Rulings
NFRA: Slaps penalty of Rs. 1.2 crores & debars auditors for failure to report fraudulent transactions, diversion of funds
SC: Directors cannot escape penal-liability in cheque-dishonour case citing company’s dissolution under IBC
NCLAT: Can’t allow CoC to change liquidation value derived by Registered Valuers
NCLT: Quashes RP’s “illegal” action rejecting Creditor’s claim previously admitted by ex-IRP
SC: Upholds HC order dismissing application for setting aside arbitral-award, given expiry of “prescribed period”
HC: Insolvency Professional a “public servant”, upholds criminal proceedings instituted for bribery
NCLAT: Unsuccessful Resolution Applicant has no locus to assail approved resolution plan
NCLT: Tribunal, not creditor to determine type of debt
NCLAT: Partnership Act provision barring “suits” inapplicable to Operational Creditor’s CIRP application
NCLAT: Review petition against insolvency-plea not maintainable, absent 'review provision' in IBC
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