Insights & Resources

NCLT reaffirms that the IBC cannot override PMLA enforcement; RPs must approach the PMLA authority to unfreeze attached assets.

NCLAT upholds IBC’s supremacy over tax laws, ruling that government tax dues do not qualify as secured debt in insolvency proceedings.

A Supreme Court ruling reignites the debate on literal vs. purposive statutory interpretation, shaping the future of insolvency law.

NCLT Mumbai dismisses CIRP application, citing a pre-existing dispute and the Section 10A COVID-19 moratorium under the IBC.

NCLAT rules that the moratorium under Section 101 of the Insolvency and Bankruptcy Code is mandatory and cannot exceed 180 days.

The NCLAT rules that EPFO’s late claims in insolvency cases are barred under the IBC moratorium, reinforcing finality in CIRP resolutions.

NCLT holds that in absence of CIRP against the corporate debtor, Section 95 proceedings against the personal guarantor are not maintainable.

NCLAT reinforces strict limitation rules under IBC, rejecting condonation pleas and upholding creditor autonomy in insolvency cases.

The Supreme Court clarifies financial debt under the IBC, recognising obligations in a Deed of Hypothecation as enforceable guarantees.

Decree Holders' claims under IBC are subject to the resolution plan's finality, ensuring extinguishment of unaddressed pre-approval dues.

The Bombay High Court affirms the IBC’s primacy over SEBI rules, balancing delisting regulations with insolvency resolution objectives.

Personal guarantors can claim creditor rights in CIRP only after discharging liabilities, ensuring fair voting rights for secured creditors.

The NCLAT Chennai upheld the priority of selling a corporate debtor as a going concern, aligning with the IBC's goals of value maximisation.

NCLAT clarifies that an interim moratorium under s. 96 applies only to the personal debts of a guarantor, not to partnership assets.

The NCLAT ruled that assets excluded before CIRP initiation, like cancelled leasehold plots, cannot be included in the corporate resolution

NCLAT confirms in Times Innovative Media case: unsecured financial creditors precede operational creditors in IBC liquidation order.

Exploring key court rulings that shape personal insolvency laws in India, focusing on debtor-creditor dynamics and legal frameworks.

Section 12A under IBC allows businesses to settle insolvency, regain control, and avoid liquidation through creditor-approved resolutions.

NCLAT rules MPVAT tax dues cannot be classified as secured debt in insolvency, reinforcing IBC's creditor hierarchy and priority rules.

Explore the Clean Slate Theory under the IBC, detailing how resolution plans can offer companies a fresh start by extinguishing past claims.