Filing of Applications under IBC, 2016 : Supreme Court Clarifies the Legal Position
It has been held till the objections in an application filed under Sections 7, 9 or 10 of the Insolvency and Bankruptcy Code, 2016 are removed, it is not to be treated as an application validly filed, as it is only after the application is complete in every respect that it is required to be entertained.
Satinder Singh Bhasin versus Col. Gautam Mullick [2026] GCtR 99 (SC)
IBC, 2016 and Invoking Provisions on Failure of Resolution Professional : Supreme Court Analyses the Law
If the Resolution Professional, in a given CIRP does not move an application, resort to S.47 of the IBC, 2016 could be had vis-à-vis undervalued transactions by a creditor, member or a partner of a corporate debtor as the case may be and they may move an application to the Adjudicating Authority to declare such transactions void and reverse their effect in accordance with the provisions of the IBC.
Gloster Ltd v. Gloster Cables Ltd [2026] GCtR 61 (SC)
Role of Committee of Creditors under IBC, 2016 : Supreme Court Clarifies the Scope of Powers
Where the Committee of Creditors under IBC, 2016, upon due consideration, finds it not viable to approve handover of possession in terms of Regulation 4E of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, it shall mandatorily record cogent and specific reasons in writing for such decision.
Elegna Co-op. Housing and Commercial Society Ltd v. Edelweiss ARC Ltd [2026] GCtR 43 (SC)
Scope of Section 9 of Arbitration and Conciliation Act, 1996 Answered in a recent Judgment passed in July 2026 S.9 of Arbitration and Concil...