The Supreme Court of India (“Supreme Court”), in Mansi Brar Fernandes vs. Shubha Sharma and Anr. inter alia held that ‘speculative investors’ cannot be permitted to initiate Corporate Insolvency Resolution Process (“CIRP”) under the Insolvency and Bankruptcy Code, 2016 (“IBC”) and has laid down certain key principles and criteria for determining who a ‘speculative investor’ would be.

Brief facts

A single bench of the High Court of Bombay (“Bombay HC”) in Sunflag Iron & Steel Co. Ltd. v. M/s Poonamchand & Sons has held that appointment of an arbitrator under Section 11(6) of the Arbitration and Conciliation Act, 1996 (“ArbitrationAct”) cannot be prevented on account of initiation of proceedings under Section 7 of the Insolvency and Bankruptcy Code, 2016 (“IBC”).

Brief Facts

A two-judge bench of the Supreme Court of India (“Supreme Court”) in its recent judgment Abhishek Singh v. Huhtamaki PPL Ltd.

The Principal Bench of National Company Law Appellate Tribunal (“NCLAT”) in its recent order, Rakesh Kumar Jain v. Jagdish Singh Nain & Ors., has inter alia held that Section 14(1)(a) of the Insolvency and Bankruptcy Code, 2016 (“IBC”) does not bar passing of any orders under Section 66 of the IBC against the resolution professional during operation of the moratorium imposed under Section 14 of the IBC.