AI-curated court updates, legal developments, and practice-area insights for Indian legal professionals.
The Supreme Court has upheld joint insolvency proceedings for interconnected companies, clarifying criteria for consolidated CIRPs under IBC.
The IBBI has revised pre-packaged insolvency resolution regulations to exclude related parties from acting as valuers, aiming for impartial valuation.
The NCLAT confirmed that separate supply obligations in a joint venture arrangement can qualify as operational debt under the IBC. This ruling underscores the importance of distinct agreement terms in determining insolvency proceedings.
The NCLT has ruled that an unsuccessful one-time settlement attempt does not preclude the admission of insolvency proceedings under Section 7 of the IBC.
The NCLT ruled that a financial creditor cannot be compelled to postpone insolvency proceedings based on ongoing one-time settlement discussions when the debt and default are acknowledged.
The NCLT has dissolved Oxygen Lifeline Retail following the successful resolution process under the IBC, confirming compliance with statutory requirements and e-auction of assets.
The NCLT has determined that the Employees' Provident Fund Organisation (EPFO) cannot lodge provident fund claims in corporate insolvency resolutions without prior statutory determination under the EPF Act.
The Reserve Bank of India announced the results of the underwriting auction for government securities held on May 22, 2026, determining cut-off rates for underwriting commissions due to primary dealers.
Wingreens Farms has successfully completed a ₹120 crore Series D fundraise led by Ashish Kacholia, while concurrently acquiring Safe Harvest. Antares Legal advised on both transactions.
The Calcutta High Court ruled that liability for motor vehicle tax arises only after a countersigned inter-state permit is granted. Tax demands made prior to countersignature were declared without jurisdiction.
The NCLAT ruled that an email from the Corporate Debtor acknowledging operational debt warranted the admission of a CIRP application. The Tribunal clarified that disputed issues were not genuine pre-existing disputes.
The Bombay High Court has temporarily restrained a bank from taking possession of secured assets as the Chairperson of DRAT was unavailable to hear restoration applications. Interim relief is granted until May 20, 2026.
The Calcutta High Court upheld the demand for cost recovery charges from a Container Freight Station operator, emphasizing the principle of 'substance over form' in legal obligations.