARFAESI Proceedings. "Reaffirming the ministerial role of courts under Section 14 of the SARFAESI Act."

The Bombay High Court, examined procedural aspects under the SARFAESI Act concerning the non-compliance with the requirements of Section 13(2) and Sec...