Rulings
SC: Powers exercisable by CMM/DM u/s 14 of SARFAESI Act doesn’t involve adjudicatory process
IBBI: Suspends IP’s license for appointing related-party without disclosure, not maintaining confidentiality
NCLT: Financial Creditors’ prior CIRP-initiation application pending against MSME prevails over PPIRP petition
SC: Existence of ‘legally enforceable debt’ at time of cheque-encashment must to attract Sec. 138
NCLAT: Operational Creditor’s insolvency application ‘not entertainable’ due to non-fulfillment of Rs. 1 cr. threshold
NCLAT: Operational Creditor’s claim against Contingency Fund cannot be entertained after resolution-plan implementation
NCLT: Rejects Axis Bank’s claim to be recognized as Financial Creditor for Reliance Capital
HC: Arbitrator cannot shun away his responsibilities, leave quantification work on another person
SC: Quashes NCLAT order rejecting insolvency initiation, given Creditor’s application within 3-years limitation
NCLAT: Affirms NCLT-order directing Successful Resolution Applicant to make payment as per approved plan
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