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...

Supreme Court Issues Notice On NBCC Plea Seeking RERA Exemption For 16 Supertech Projects

The Supreme Court on Monday issued notice on National Buildings Construction Corporation (India) Ltd's plea against the National Company Law Appellate Tribunal's refusal to exempt it from statutory requirements under the Real Estate (Regulation and Development) Act, 2016 (RERA). The exemption was sought in connection with NBCC's role in completing 16 stalled Supertech Ltd projects. A bench of Chief Justice Surya Kant and Justices Joymalya Bagchi and V. Mohana issued a notice on the plea. The...

Underlying Contract's Subsistence Cannot Revive Time-Barred Debt Under IBC: Supreme Court

The Supreme Court on Wednesday held that the mere subsistence of an underlying contract cannot give a creditor a continuing cause of action for an IBC default that has already occurred. It consequently ruled that a time-barred debt cannot be revived through insolvency proceedings.Justices J.B. Pardiwala and Manoj Misra held that the operational creditor's claims had crystallized in 2012, but it failed to pursue them within three years. The Court held that the insolvency application filed in 2018...

Uncrystallised EPFO Interest, Damages Are Contingent Liabilities Under IBC: Supreme Court

The Supreme Court has recently held that interest and damages on unpaid provident fund dues, if not determined before the commencement of the Corporate Insolvency Resolution Process (CIRP), are contingent liabilities. "Though PF dues are excluded from the liquidation estate under Section 36(4)(iii) of IBC, liability of CD towards interest and damages payable under Section 7Q and 14B of the 1952 Act, if not determined and finalized before CIRP commencement, would fall in the category of a...

Supreme Court Upholds CIRP Against Rana Kapoor-Linked Bliss Companies

The Supreme Court on Friday refused to interfere with the National Company Law Appellate Tribunal's (NCLAT) judgment upholding the initiation of corporate insolvency resolution proceedings (CIRP) against Rana Kapoor-linked Bliss Abode Pvt. Ltd. and Bliss House Pvt. Ltd. It dismissed the appeals filed by suspended director Bindu Kapoor. A bench of Justices Sanjay Kumar and Sanjeev Sachdeva declined to interfere with the NCLAT's decision upholding the admission of Section 7 applications filed by...