Insolvency Bulletin-IBC Laws

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Insolvency Bulletin-IBC Laws (English)

Are you in the field of Insolvency and looking for the latest updates and information on Indian Insolvency Laws? Look no further, because IBC Laws is here to provide you with a complete guide to navigate through the complex world of Insolvency. IBC Laws, also known as Insolvency Bulletin, is a Telegram channel dedicated to keeping professionals in the Insolvency sector up-to-date with the most recent developments in Insolvency Laws in India. Whether you are a lawyer, consultant, accountant, or anyone working in the Insolvency field, this channel is your go-to source for all the essential information you need to excel in your profession. From case studies to analysis of recent court decisions, IBC Laws covers a wide range of topics related to Insolvency Laws in India. The channel is constantly updated with the latest news and insights, ensuring that you are always informed about the changing landscape of Insolvency regulations. By joining IBC Laws on Telegram with the username @ibclaws, you will gain access to a community of like-minded professionals who are passionate about Insolvency and are eager to share their knowledge and expertise. You will also have the opportunity to participate in discussions, ask questions, and network with other professionals in the field. Don't miss out on the opportunity to stay ahead of the curve in your Insolvency profession. Join IBC Laws on Telegram today and take your career to the next level!

Insolvency Bulletin-IBC Laws

15 Feb, 12:58

Summary of the Landmark judgment of Supreme Court on the interplay between the IBC and the Competition Act is available now

The complete summary of this landmark judgment is divided in the following sections:
I.A Objections on Locus Standi
I.B.1 Interpretation of Insolvency Code
I.B.2 Principle of Plain Meaning
I.B.3 Legislative debates, committee reports, Memorandum and/or historical contexts may be looked at with a degree of caution
I.B.4 Dismissal of an SLP do not constitute any declaration of law or binding precedent
I.B.5 Interpretation of a Proviso to a statute
I.C Interpretation of Proviso to Section 31(4) of IBC
I.D A Resolution Plan approved by the CCI should only be placed before CoC
I.E Disharmony between the stipulated timeline to be followed under the IBC and the Competition Act
I.E.1 Submission of an application before CCI need not necessarily wait until the Resolution Plan is submitted
I.E.2 Upper limit of 330 days within the CIRP timeline
I.E.3 RP’s duty to examine each Resolution Plan whether it contravenes any provisions of law
I.E.4 Modification in Resolution Plan
I.F The interplay between the IBC and the Competition Act
I.G Practical Challenges with Conditional Approvals
I.H Conclusion

Read here: https://ibclaw.in/independent-sugar-corporation-ltd-vs-girish-sriram-juneja-and-ors-supreme-court/

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Insolvency Bulletin-IBC Laws

15 Feb, 05:34

RERA:
A Trust is covered under Section 2(zg)(vi) of Real Estate (Regulation and Development) Act, 2016 (RERA) – Madhya Pradesh High Court
Shri Justice Vishal Dhagat

Case Citation: (2025) ibclaw.in 140 HC

Hon’ble Madhya Pradesh High Court held that on going through the definition given in Section 2 (zg) (vi) of Real Estate (Regulation and Development) Act, 2016, it is found that petitioner is covered under clause (vi) because Trust is also an association of person. Further date of registration of Trust only signifies that Trust has come into an existence and it will work under same registration.

https://ibclaw.in/shree-shankar-ji-maharaj-trust-vs-madhya-pradesh-real-estate-madhya-pradesh-high-court/

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Insolvency Bulletin-IBC Laws

15 Feb, 05:34

RERA:
Whether the statutory mandate of getting completion certificate be waived by the issuance of a mere letter by Panchayat? – Madras High Court
Mrs. Justice J. Nisha Banu and Mr. Justice R. Sakthivel

Case Citation: (2025) ibclaw.in 110 HC

When Section 2(h) (ii) of the TN RERA Act is read in consonance with Section 11 (4)(b) of the RERA Act, which states that it is the duty of the promoter to obtain the completion certificate or the occupancy certificate, or both, as applicable, from the relevant competent authority as per local laws or other laws for the time being in force and to make it available to the allottees individually or to the association of allottees, as the case may be. In the present case on hand, as obtaining completion certificate is not a discretionary but a mandatory one as per the provisions mandated under the TNRERA Act, the same cannot be waived by any other similar letter issued by the Panchayat under the guise of alleged completion.

https://ibclaw.in/p-anandasundaresan-vs-akshaya-pvt-ltd-madras-high-court/

Insolvency Bulletin-IBC Laws

15 Feb, 05:34

Annual Case Digest
Year 2024: High Court judgments of 2024 on Arbitration & Conciliation and Dispute Resolution| Annual Case Digest 2024

https://ibclaw.in/year-2024-high-court-judgment-of-2024-on-arbitration-conciliation-and-dispute-resolution-annual-case-digest-2024/

Insolvency Bulletin-IBC Laws

15 Feb, 05:34

Annual Case Digest
Year 2024: NCLT Mumbai Case Laws Annual Digest-2024 on Insolvency and Bankruptcy Code, 2016 (IBC) and Companies Act, 2013 | Case Digest 2024 NCLT Part-II

https://ibclaw.in/year-2024-nclt-mumbai-case-laws-annual-digest-2024-on-insolvency-and-bankruptcy-code-2016-ibc-and-companies-act-2013-case-digest-2024-nclt-part-ii/

Insolvency Bulletin-IBC Laws

15 Feb, 05:34

Important judgment under RERA
Whether Promoter is entitled under RERA to file a complaint before the Adjudicating Officer, claiming compensation from Allottees

Hon’ble Kerala High Court held that:
(i) None of the provisions of the RERA provides any substantive right to the Promoter to claim compensation from the Allottee.
(ii) ‘Any aggrieved person’ occurring in Section 31 includes Promoter also. But as the RERA or the Rules and Regulations made thereunder do not provide any right to claim compensation in favour of the Promoter, the Promoter cannot file a Complaint before the Adjudicating Officer.
(iii) The Promoter has every right to get his grievance with respect to claim for compensation redressed through other modes including through Civil Court

Read here: https://ibclaw.in/gopakumar-b-nair-vs-k-v-sugunan-and-ors-kerala-high-court/

Insolvency Bulletin-IBC Laws

15 Feb, 05:34

RERA
Power of the RERA is not restricted to a penalty or compensation but the orders or the direction can be executed as a decree under Order XXI of the Code of Civil Procedure?

Hon’ble Calcutta High Court held that the conjoint reading of the various provision in the RERA Act leaves no ambiguity in our mind that the power of the regulatory authority is not restricted to a penalty or compensation but the orders or the direction can be executed as a decree under Order XXI of the Code of Civil Procedure either by itself or by the principal Civil Court and, therefore, it cannot be said that the said Act does not contain a provision relating to a complete redressal of the dispute involved therein. The Regulatory Authority is vested with the power to ensure the compliance not only of the Act, Rules or the Regulation but also the obligations contained therein and also to have such orders or direction to be executed so as to bring quietus to the lis.

https://ibclaw.in/deepak-mawandia-vs-shree-rsh-projects-pvt-ltd-calcutta-high-court/

Insolvency Bulletin-IBC Laws

14 Feb, 05:24

Insolvency:
Can an Assignee get a seat in the CoC, even if the assignor was a related party of the Corporate Debtor and assignment deed executed after commencement of CIRP? – NCLAT New Delhi
Mr. Justice Ashok Bhushan (Chairperson), Mr. Barun Mitra (Technical Member) and Mr. Arun Baroka (Technical Member)

Impugned Order: Greenshift Initiatives Pvt. Ltd. v. Sonu Gupta (RP) (2024) ibclaw.in 716 NCLT

Corporate Debtor: Rolta Bi & Big Data Analytics Pvt. Ltd.

For Appellant(s): Mr. Rahul Chitnis, Ms. Priyambada Mishra, Advocates.

For Respondent(s): Ms. Sonu Gupta, RP in person

Case Citation: (2025) ibclaw.in 99 NCLAT

https://ibclaw.in/greenshift-initiatives-pvt-ltd-vs-sonu-gupta-rp-of-rolta-bi-big-data-analytics-pvt-ltd-nclat-new-delhi/

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Insolvency Bulletin-IBC Laws

14 Feb, 05:24

Insolvency:
CoC is not entitled to consider any other request for consideration of any Resolution Plan, after it has approved the Resolution Plan, which is pending consideration for approval before NCLT – NCLAT New Delhi
Mr. Justice Ashok Bhushan (Chairperson), Mr. Barun Mitra (Technical Member) and Mr. Arun Baroka (Technical Member)

Case Citation: (2025) ibclaw.in 103 NCLAT

Hon’ble NCLAT held that:

(i) Resolution Plan even prior to the approval of the Adjudicating Authority is binding inter se the CoC and the SRA.
(ii) The CoC is clearly not entitled to consider any other request for consideration of any Resolution Plan, after it has approved the Resolution Plan, which is pending consideration for approval before the Adjudicating Authority.
(iii) The Appellant claiming to be Promoter of the CD had no authority or jurisdiction to submit/file a Resolution Plan for consideration, nor the prayer made by the Appellant that Resolution Plan submitted by the Appellant be placed before the CoC, could have been accepted.

https://ibclaw.in/parmesh-construction-company-ltd-vs-pramod-kumar-sharma-rp-of-international-recreation-and-amusement-ltd-nclat-new-delhi/

Insolvency Bulletin-IBC Laws

14 Feb, 05:23

Insolvency:
Whether subsequent acknowledgement of the debt through Balance Sheet, post issuance of invocation notice, be considered as an acknowledgement of the Limitation? | Whether this Application under Section 5 of Limitation Act can be allowed for considering Petition under Section 95 of IBC against the guarantor? – NCLT Hyderabad Bench
Shri Venkata Ramakrishna Badarinath Nandula (Judicial Member) and Shri Charan Singh (Technical Member)

Relevant Order: Central Bank of India v. Mr. K. Shashidhar and Anr. (2025) ibclaw.in 137 NCLT

Personal Guarantor: Mr. K. Shashidhar

Corporate Debtor: Kamineni Steel and Power India Ltd.

For Appellant(s): Mr. VVSN Raju, Counsel

For Respondent(s): Mr. P.Vikram, Senior Counsel along with Mr.B.Nitish, Counsel

Case Citation: (2025) ibclaw.in 146 NCLT

https://ibclaw.in/central-bank-of-india-vs-mr-k-shashidhar-and-anr-nclt-hyderabad-bench-2/

Insolvency Bulletin-IBC Laws

14 Feb, 05:23

Insolvency:
NCLT allows the withdrawal of proceedings initiated under Section 94 of the IBC, 2016 and terminates insolvency proceedings filed against the Personal Guarantor – NCLT Ahmedabad Bench
Mr. Shammi Khan (Judicial Member) and Shri Sameer Kakar (Technical Member)

Case Citation: (2025) ibclaw.in 133 NCLT

For Appellant(s) and For Respondent(s): Mr. Nipun Singhvi, Advocate and Mr. Mayur Jugtawat, Advocate, Mr. Sunil Kumar Agrawal, (IRP in Person), Mr. Hitesh Buch, PCS (Nutan Nagarik Bank), Mr. Mohit Gupta, Advocate

https://ibclaw.in/mr-saurabh-bharatbhushan-jain-vs-state-bank-of-india-and-ors-nclt-ahmedabad-bench/

Insolvency Bulletin-IBC Laws

14 Feb, 05:23

Insolvency:
Section 66 of IBC deals with the liability of the Director or Partner of the Corporate Debtor in the case where the director or partner “knew or ought to have known” that there was no reasonable prospect of avoiding the commencement of the insolvency process – NCLT Mumbai Bench
Ms. Reeta Kohli (Judicial Member) and Ms. Madhu Sinha (Technical Member)

Case Citation: (2025) ibclaw.in 136 NCLT

For Appellant(s): Adv. Devarajan Raman

For Respondent(s): Adv. Chirag Mody and Adv. Sagar Hate

https://ibclaw.in/rekha-shah-liquidator-of-adya-oils-and-chemicals-ltd-vs-sudhir-dinanath-chaturvedi-and-ors-nclt-mumbai-bench/

Insolvency Bulletin-IBC Laws

14 Feb, 05:22

Insolvency:
If no funds are available with Corporate Debtor, it is the liability of the Creditors to meet the cost of liquidation | The Creditors irrespective of being related party bear the cost of liquidation to be determined as per law – NCLT New Delhi Bench
Shri Ashok Kumar Bhardwaj (Judicial Member) and Shri Subrata Kumar Dash (Technical Member)

Case Citation: (2025) ibclaw.in 138 NCLT

For Appellant(s): Ms. Pooja Bahry – Liquidator in person with advocate Savar Mahajan, Adv. Srivastava Reddy

https://ibclaw.in/concept-group-vs-cns-fashions-retail-pvt-ltd-nclt-new-delhi-bench/

Insolvency Bulletin-IBC Laws

14 Feb, 05:22

Supreme Court
Whether the judgment in UOI & Anr. v. Tarsem Singh & Ors. is applicable prospectively or extends retrospectively
Mr. Justice Surya Kant and Mr. Justice Ujjal Bhuyan

Case Citation: (2025) ibclaw.in 43 SC

The Hon’ble Supreme Court reaffirms the principles established in Union of India & Anr. v. Tarsem Singh & Ors, (2019) ibclaw.in 173 SC regarding the beneficial nature of granting ‘solatium’ and ‘interest’ while emphasising the need to avoid creating unjust classifications lacking intelligible differentia. Consequently, the Hon’ble Court deems it appropriate to dismiss the present Miscellaneous Application.

https://ibclaw.in/union-of-india-and-anr-vs-tarsem-singh-and-ors-supreme-court/

Insolvency Bulletin-IBC Laws

14 Feb, 05:22

Insolvency:
NCLT dismisses application filed for replacement of the Liquidator – NCLT Mumbai Bench
Ms. Reeta Kohli (Judicial Member) and Ms. Madhu Sinha (Technical Member)

Case Citation: (2025) ibclaw.in 134 NCLT

Hon’ble NCLT Mumbai Bench held that:
(i) Regulation 31A of the IBBI (Liquidation Process) Regulations, 2016 explicitly establishes the SCC’s role as advisory in nature.
(ii) The role of the SCC and how its advice is not binding on the Liquidator
(iii) Liquidator has acted in a diligent manner ensuring maximization of the value of assets of the Corporate Debtor by selling the same in piecemeal manner.
(iv) The conduct of the Liquidator, in the present case, does not fall within the ambit of the conditions for replacement of the Liquidator as laid down by the Hon’ble NCLT in IDBI Bank Ltd. Vs. Venkata Sivakumar, (2022) ibclaw.in 628 NCLT (Upheld by the Hon’ble NCLAT), in view of Section 276 of the Companies Act, 2013.

https://ibclaw.in/stressed-assets-stabilisation-fund-vs-ms-rekha-kantilal-shah-liquidator-of-adya-oils-and-chemicals-ltd-nclt-mumbai-bench/

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Insolvency Bulletin-IBC Laws

14 Feb, 05:22

Insolvency:
Is insolvency proceeding u/s 95 of IBC against Personal Guarantor maintainable while the recovery proceedings before DRT is pending? – NCLT Hyderabad Bench
Shri Venkata Ramakrishna Badarinath Nandula (Judicial Member) and Shri Charan Singh (Technical Member)

Case Citation: (2025) ibclaw.in 137 NCLT

For Appellant(s): Mr. VVSN Raju, Counsel, Mr.Madasa Kumar, Resolution Professional

For Respondent(s): Mr.P.Vikram, Senior Counsel with Mr. B.Nitish, Counsel, Mr. Ch.Srinivasulu, Counsel

https://ibclaw.in/central-bank-of-india-vs-mr-k-shashidhar-and-anr-nclt-hyderabad-bench/

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Insolvency Bulletin-IBC Laws

07 Feb, 05:13

Arbitration:
If the ground of no personal hearing was granted by Arbitrator was not raised in the petition filed under Section 34 of Arbitration and Conciliation Act, 1996, it cannot be raised at the stage of appeal under Section 37 – Madras High Court
Mr. K.R. Shriram (Chief Justice) and Mr. Justice Senthilkumar Ramamoorthy

Case Citation: (2025) ibclaw.in 92 HC

For Appellant(s): Mr. Jayesh B.Dolia Senior Counsel for M/s. Aiyar and Dolia

For Respondent(s): Mr. Muralikumaran Senior Counsel for Mr. R.Gopinath for M/s. Mc Gan Law Firm

https://ibclaw.in/gopal-krishan-rathi-vs-dr-r-palani-madras-high-court/

293

Insolvency Bulletin-IBC Laws

07 Feb, 05:12

Arbitration:
Is there an absolute and complete bar to invoke writ jurisdiction under Article 226 against any order/award of the MSEFC under MSMED Act, 2006, the matter referred to a larger Bench of five Judges – Supreme Court
Mr. Justice Sanjiv Khanna (CJI), Mr. Justice Sanjay Kumar and Mr. Justice Manmohan

Case Citation: (2025) ibclaw.in 25 SC

The Hon’ble Supreme Court (3 judge Bench) refers the following issues to Constitutional Bench:

(i) Whether the ratio in India Glycols Limited (supra) that a writ petition could never be entertained against any order/award of the MSEFC, completely bars or prohibits maintainability of the writ petition before the High Court?

(ii) If the bar/prohibition is not absolute, when and under what circumstances will the principle/restriction of adequate alternative remedy not apply?

(iii) Whether the members of MSEFC who undertake conciliation proceedings, upon failure, can themselves act as arbitrators of the arbitral tribunal in terms of Section 18 of the MSMED Act read with Section 80 of the A&C Act?

https://ibclaw.in/tamil-nadu-cements-corporation-ltd-vs-micro-and-small-enterprises-facilitation-council-and-anr-supreme-court/

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Insolvency Bulletin-IBC Laws

07 Feb, 05:11

Arbitration:
Can an application under Section 34 of the Arbitration & Conciliation Act, 1996 for setting aside an arbitral award be filed without filing the copy of the award, to save the period of limitation u/s 34(3)? – Delhi High Court
Mr. Justice Subramonium Prasad

Case Citation: (2025) ibclaw.in 86 HC

For Appellant(s): Mr. Dhruv Gupta, Liza Arora Anubhav Garg, Advocates

For Respondent(s): Mr. Varun Goswami, Ms. Arpita Mishra, Advocates

https://ibclaw.in/kgf-cottons-pvt-ltd-vs-haldiram-snacks-pvt-ltd-delhi-high-court/

140

Insolvency Bulletin-IBC Laws

07 Feb, 05:11

Commercial Courts:
As per Section 2(1)(c) of Commercial Courts Act, 2015, the definition of “commercial dispute” means the dispute between the parties arose any of the clauses i.e. from clause (i) to clause (xxii) including explanation – Calcutta High Court
Justice Krishna Rao

Case Citation: (2025) ibclaw.in 78 HC

For Appellant(s): Mr. Arabinda Chatterjee, Sr. Adv., Mr. Shyamal Mukhopadhyay, Ms. Priyanka Chatterjee

For Respondent(s): Mr. Suman Dutt, Sr. Adv., Mr. Rohit Banerjee, Mr. Satrajit Sen, Mr. Subhankar Chakraborty, Mr. Saptarshi Bhattacharjee, Ms. Sayani Gupta, Ms. Neelanjana Roy, Mr. Sakabda Roy

https://ibclaw.in/sk-mansur-ali-and-anr-vs-sri-kulnath-kapoor-and-ors-calcutta-high-court/

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