The Kerala High Court (“Kerala HC”), by its judgment pronounced on November 17, 2023, in the matter of Jeny Thankachan v. Union of India and Others [WP(C) No. 31502 of 2023], has held that the mere uploading of an application cannot be taken as filing of an application under Section 96 (Interim Moratorium) of the […]
The National Company Law Appellate Tribunal, Principal Bench, New Delhi (“NCLAT”), in its order dated October 10, 2023, in the matter of Vinay Kumar Singhal, Resolution Professional for M/s. PG Advertising Private Limited v. Mahesh Bajaj [Comp. App. (AT) (Ins) No. 645 of 2023], has held that an operational creditor, who was merely a participant […]
The Supreme Court, in its judgement dated November 9, 2023, in the matter of Dilip B. Jiwrajka v. Union of India and Others [Writ Petition (Civil) No. 1281 of 2021] (decided along with multiple other similar tagged-along writ petitions on similar legal issue), has upheld the constitutional validity of provisions of the Insolvency and Bankruptcy […]
The Supreme Court, vide its judgment dated October 19, 2023, in the matter of Infrastructure Leasing and Financial Services Limited v. HDFC Bank Limited and Another [Civil Appeal No(s). 4708 of 2022], has held that rents receivable can be assigned by a debtor to a creditor as actionable claim and dismissed an appeal assailing the […]
The Gujarat High Court (“Gujarat HC”) has, by its judgment pronounced on September 22, 2023, in the matter of KRBL Limited v. State of Gujarat [C/SCA/19804/2022], held that the purchaser of an asset in a liquidation process of a corporate debtor is not responsible for payment of any government dues, if the claim was not […]
National Company Law Appellate Tribunal, New Delhi (“NCLAT”) in the case of Beetel Teletech Limited v. Arcelia IT Services Private Limited [Company Appeal (AT)(Insolvency) No. 1459 of 2022], vide its order dated September 11, 2023, held that there is no bar on the initiation of Corporate Insolvency Resolution Process (“CIRP”) if a default is committed […]
