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High Court of Bombay Quashes Show Cause Notices Against Insolvency Professional. Court Rules Suspension of Authorization for Assignment Without Proper Jurisdiction; Declares Clauses of Regulations Ultra Vires.

The Bombay High Court has set aside the show cause notices issued to Kairav Anil Trivedi by the Insolvency & Bankruptcy Board of India (IBBI). The...

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Supreme Court Upholds Bombay High Court's Interpretation of 'Drawer' Under NI Act. Clarifies that authorized signatories of a company are not liable to pay interim compensation under Section 143-A for dishonoured cheques

The Supreme Court dismissed the appeals challenging the Bombay High Court's decisions dated 08.03.2023 and 29.03.2023. These decisions had set aside t...

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Supreme Court Affirms Guarantor's Independent Liability Despite Resolution Plan. Guarantor's obligations remain intact; assets of subsidiaries excluded from holding company’s resolution plans, creditor rights upheld

The Supreme Court of India affirmed that the approval of a resolution plan for a corporate guarantor does not absolve the principal borrower of its li...

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Finance Company Challenges Arbitration Halt Due to Insolvency Moratorium. Petitioner disputes arbitrator's orders citing moratorium scope under IB Code, seeks continuation against non-insolvent guarantors.

The petitioner, a finance company, challenges two orders by an arbitrator that halted arbitration proceedings due to a moratorium under Section 95 of ...

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Appeal Dismissed as Infructuous After Final Decree in Suit. Supreme Court dismisses appeal against High Court order due to subsequent final decree in the suit, rendering the appeal moot.

Civil Appeal arises from the Order passed by the High Court of Karnataka on 21st March 2022 in Writ Petition No. 10975 of 2020 (GM-CPC). The High Cour...

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Supreme Court Validates NCLAT's Ruling on Financial Debt Classification under IBC. Global Credit Capital Limited and others deemed financial creditors in Mount Shivalik Industries Ltd. insolvency case.

The Supreme Court upheld the decision of the National Company Law Appellate Tribunal (NCLAT), confirming that the appellants are financial creditors u...

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"Supreme Court Reinforces Special Court's Jurisdiction Under Insolvency and Bankruptcy Code" "IBC Offenses to Be Tried by Special Courts as Legislated, Despite Amendments to the Companies Act"

The Supreme Court addressed an appeal filed by the Insolvency and Bankruptcy Board of India (IBBI) against a Bombay High Court judgment that quashed a...