NCLT Chennai dismissed a Section 7 IBC plea, holding that a loan paid to a director’s personal account is not a company’s financial debt without proof of corporate borrowing or use of funds for its business.
Read Full ArticleThe Supreme Court has held that homebuyers and a Successful Resolution Applicant cannot be penalised for a developer’s default, waiving NOIDA’s time extension charges and setting aside the NCLAT direction treating them as CIRP costs.
Supreme Court holds that suspension, idling and demobilization damages from a contract breach do not constitute operational debt under the IBC unless crystallized by a competent court or arbitral tribunal.
The article discusses India's ranking in the Ease of Doing Business Index, highlighting its challenges in resolving insolvency-related problems, which negatively impact foreign investment. To address these issues, India passed the Insolvency and Bankruptcy Code in 2016, aiming at creating a unified framework for insolvency resolution. The article outlines the key features of the code, including strict timelines, infrastructure development, and processes for corporate and individual bankruptcy.
Indian carrier SpiceJet accused of 'cannibalizing' grounded flight engine by flight engine finance lessor before the Delhi High Court.
Merely using the phrase that departure of a person will affect the economic interests of the country alone is not sufficient to sustain an LOC, the Delhi High Court has held while hearing a person's c...
The Senior Citizen Rights Handbook is a comprehensive guide designed to empower elderly citizens with clear and accessible knowledge of their legal and social rights in India.
![Loan Paid To Director’s Personal Account Is Not Company’s Financial Debt: NCLT Chennai [Read Order]](/secure/uploads/2026/09/lj_2121_ChatGPT_Image_Sep_11,_2026,_01_49_44_AM.webp)
![Homebuyers Cannot Be Penalised For Developer’s Default: Supreme Court Waives NOIDA’s Time Extension Charges [Read Judgment]](/secure/uploads/2026/09/lj_2547_Homebuyers_Cannot_Be_Penalised.webp)
![Uncrystallized Damages From Breach of Contract Not Operational Debt Under IBC : SC [Read Judgment]](/secure/uploads/2026/08/lj_5297_ChatGPT_Image_Aug_13,_2026,_02_08_42_AM.webp)
![Merely stating person's departure will 'affect country's economic interests' insufficient for LOC: Delhi HC [Read Judgment]](/secure/uploads/2023/12/lj_6791_WhatsApp_Image_2023-12-29_at_4.12.22_PM.jpeg)
