Rulings
NCLAT: Insolvency application against ‘Corporate Guarantor’ before ‘Principal Borrower’ maintainable
SC: Quashes appointment of independent arbitrator, in deviation of agreed terms between parties
NCLAT: CIRP initiation permissible only against one corporate guarantor for same debt
NCLT: Rejects Liquidator’s application seeking release of properties attached under PMLA
HC: Declines sine die adjournment; Cites adverse effect on IL&FS Group Co.’s finances
HC: Upholds refusal to transfer winding-up petition; Court’s jurisdiction not ousted until CIRP admission
HC: Refuses transfer of winding-up petition to NCLT, pending admission of CIRP petition
IBBI: Penalizes Resolution Professional for displaying ‘laid back’ attitude and abandoning CIRP
NCLT: Allows MCA’s plea for Statutory Auditor’s removal; Cites issuance of false certificate
NCLT: Allows MCA’s petition for re-opening IL&FS’s books of accounts
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