Supreme Court
IBC Appeal Limitation Runs From NCLAT Order, Not Receipt Of Certified Copy: Supreme Court
The Supreme Court has recently ruled that the limitation period for an appeal against an NCLAT order would run from the date the order is provided, and not from the date a certified copy is obtained.“Assuming that under the NCLAT Rules, 2016, there is an obligation to provide copy of the order to the parties, the period of limitation would run from the date when the order is provided under NCLAT Rules, 2016, and not from the date when certified copy is obtained,” a Division Bench of Justice...
Supreme Court Issues Notice In Plea Against NCLAT Order Treating Deregistered NBFC As Financial Service Provider
The Supreme Court on Thursday issued notice on a challenge to a National Company Law Appellate Tribunal (NCLAT) ruling that refused to allow an NBFC to initiate insolvency proceedings against itself. The tribunal held that the company remained a financial service provider despite cancellation of its Reserve Bank of India (RBI) registration under the Insolvency and Bankruptcy Code (IBC).The NCLAT, in its April 9, 2026, order, upheld the National Company Law Tribunal (NCLT), Hyderabad Bench's...
Supreme Court Refuses To Interfere With NCLAT Ruling That IRP Remuneration Is Open To Judicial Scrutiny
The Supreme Court on Wednesday refused to interfere with a National Company Law Appellate Tribunal (NCLAT) order holding that a Committee of Creditors' decision on an Interim Resolution Professional's remuneration is subject to judicial scrutiny. However, after examining the decision on merits, the NCLAT upheld the CoC's decision to fix the IRP's total remuneration at ₹3 lakh.A Division Bench of Justices P.S. Narasimha and Alok Aradhe after hearing the parties, refused to interfere with the...
Homebuyers Cannot Be Made To Bear Penal Charges For Project Delays As CIRP Costs: Supreme Court
The Supreme Court has ruled in a case that time extension charges imposed for delays caused by a defaulting developer are penal in nature. They cannot be passed on to homebuyers as costs of the Corporate Insolvency Resolution Process (CIRP), observing that the default was that of the developer and homebuyers could not be made to bear that liability."The time extension charges in any event are penal in nature and the developer who has caused the default having ended up in a CIRP, the inclusion as...
Termination of Insolvency Process Cannot Be Challenged When Order Also Granted Relief: Supreme Court
The Supreme Court has dismissed a creditor's appeal against the termination of a company's insolvency process, observing that it failed to understand how the order could be challenged when the proceedings had been terminated and relief had also been granted through that termination.“Termination of legal proceedings cannot be a ground for assailing the same particularly when the relief has also granted by such termination of legal proceedings viz., Corporate Insolvency Resolution Process (CIRP)...
Supreme Court Issues Notice On Plea Against NCLAT Ruling Allowing ED Action During IBC Moratorium
Today, the Supreme Court issued notice on a plea by Value Wise Consultancy Private Limited, the liquidator of Siddhi Vinayak Logistics Ltd, challenging a National Company Law Appellate Tribunal (NCLAT), Delhi judgment which held that the Insolvency and Bankruptcy Code (IBC) moratorium does not stop the Enforcement Directorate (ED) from taking action under the Prevention of Money Laundering Act (PMLA). A Division Bench of Justices K.V. Viswanathan and Arun Palli issued notice, returnable on 16...
Supreme Court Refuses To Interfere With NCLAT Order Protecting Jet Airways Workmen's PF Gratuity Dues
The Supreme Court on Monday, 31 August, declined to interfere with the National Company Law Appellate Tribunal's (NCLAT) 30 June order which held that provident fund, gratuity and pension dues payable to Jet Airways' workmen do not form part of the liquidation estate, even where segregated funds were not available on the liquidation commencement date. A Bench of Chief Justice Surya Kant with Justices Joymalya Bagchi and V. Mohana refused to interfere with the order, while leaving the questions...
Supreme Court Issues Notice In Canara Bank's Plea Against NCLAT Order Setting Aside Insolvency Admission Of Equinox India Developments
The Supreme Court on Monday issued notice on Canara Bank's challenge to the NCLAT order setting aside the admission of its Section 7 insolvency petition against Equinox India Developments Ltd., formerly Indiabulls Real Estate Ltd. A Bench of Justices J.B. Pardiwala and K. Vinod Chandran said the matter requires consideration and issues notice in Canara Bank's special leave petition. The case arose from Canara Bank's insolvency proceedings against Equinox India Developments Ltd, formerly...
Supreme Court Upholds NCLAT Refusal To Entertain Allottee's Plea Seeking Refund Of Around ₹4 Lakh In Jaiprakash Associates CIRP
The Supreme Court on Tuesday upheld the National Company Law Appellate Tribunal's refusal to grant relief to an allottee of a Jaiprakash Associates Ltd. project, who had sought refund of around ₹4 lakh demanded from him towards common area charges after he had taken possession of his unit.A Bench comprising Chief Justice of India Surya Kant and Justices Joymalya Bagchi and V. Mohana after hearing the case, refused to interfere with the NCLAT order dated May 14, 2026.Counsel appearing for...
Supreme Court Stays NCLAT Order Holding NCLT Can Adjudicate Easement Dispute Linked To Liquidation Assets, Directs Mediation
The Supreme Court on Thursday stayed the operation of the National Company Law Appellate Tribunal's (NCLAT) July 29, 2026.The NCLAT held that the NCLT can adjudicate a dispute concerning an easementary right of way under the Insolvency and Bankruptcy Code where the dispute has a direct nexus with the insolvency or liquidation proceedings and affects value maximisation of the corporate debtor's assets.A 2:1 Bench of Technical Members Arun Baroka and Indevar Pandey, constituting the majority,...
Supreme Court To Examine If Winding-Up Petitions Transferred From HC To NCLT Must Meet IBC Threshold
The Supreme Court on Wednesday agreed to examine whether a winding-up petition filed before a High Court can be subjected to the ₹1 crore minimum default threshold under the Insolvency and Bankruptcy Code after being transferred to the National Company Law Tribunal. The case concerns winding-up proceedings instituted before the ₹1 crore threshold was introduced under the Code. The court will consider whether the threshold applicable when the proceedings were originally filed should continue...
'Judicial Discipline' Requires HC To Refrain From Entertaining Writ Against Appealable NCLT Order: Supreme Court
The Supreme Court has set aside a Kerala High Court order that entertained a writ petition challenging an NCLT order passed during liquidation proceedings. The court held that judicial discipline requires the High Court to refrain from entertaining such a challenge when the aggrieved person can pursue an appeal under the Insolvency and Bankruptcy Code (IBC).A Bench of Justices Manoj Misra and Vijay Bishnoi observed that Section 61 of the IBC gives a broad right of appeal to any “person...