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 NCLT on August 26 approved Essel Group founder Subhash Chandra's repayment plan of Rs 6.5 crore against admitted claims of Rs 22,006.57 crore, a 99.97% creditor haircut. NCLT Member Nilesh Sharma ruled as tiebreaker after a split bench. Congress's Jairam Ramesh called it a "mundan" and a complete mockery of the IBC.
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.
NCLAT dismisses Taguda Pte Ltd's appeal against liquidation of Ushdev International, holds resolution plan implementation delay of over three years unjustified, imposes Rs 5 lakh cost.
NCLT admits SBI’s ₹853 crore insolvency plea against Anil Ambani, holding his personal guarantee remains enforceable despite RCOM’s resolution plan.
Supreme Court allows lifting of corporate veil in Earth Infrastructure CIRP, restores stalled project resolution plans, and denies GNIDA penal charges.
NCLAT dismisses Vedanta’s plea against Adani’s ₹57,000 crore JAL resolution plan, upholds CoC decision, and rejects post-bid addendum challenge.
Supreme Court refuses to stay Adani’s JAL resolution plan, asks NCLAT to hear Vedanta’s appeal on priority in the high-stakes insolvency dispute.
Jaypee takeover row reaches Supreme Court as Vedanta challenges Adani’s JAL resolution plan, citing higher bid and value maximisation issues.
Supreme Court rules High Courts cannot nullify arbitration proceedings while appointing substitute arbitrators under Section 15(2) of the Arbitration Act.
Supreme Court upholds joint insolvency proceedings against interlinked real estate companies, allowing a single IBC petition for linked projects.
Supreme Court invokes Article 142 to revive Noida’s stalled Supernova project, replaces IRP and CoC, and appoints a court-monitored committee.
Supreme Court holds that a defective affidavit in a Section 7 IBC application is a curable irregularity, not grounds for rejection, and stresses mandatory notice requirements.
SC: Unfair to deny flat buyer’s claim once listed as financial creditor under IBC; directs handover of apartment within two months.
SC recalls its May 2 verdict cancelling JSW Steel’s ₹19,300 Cr resolution plan for Bhushan Power; matter to be heard afresh on August 7.
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![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)
![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)
![NCLAT Upholds Liquidation, Holds Section 31(4) Approval Timeline Is Mandatory, Not Directory [Read Judgment]](/secure/uploads/2026/07/lj_4973_ChatGPT_Image_Jul_8,_2026,_05_37_43_PM.webp)
![Anil Ambani Faces Personal Insolvency: NCLT Mumbai Holds Personal Guarantee Not Discharged By RCOM Resolution Plan, Admits SBI’s Rs 853 Crore Petition [Read Order]](/secure/uploads/2026/06/lj_2219_Anil_Ambani_Faces_Personal.webp)
![SC Allows Lifting of Corporate Veil in Holding Company CIRP to Include Subsidiary Assets; Restores Earth Infrastructure Resolution Plans [Read Judgment]](/secure/uploads/2026/05/lj_5700_SC_Allows_Lifting_of_Corporate.webp)
![High Courts Cannot Nullify Arbitration Proceedings While Substituting Arbitrators: SC [Read Order]](/secure/uploads/2026/02/lj_8150_High_Courts_Cannot.webp)
![SC Upholds Joint Insolvency Proceedings Against Interlinked Real Estate Companies [Read Judgment]](/secure/uploads/2026/02/lj_8878_SC_Upholds_Joint_Insolvency.webp)
![SC Invokes Article 142 to Revive Noida’s Stalled Supernova Project, Replaces IRP and CoC with Court-Appointed Committee [Read Order]](/secure/uploads/2025/12/lj_4376_SC_Invokes_Article_142.webp)
![SC Holds Defective Affidavit In IBC Is Curable, Not Fatal To Petition [Read Judgment]](/secure/uploads/2025/11/lj_6950_SC_Holds_Defective_Affidavit.webp)
![Unfair to deny flat buyer's claim after publication of financial creditors list under IBC: SC [Read Judgment]](/secure/uploads/2025/09/lj_3636_Unfair_to_deny_flat_buyers_claim.jpeg)
