Latest court orders, judgments, and legal developments from Indian courts — AI-curated and summarized.
FeaturedSAT Mumbai quashes multiple SEBI penalties imposed pre-acquisition after IBC resolution, citing Sections 31 and 32A, affirming liability extinguishment upon plan approval.
FeaturedNCLT Mumbai admitted a ₹70.72 crore Section 7 IBC petition, rejecting claims that MSME status nullifies debt liability or default under the Code.
FeaturedNCLAT ruled that converting a Section 61 IBC appeal to a Section 421 Companies Act appeal does not preserve limitation or allow exclusion under Section 14 of the Limitation Act.
FeaturedThe Securities Appellate Tribunal (Mumbai) quashed multiple SEBI penalties post-IBC resolution, citing Section 32A protection and the Monnet Ispat precedent. Liabilities extinguished under approved resolution plans cannot be revived.
FeaturedNCLAT confirms ₹437.02 lakh contribution against suspended directors for round-tripping funds and fraudulent property deals under IBC.
FeaturedThe NCLAT clarifies that Section 14 moratorium under IBC protects only the corporate debtor, not its directors, allowing criminal and homebuyer claims to proceed.
FeaturedSAT Mumbai ruled that an approved resolution plan under IBC bars SEBI from imposing penalties on a corporate debtor, though penalties on defaulting directors may still apply.
FeaturedSAT holds approved resolution plan under IBC immunizes corporate debtor from SEBI penalties, though directors' violations may still attract sanctions.
FeaturedNCLAT dismissed a personal guarantor’s appeal, holding that an arbitral award enforcing joint liability does not convert a guarantor into a co-borrower under IBC.
FeaturedThe NCLAT has directed the NCLT to consider a third-party intervention alleging collusion between financial creditor and corporate debtor before finalising insolvency order. Decision underscores procedural fairness in IBC process.
FeaturedThe NCLT has ordered the liquidation of a corporate debtor due to multiple defaults under an approved resolution plan, despite a significant payment of ₹171.48 crore.
FeaturedSubhash Chandra has appealed against a recent NCLT decision reducing his liability from ₹22,000 crore to ₹6.25 crore. Creditors are expressing strong discontent, claiming the ruling significantly undermines their recovery prospects.