Rulings
NCLT: Sale of property by suspended director to defeat creditors’ rights, “avoidable transaction”
NFRA: Debars, imposes Rs. 5 lakh penalty on CA for substantial audit deficiencies
HC: Issues guidelines for swift adjudication of secured creditors’ SARFAESI Sec. 14 applications by Magistrates
SC: Tribunals cannot “casually” interfere with CoC-approved resolution-plan; Quashes orders keeping plan in abeyance
HC: Sets aside Single-Judge’s direction to furnish bank guarantee absent frustration of Arbitral-Award enforcement
NCLT: Simple sale agreement not having commercial effect of borrowing, doesn’t qualify as ‘financial-debt’
SC: Copy of SC judgment upholding constitutionality of Sec. 95-100 of IBC
SC: Arbitration Act Sec. 34 governs MSME-Council’s award; Affirms HC order rejecting writ
NCLT: Directs ROC to restore Co.’s name on tax authority’s plea
IBBI: Cancels IP’s registration for refusal to cooperate in investigation, failure to make timely-disclosures
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