JSA represented a financial creditor in a significant judgment where the Supreme Court has upheld the constitutional validity of Sections 95 to 100 of the IBC (concerning insolvency resolution process of individuals/personal guarantors and partnership firms)

In the case of Dilip B Jiwrajka v Union of India & Ors, a 3 (three) judge bench of the Supreme Court of India (“SupremeCourt”) has upheld the constitutional validity of Sections 95 to 100 of the Insolvency and Bankruptcy Code, 2016 (“IBC”).

Background

Filed under:
India, Insolvency & Restructuring, Litigation, JSA, Insolvency and Bankruptcy Code (India), Supreme Court of India
Authors:
Sidharth Sethi , Pragya Chauhan , Avinash Das , Soumitra Majumdar , Fatema Kachwalla , Bhaskar Dhandharia
Location:
India
Firm:
JSA
Supreme Court holds that revised resolution plan cannot be approved by the Adjudicating Authority without being placed before the Committee of Creditors

The Supreme Court (“SC”) in the case of M. K. Rajagopalan v. Dr. Periasamy Palani Gounder & Anr., has held that, while commercial wisdom of the Committee of Creditors (“CoC”) must be respected, certain factors having a material bearing on the process of approval of the resolution plan should also be borne in mind.

Filed under:
India, Insolvency & Restructuring, Litigation, JSA, Coronavirus, Insolvency, National Company Law Tribunal
Authors:
Varghese Thomas , Dheeraj Nair , Aditi Deshpande , Vishrutyi Sahni , Sidharth Sethi , Avinash Das
Location:
India
Firm:
JSA
Application under Section 7 or 9 of the IBC is extendable only by an application under Section 5 of Limitation Act on grounds of sufficient cause

The Supreme Court of India (“Supreme Court”) in the case of Sabarmati Gas Limited vs. Shah Alloys Limited held that (a) in an application under Section 7 or 9 of the Insolvency and Bankruptcy Code, 2016 (“IBC”), the period of limitation would be 3 (three) years from the date when the right to apply accrues, i.e.

Filed under:
India, Insolvency & Restructuring, Litigation, JSA, Insolvency and Bankruptcy Code (India), Supreme Court of the United States, Supreme Court of India, National Company Law Tribunal
Authors:
Dhirendra Negi , Divyam Agarwal , Pallavi Kumar , Tanya Tiwari , Avinash Das
Location:
India
Firm:
JSA
Application under Section 7 or 9 of the IBC is extendable only by an application under Section 5 of Limitation Act on grounds of sufficient cause

The Supreme Court of India (“Supreme Court”) in the case of Sabarmati Gas Limited vs. Shah Alloys Limited1 held that (a) in an application under Section 7 or 9 of the Insolvency and Bankruptcy Code, 2016 (“IBC”), the period of limitation would be 3 (three) years from the date when the right to apply accrues, i.e.

Filed under:
India, Insolvency & Restructuring, Litigation, JSA, Insolvency and Bankruptcy Code (India), Supreme Court of India, National Company Law Tribunal
Authors:
Dhirendra Negi , Divyam Agarwal , Pallavi Kumar , Tanya Tiwari , Avinash Das
Location:
India
Firm:
JSA