Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016

The Union Bank of India (financial creditor) granted loans to R.K. Infratel Ltd. (corporate debtor), which defaulted on 30‑09‑2014, leading to the account being classified as an NPA. The bank filed a recovery suit under the 1993 Recovery of Debts Act and, later, an application under Section 7 of the Insolvency and Bank…

The appellant trade union filed a petition under Section 8 of the Insolvency and Bankruptcy Code, 2016 on behalf of about 3,000 workers seeking payment of outstanding dues from the respondent jute mill, which had been closed. The NCLT and subsequently the NCLAT dismissed the petition, holding that a trade union is not …

Visa Coke Ltd., an operational creditor, claimed that it had validly served a statutory demand notice under Section 8 of the Insolvency and Bankruptcy Code, 2016, by sending Form 3 to the Key Managerial Personnel (KMP) of Mesco Kalinga Steel Ltd. at its registered office. The National Company Law Tribunal (NCLT) and th…

The corporate debtor, ABG Shipyard Ltd., was placed under liquidation after a failed resolution process. The liquidator conducted five e-auctions without success and then adopted a Swiss Challenge Process, naming R.K. Industries as the anchor bidder. Before the process could conclude, the liquidator, with the approval …

M/s Orator Marketing Pvt. Ltd., the assignee of a Rs 1.60 crore interest‑free term loan given to M/s Samtex Desinz Pvt. Ltd. for working‑capital, filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate a corporate insolvency resolution process (CIRP). The National Company Law Trib…

The Supreme Court examined the constitutional validity of several provisions of the Insolvency and Bankruptcy Code, 2016, including the classification of financial versus operational creditors, the powers of the resolution professional, the evidentiary status of private information utilities, and the requirements of Se…

The Transmission Corporation of Andhra Pradesh Ltd. (appellant) awarded contracts to Equipment Conductors and Cables Ltd. (respondent) which led to arbitration where claims on invoices 1‑57 were held time‑barred and no award was made. The respondent unsuccessfully sought execution of those amounts, then issued a Sectio…

Mobilox Innovations Pvt Ltd, an operational creditor, filed an application under the Insolvency and Bankruptcy Code, 2016 (IBC) seeking initiation of corporate insolvency against Kirusa Software Pvt Ltd for an unpaid operational debt of Rs.20,08,202.55. The corporate debtor raised a dispute, alleging breach of a non‑di…

The operational creditor, Mis. Surendra Trading Co., filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against the corporate debtor, Mis. Juggilal Kamlapat Jute Mills Co. Ltd. The adjudicating authority identified procedural defects and gave the creditor seven days to cure them. The cred…

The Supreme Court examined two pivotal questions arising under the Insolvency and Bankruptcy Code, 2016: (i) whether the requirement in Section 9(3)(c) to attach a certificate from the financial institution confirming non‑payment of an operational debt is a mandatory condition precedent, and (ii) whether a demand notic…

The corporate debtor Gujarat NRE Coke Ltd (GNCL) initiated a corporate insolvency resolution process, but its promoter Arun Kumar Jagatramka was deemed ineligible to submit a resolution plan under Section 29A of the Insolvency and Bankruptcy Code (IBC). After the liquidation order, Jagatramka filed an application under…

Canara Bank (successor to Syndicate Bank) filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against its corporate debtor, Kranthi Edifice Pvt. Ltd., alleging default on a secured overdraft facility and bank guarantees. The National Company Law Tribunal (NCLT) admitted the petition a…

Ramesh Kymal, an operational creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC) on 11 May 2020 alleging a default by Siemens Gamesa Renewable Power Ltd on 30 April 2020. While the petition was pending, Section 10A was inserted into the IBC by the 2020 amendment (effective 5 June 2020…

The appellant Bank (Dena Bank, now Bank of Baroda) filed a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC) in 2018 to initiate a corporate insolvency resolution process against the corporate debtor, C. Shivakumar Reddy, after the debtor defaulted in 2013. The National Company Law Tribunal (NCLT) ad…

Sabarmati Gas Ltd. entered into a gas‑sale agreement with Shah Alloys Ltd., which later defaulted on payments. The respondent was declared a 'sick company' by the BIFR, invoking a moratorium under SICA that barred legal recovery until the Code came into force on 1‑Dec‑2016. After issuing a demand notice under Section 8…