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Supreme Court Directs NCLT to Expedite Approval of Resolution Plan in Home Buyers' Insolvency Case, Upholding IBC Moratorium. Execution of Consumer Forum Order Stayed Under Section 14 of Insolvency and Bankruptcy Code, 2016, with Personal Liability Issues Referred to Adjudicating Authority.

The dispute involved home buyers who had entered into agreements with a developer for a housing project, with possession due in 2014. The developer ab...

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Supreme Court Upholds NCLAT Order in Insolvency Resolution Plan Approval Under Insolvency and Bankruptcy Code, 2016. Resolution Plan Found Compliant with Section 30(2) and Binding on All Stakeholders Despite Pending Creditor Claim Challenges.

The appeal arose under Section 62 of the Insolvency and Bankruptcy Code, 2016, against a judgment dated 4 January 2021 of the National Company Law App...

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Supreme Court Dismisses Appeal of NTPC Ltd. Regarding Classification of Claim in Information Memorandum Under IBC. Claim Pending Arbitration Correctly Classified as Other Creditor Claim, Not Operational Creditor Claim.

The Supreme Court disposed of a civil appeal filed by NTPC Ltd. (Simhadri Project) against Rajiv Chakraborty, the Resolution Professional. The limited...

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Supreme Court Allows Appeal in IBC Section 7 Case — NCLT Cannot Dismiss Petition Without Applying Mind to Merits. Adjudicating Authority Must Determine Default and Admit or Reject Petition Under Section 7, Not Direct Settlement Without Considering Individual Claims.

The present appeal under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) arises from a judgment of the National Company Law Appellate Tri...