Insolvency and Bankruptcy Code (Second Amendment) Act, 2018

The Supreme Court considered an appeal by B.K. Educational Services Pvt. Ltd. challenging the applicability of the Limitation Act, 1963 to applications under Sections 7 and 9 of the Insolvency and Bankruptcy Code (IBC) and the retrospective effect of the newly inserted Section 238A. The Court examined the Insolvency La…

The Supreme Court considered a batch of writ petitions challenging the constitutional validity of the Insolvency and Bankruptcy Code (Second Amendment) Act, 2018, which classifies home‑buyers/allottees of real‑estate projects as "financial creditors" under the Code, thereby permitting them to invoke Section 7 and to be…

The Supreme Court considered appeals by K. Sashidhar challenging the rejection of resolution plans for two corporate debtors, KS&PIPL and IIL, by the Committee of Creditors (CoC). The CoC had approved the plans with less than the statutory 75% voting share of financial creditors, leading the NCLT to deem the plans reje…

The appellant, a promoter of M/s Siva Industries, sought withdrawal of a Corporate Insolvency Resolution Process (CIRP) that had been initiated against the corporate debtor after the Committee of Creditors (CoC) approved a settlement plan with 94.23% voting share. The Resolution Professional filed an application under …