corporate insolvency

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CCI Nod Mandatory Before Committee Of Creditors’ Approval Under The Code, Says Supreme Court

The Hon’ble Supreme Court of India (“Court”) recent judgment in Independent Sugar Corporation Ltd. v. Girish Sriram Juneja, 2025 SCC Online Sc 181 is a landmark decision. It highlights the interplay between the Insolvency and Bankruptcy Code, 2016 (“Code”), and the Competition Act, 2002 (“Competition Act”), in the context of resolution plans involving combinations that may have an appreciable adverse effect on competition (“AAEC”) in the relevant market.Continue Reading CCI Nod Mandatory Before Committee Of Creditors’ Approval Under The Code, Says Supreme Court

Real Estate Insolvency: Waivers contemplated under approved resolution plan override transfer / change in shareholding charges demanded by Industrial Development Authorities

In a recent judgment[1], the Hon’ble Supreme Court has upheld the approval of a resolution plan which provided that there should be an exemption from payment of (i) any type of fees/ penalties for renewal of sub-lease; and (ii) transfer charges due to change in directorship/ shareholding in favour of the resolution applicant…

Choosing the Correct Door: NCLAT Clarifies Jurisdiction for Insolvency of Personal Guarantors

The National Company Law Appellate Tribunal, New Delhi (“NCLAT”), has clarified and resolved the ambiguity surrounding the question of jurisdiction of the National Company Law Tribunal (“NCLT”) to entertain insolvency applications against personal guarantors where no corporate insolvency resolution process (“CIRP”) is pending against the corporate debtor. The issue was addressed through a recent judgment dated January 23, 2025, in Anita Goyal vs. Vistra ITCL (India) Ltd. & Anr.[1] (“Judgement”).Continue Reading Choosing the Correct Door: NCLAT Clarifies Jurisdiction for Insolvency of Personal Guarantors