Tag: IBC
Supreme Court Holds Homebuyers Who Secure Decree under RERA Are Not Different from Other Financial Creditors Under IBC
In a notable judgment[1], the Hon’ble Supreme Court (“SC”) held that homebuyers cannot be treated differently from other ‘financial creditors’ under the Insolvency and Bankruptcy Code, 2016 (IBC) merely on the ground of securing favorable
Supreme Court Upholds that Dues of Central Board of Indirect Taxes & Customs, Department of Revenue to be paid according to the Waterfall Mechanism
In a notable Judgment dated 30.10.2023 in the case of Principal Commissioner of Customs V Rajendra Prasad Tak & Ors[1], the Hon’ble Supreme Court held that the dues of the Central Board of Indirect Taxes
IBBI Proposes Measures to Smoothen IBC Process for Real Estate Projects
In what appears to be a huge relief for homebuyers, the Insolvency and Bankruptcy Board of India (IBBI) in its Discussion Paper titled ‘Real-Estate Related Proposals- CIRP & Liquidation’ has proposed five measures to smoothen
Supreme Court Upholds Constitutional Validity of Insolvency Resolution Provisions Pertaining to Personal Guarantors
The Supreme Court in Surendra B. Jiwrajika and Anr. vs. Omkara Assets Reconstruction Private Limited[i] upheld the constitutionality of the provisions under Part-III, Chapter-III of the Insolvency and Bankruptcy Code, 2016 (I&B Code) pertaining to
Liquidator Has No Absolute Discretion to Cancel a Valid Auction on a Mere Expectation of Fetching a Higher Price: Supreme Court of India
The Hon’ble Division Bench of the Supreme Court of India, comprising of Justice B. V. Nagarathna and Justice Ujjal Bhuyan, in a recent appeal in the matter of Eva Agro Feeds Private Limited vs. Punjab
Decision in Vidarbha Industries is the Exception not the Rule: Supreme Court
A Division Bench of the Supreme Court, comprising of Justice Abhay S. Oka and Justice Rajesh Bindal in M. Suresh Kumar Reddy v. Canara Bank & Ors.[1] vide Judgement dated 11.05.2023, has held that once
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