AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The NCLT ordered liquidation of a corporate debtor as no viable resolution plan emerged, following an 80.86% vote by the Committee of Creditors (CoC). This ruling underscores the challenges in achieving resolutions under the Insolvency and Bankruptcy Code.
The National Company Law Appellate Tribunal (NCLAT) has reiterated that Section 98 can only be invoked after proving that convening an Extraordinary General Meeting (EGM) is impracticable.
The National Company Law Tribunal (NCLT) has approved Subhash Chandra's repayment plan while ruling that it can bind dissenting creditors. The plan notably excludes claims from 1,260 individuals.
The IRDAI health insurance sub-committee recommends reforms aimed at simplifying policies and expediting claims processing. The adoption of the National Health Claims Exchange (NHCX) is also emphasized.
The Government of India has announced a buyback of its dated securities through auction for an aggregate amount of ₹30,000 Crore. The move is aimed at managing government debt effectively.
The Reserve Bank of India will conduct a 15-day Variable Rate Reverse Repo (VRRR) auction on August 31, 2026, with a notified amount of ₹6,00,000 Crore. This measure is part of its liquidity management strategy.
The Government of India has announced a buyback of dated securities totaling ₹30,000 Crore through auction, signaling a move to manage government debt.
The Reserve Bank of India (RBI) has announced the exclusion of eligible Foreign Currency Non-Resident (FCNR(B)) and Non-Resident External (NRE) funded advances from the Adjusted Net Bank Credit (ANBC) calculation for Priority Sector Lending (PSL) targets, introducing specific deposit period conditions.
The SAFEMA Tribunal has upheld the attachment of ₹8.28 lakh under the PMLA, ruling that the appellant could not prove the bona fide nature of the funds due to the absence of relevant bank statements. The court emphasized that simply claiming to be a victim is insufficient without requisite evidence.
The NCLT has admitted Canara Bank's insolvency plea of ₹119.64 Crores, stating that pending Corporate Insolvency Resolution Processes (CIRP) for a principal borrower does not hinder the liability of a corporate guarantor. This ruling sets important precedents for creditor recovery.
The NCLT has rejected a personal guarantor's moratorium plea, allowing corporate insolvency proceedings for a ₹46.62 Crore financial default. This ruling clarifies the independence of corporate insolvency proceedings from guarantor status.
The NCLT has admitted an insolvency plea of ₹11.83 Crores after bank records established the financial debt and continued default. This ruling underscores the significance of documentary evidence in insolvency proceedings.
The NCLT has ordered liquidation of a company after no viable resolution plan emerged despite an extended EOI process. The Committee of Creditors (CoC) voted 80.86% in favor of liquidation, marking a significant directive in insolvency proceedings.