![Simultaneous CIRP Against Principal Borrower & Corporate Guarantor Permissible: Supreme Court Clarifies No Mandatory ‘Election’ of Claims [Read Order]](https://images.taxscan.in/h-upload/2026/03/03/2127657-simultaneous-cirp-against-principal-borrowerjpg.webp "Simultaneous CIRP Against Principal Borrower & Corporate Guarantor Permissible: Supreme Court Clarifies No Mandatory ‘Election’ of Claims [Read Order]")
Simultaneous CIRP Against Principal Borrower & Corporate Guarantor Permissible: Supreme Court Clarifies No Mandatory ‘Election’ of Claims [Read Order]
In a major ruling, the Supreme Court held that simultaneous CIRP proceedings under the Insolvency and Bankruptcy Code (IBC) can be started against...
![Pending Challenge to CoC Constitution Not a Bar on RP Appointment u/s 27: NCLAT [Read Order]](https://images.taxscan.in/h-upload/2026/02/06/2123993-pending-challenge-to-coc-constitution-nclat-taxscan.webp "Pending Challenge to CoC Constitution Not a Bar on RP Appointment u/s 27: NCLAT [Read Order]")
![Directors cannot Directly Targeted for Company’s GST Dues During Liquidation: Madras HC Grants Liberty to ‘Extricate’ Liability [Read Order]](https://images.taxscan.in/h-upload/2026/01/24/2121686-madras-high-court-gst-ruling-taxscan.webp "Directors cannot Directly Targeted for Company’s GST Dues During Liquidation: Madras HC Grants Liberty to ‘Extricate’ Liability [Read Order]")
![Finality of Implemented Resolution Plan Prevails Over Creditor’s Claim: NCLAT [Read Order]](https://images.taxscan.in/h-upload/2026/01/21/2121154-finality-of-implemented-resolution-plan-prevails-over-creditors-claim-nclat-taxscan.webp "Finality of Implemented Resolution Plan Prevails Over Creditor’s Claim: NCLAT [Read Order]")
![Contempt Jurisdiction Vests with NCLT u/s 425 of Companies Act, Not High Court: Bombay HC Dismisses Petition Against Satara Sahakari Bank [Read Order]](https://images.taxscan.in/h-upload/2026/01/14/2119464-contempt-jurisdiction-vests-with-nclt-us-425-of-companies-act-not-high-court-bombay-hc-dismisses-petition-against-satara-sahakari-bank-taxscan.webp "Contempt Jurisdiction Vests with NCLT u/s 425 of Companies Act, Not High Court: Bombay HC Dismisses Petition Against Satara Sahakari Bank [Read Order]")
IBBI Mandates Disclosure of Beneficial Ownership in Resolution Plan through Seventh Amendment to CIRP Regulations [Read Notification]
An important compliance requirement for resolution applicants by a recent notification has been introduced by the Insolvency and Bankruptcy Board of Indiain the Seventh Amendment to the Insolvency...
![IBBI Mandates Disclosure of Beneficial Ownership in Resolution Plan through Seventh Amendment to CIRP Regulations [Read Notification]](https://images.taxscan.in/h-upload/2025/12/26/2114928-ibbi-mandates-disclosure-beneficial-ownership-resolution-plan-through-seventh-amendment-cirp-regulations-taxscan.webp "IBBI Mandates Disclosure of Beneficial Ownership in Resolution Plan through Seventh Amendment to CIRP Regulations [Read Notification]")
Financial Debt Default of over Rs. 45 Crores: NCLT Admits SBI's Application and Initiates CIRP Against Giga Pipe Systems [Read Order]
The National Company Law Tribunal (NCLT), New Delhi, has admitted an application filed by the State Bank of India (SBI) under Section 7 of the (IBC), thereby initiating the Corporate...
![Financial Debt Default of over Rs. 45 Crores: NCLT Admits SBIs Application and Initiates CIRP Against Giga Pipe Systems [Read Order]](https://images.taxscan.in/h-upload/2025/11/05/2102556-financial-debt-nclt-sbi-cirp-giga-pipe-systems.webp "Financial Debt Default of over Rs. 45 Crores: NCLT Admits SBIs Application and Initiates CIRP Against Giga Pipe Systems [Read Order]")
Lease Termination During Moratorium Invalid u/s 14: NCLAT Quashes GIDC’s Action, Sets Aside NCLT Order Remitting Resolution Plan [Read Order]
The National Company Law Appellate Tribunal (NCLAT), Principal Bench, Delhi, has ruled that Gujarat Industrial Development Corporation’s (GIDC) lease termination against GPT Steel Industries Ltd....
![Lease Termination During Moratorium Invalid u/s 14: NCLAT Quashes GIDC’s Action, Sets Aside NCLT Order Remitting Resolution Plan [Read Order]](https://images.taxscan.in/h-upload/2025/10/28/2100484-lease-termination-moratorium-nclat-nclt-taxscan.webp "Lease Termination During Moratorium Invalid u/s 14: NCLAT Quashes GIDC’s Action, Sets Aside NCLT Order Remitting Resolution Plan [Read Order]")
Consumer Proceedings Not Maintainable after IBC Moratorium Imposition: Bombay HC quashes Consumer Forum Order against SREI Equipment [Read Order]
The Bombay High Court has quashed an order passed by the District Consumer Dispute Redressal Commission, Akola, and subsequent recovery proceedings against Srei Equipment Finance Limited, holding...
![Consumer Proceedings Not Maintainable after IBC Moratorium Imposition: Bombay HC quashes Consumer Forum Order against SREI Equipment [Read Order]](https://images.taxscan.in/h-upload/2025/10/27/2100110-ibc-bombay-hc-srei-equipment-taxscan.webp "Consumer Proceedings Not Maintainable after IBC Moratorium Imposition: Bombay HC quashes Consumer Forum Order against SREI Equipment [Read Order]")
Reason for Default Irrelevant: NCLT Admits Section 7 Petition Rejecting COVID-19 & Technical Defences [Read Order]
The Mumbai bench of the National Company Law Tribunal (NCLT) admitted a section 7 petition rejecting COVID-19 and technical defences and observed that default of payment is enough, then the reason...
![Reason for Default Irrelevant: NCLT Admits Section 7 Petition Rejecting COVID-19 & Technical Defences [Read Order]](https://images.taxscan.in/h-upload/2025/10/23/2099290-nclt-covid-19-technical-defences-taxscan.webp "Reason for Default Irrelevant: NCLT Admits Section 7 Petition Rejecting COVID-19 & Technical Defences [Read Order]")
Section 7 IBC Petition for Rs. 6.49 Cr Admitted: NCLT Rejects Section 10A Bar as Default Occurred Pre-COVID and Imposes Moratorium [Read Order]
The Mumbai bench of the National Company Law Tribunal (NCLT) admitted the Section 7 Insolvency and Bankruptcy Code,2016 (“I&B Code”) petition filed by the petitioner for Rs 6.49 crore, holding...
![Section 7 IBC Petition for Rs. 6.49 Cr Admitted: NCLT Rejects Section 10A Bar as Default Occurred Pre-COVID and Imposes Moratorium [Read Order]](https://images.taxscan.in/h-upload/2025/10/21/2098825-section-7-ibc-petition-nclt-pre-covid-taxscan.webp "Section 7 IBC Petition for Rs. 6.49 Cr Admitted: NCLT Rejects Section 10A Bar as Default Occurred Pre-COVID and Imposes Moratorium [Read Order]")