Supreme Court judgments on Insolvency and Bankruptcy Code, 2016

126 judgments, latest first, from 2018 to 2026. Listed when the Supreme Court Reports file the judgment's headnote under this Act, as printed at the start of the headnote. Judgments that only mention it in passing are not listed.

Sections

Section 5 9 Section 7 32 Section 8 8 Section 9 16 Section 14 13 Section 30 7 Section 31 9 Section 60 7 Section 61 6 Section 62 12 Section 238 6 Section 238A 8

M/s. R.K. Industries (Unit-Ii) LLP vs M/s. H.R. Commercials Private Limited and Other

SC · 26 August 2022

[2022] 12 S.C.R. 667 : 2022 INSC 872

Insolvency and Bankruptcy Code, 2016 – ss.7, 33, 34, 35, 61 – Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 – r.4 – Insolvency and Bankruptcy Board of India (Liquidation Process) Regulatio…

Kotak Mahindra Bank Limited vs Kew Precision Parts Private Limited & Ors.

SC · 5 August 2022

[2022] 19 S.C.R. 212 : 2022 INSC 800

Insolvency and Bankruptcy Code, 2016 – ss. 7, 8, 9, 14, 238A – The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 – s. 13 (2) – Limitation Act 1963 – Schedule – Art.13…

Asset Reconstruction Company (India) Limited vs Tulip Star Hotels Limited & Ors.

SC · 1 August 2022

[2022] 5 S.C.R. 1112 : 2022 INSC 777

Insolvency and Bankruptcy Code, 2016 – ss. 7(2), 62 & 238A – Limitation Act, 1963 – s. 18 – Corporate Insolvency Resolution Process (CIRP) – Extension of period of limitation – Acknowledgement in books of account – A loa…

M/s S.S. Engineers vs Hindustan Petroleum Corporation Ltd. & Ors.

SC · 15 July 2022

[2022] 18 S.C.R. 391 : 2022 INSC 1309

Insolvency and Bankruptcy Code, 2016 – ss.7-9 – Held: NCLT, exercising powers u/s.7 or s.9, is not a debt collection forum – IBC tackles and/or deals with insolvency and bankruptcy – It is not the object of the IBC that…

Vidarbha Industries Power Limited vs Axis Bank Limited

SC · 12 July 2022

[2022] 12 S.C.R. 139 : 2022 INSC 710

Insolvency and Bankruptcy Code 2016 – s.7(5)(a) – Interpretation of – Legislature has in its wisdom used the word ‘may’ in s.7(5)(a) of the Code in respect of an application for CIRP initiated by a financial creditor aga…

Vallal Rck vs M/s Siva Industries and Holdings Limited and Others

SC · 3 June 2022

[2022] 7 S.C.R. 577 : 2022 INSC 636

Insolvency and Bankruptcy Code, 2016: s. 12A – Withdrawal of application admitted u/s. 7 – On facts, application u/s. 12A r/w Regulation 30A for withdrawal of application filed u/s. 7, in view of settlement plan submitte…

Kotak Mahindra Bank Limited vs A. Balakrishnan & Anr.

SC · 30 May 2022

[2022] 5 S.C.R. 1072 : 2022 INSC 630

Insolvency and Bankruptcy Code, 2016 : ss. 3, 5, 6, 7 and 14 – Corporate Insolvency Resolution Process (CIRP) – Initiation of – Issuance of Recovery Certificate, if would trigger the right to sue – On facts, respondent N…

New Okhla Industrial Development Authority vs Anand Sonbhadra

SC · 17 May 2022

[2022] 5 S.C.R. 319 : 2022 INSC 578

Insolvency and Bankruptcy Code, 2016: ss. 21, 27, 28, 30 – Proceedings involving Corporate Debtor – Committee of Creditors – Importance and Procedure – In the idea of resurrecting an ailing corporate debtor, the Code con…

Sunil Kumar Jain and Others vs Sundaresh Bhatt and Others

SC · 19 April 2022

[2022] 17 S.C.R. 318 : 2022 INSC 438

Insolvency and Bankruptcy Code, 2016 – ss.5(13), 36(4), 53(1)(b) & (c) – Claim of the appellants-workmen/employees of Corporate Debtor, working at Dahej Yard and Mumbai, relating to wages/salary for the period involving…

State Bank of India vs Krishidhan Seeds Private Limited

SC · 18 April 2022

[2022] 2 S.C.R. 1155 : 2022 INSC 428

Insolvency and Bankruptcy Code 2016 – s.7 – Limitation Act, 1963 – s.18 – Applicability of – Default, acknowledgment in balance sheet of company – Proceedings under IBC – Limitation – Appellant filed application for init…

Amit Katyal vs Meera Ahuja and Others

SC · 3 March 2022

[2022] 4 S.C.R. 389 : 2022 INSC 260

Insolvency and Bankruptcy Code, 2016: s.7 – Respondent no. 4-corporate debtor came out with a housing project – However, could not complete the project even after a period of eight years – Respondent nos.1 to 3 (original…

Ajay Gupta vs Pramod Kumar Sharma

SC · 25 February 2022

[2022] 2 S.C.R. 196 : 2022 INSC 236

Insolvency and Bankruptcy Code, 2016: s. 62 – Appellant was one of the resolution applicants in the corporate insolvency resolution process concerning the corporate debtor – Deliberation took place between the appellant,…

M/s Wizaman Impex Pvt. Ltd. vs Kedrion Biopharma Inc.

SC · 7 February 2022

[2022] 2 S.C.R. 120 : 2022 INSC 159

Insolvency and Bankruptcy Code, 2016 – s.9 – Corporate Insolvency Resolution – Respondent filed s.9 application against appellant-corporate debtor – National Company Law Tribunal (‘NCLT’) considered the documents referre…

M/s Consolidated Construction Consortium Limited vs M/s Hitro Energy Solutions Private Limited

SC · 4 February 2022

[2022] 2 S.C.R. 212 : 2022 INSC 150

Insolvency and Bankruptcy Code, 2016: ss.5(20), 5(21), 8(1) – Operational creditor – Meaning of – Appellant was engaged by CMRL for a project – For the said project, appellant entered into a contract for supply of light…

Bank of Baroda & Anr. vs Mbl Infrastructures Limited & Ors.

SC · 18 January 2022

[2022] 12 S.C.R. 761 : 2022 INSC 53

Insolvency and Bankruptcy Code, 2016 – s.29A(h) (as amended by the Act 26 of 2018) – Interpretation and scope of – Held: s.29A(h) creates one more category of persons not being eligible to be a resolution applicant – Oth…

Devarajan Raman vs Bank of India Limited

SC · 5 January 2022

[2022] 1 S.C.R. 975 : 2022 INSC 14

Insolvency and Bankruptcy Code, 2016 – Costs and expenses incurred by Resolution Professional (RP) – In pursuance to an email of the respondent, the appellant submitted his bid for appointment as an Interim Resolution Pr…

Ngaitlang Dhar vs Panna Pragati Infrastructure Private Limited & Ors.

SC · 17 December 2021

[2021] 9 S.C.R. 1009 : 2021 INSC 923

Insolvency and Bankruptcy Code, 2016 – ‘Material irregularity’ – When not – Corporate Insolvency Resolution Process (CIRP) initiated in respect of Corporate Debtor – Resolution Plans were received from four prospective R…

E S Krishnamurthy & Ors. vs M/s Bharath Hi Tech Builders Pvt. Ltd.

SC · 14 December 2021

[2021] 12 S.C.R. 28 : 2021 INSC 884

Insolvency and Bankruptcy Code, 2016: s. 7 – Initiation of Corporate Insolvency Resolution Process by financial creditor – On facts, respondent defaulted in making re-payment of an amount of Rs 33 crores to the appellant…

V Nagarajan vs Sks Ispat and Power Ltd.& Ors.

SC · 22 October 2021

[2021] 14 S.C.R. 736 : 2021 INSC 663

Insolvency and Bankruptcy Code, 2016 – ss.61(1), 238, 238A – Limitation Act, 1963 – ss.12(2), 29(2) – Companies Act 2013 – s.420(3) – National Company Law Tribunal Rules, 2016 – r.50 – National Company Law Appellate Trib…

M/s. Jai Balaji Industries vs D.K. Mohanty & Anr.

SC · 1 October 2021

[2021] 11 S.C.R. 350 : 2021 INSC 590

Insolvency and Bankruptcy Code, 2016 – ss. 8, 9, 62 – Arbitration and Conciliation Act, 1996 – The appellant and respondent no.2 entered into Memorandums of Understanding, whereby the respondent no.2 agreed to supply, 1…

Rajendra Narottamdas Sheth & Anr. vs Chandra Prakash Jain & Anr.

SC · 30 September 2021

[2021] 7 S.C.R. 838 : 2021 INSC 579

Insolvency and Bankruptcy Code, 2016 – s. 7 – Maintainability of – Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 – Limitation Act – s.18 – Loans were granted by the Financial Creditor-resp…

National Spot Exchange Limited vs Mr. Anil Kohli, Resolution Professional for Dunar Foods Limited

SC · 14 September 2021

[2021] 7 S.C.R. 1024 : 2021 INSC 476

Insolvency and Bankruptcy Code, 2016 – s.61(2) – Appeals and Appellate Authority – In response to the public announcement by Interim Resolution Professional (IRP) inviting the claims from the creditors of the corporate d…

Ebix Singapore Private Limited vs Committee of Creditors of Educomp Solutions Limited & Anr.

SC · 13 September 2021

[2021] 14 S.C.R. 321 : 2021 INSC 468

Insolvency and Bankruptcy Code, 2016 – ss.5(26), 7, 9, 10, 12, 23, 25, 30, 31, 60(5), 61 & 74(3) – National Company Law Tribunal Rules, 2016 – r.11 – Insolvency and Bankruptcy Board of India (Insolvency Resolution Proces…

Anjali Rathi and Others vs Today Homes & Infrastructure Pvt. Ltd. and Others

SC · 8 September 2021

[2021] 9 S.C.R. 152 : 2021 INSC 460

Insolvency and Bankruptcy Code, 2016: s.14 – Petitioners are home buyers in a group housing project – Possession of apartments were not handed as per the agreement – Petitioners filed consumer complaint before National C…

Kay Bouvet Engineering Ltd. vs Overseas Infrastructure Alliance (India) Private Limited

SC · 10 August 2021

[2021] 8 S.C.R. 109 : 2021 INSC 394

Insolvency and Bankruptcy Code, 2016: ss. 8 and 9 – Corporate Insolvency Resolution Process – Application for initiation of CIRP by operational creditor – Maintainability of – Held: When a dispute truly exists in fact an…

Dena Bank (Now Bank of Baroda) vs C. Shivakumar Reddy and Anr.

SC · 4 August 2021

[2021] 8 S.C.R. 1061 : 2021 INSC 380

Insolvency and Bankruptcy Code, 2016: s. 7 – Initiation of corporate insolvency resolution process by financial creditor – Petition u/s. 7, if barred by limitation – On facts, appellant Bank sanctioned term loan and lett…

M/s Orator Marketing Pvt. Ltd. vs M/s Samtex Desinz Pvt. Ltd.

SC · 26 July 2021

[2021] 6 S.C.R. 742 : 2021 INSC 359

Insolvency and Bankruptcy Code, 2016: ss. 5(8), 7, 62 – Financial debt – Construction of – Person giving a term loan to a Corporate Person, free of interest, on account of its working capital requirements– Non-payment of…

Lalit Kumar Jain vs Union of India & Ors.

SC · 21 May 2021

[2021] 3 S.C.R. 1075 : 2021 INSC 297

Insolvency and Bankruptcy Code, 2016 – ss.1(3), 2(e), 5(22), 60, 179, 234, 235, 238 and 243 – Vires and validity of notification dated 15.11.2019 issued by the Central Government – Whether the impugned notification was a…

India Resurgence Arc Private Limited vs M/s. Amit Metaliks Limited & Anr.

SC · 13 May 2021

[2021] 6 S.C.R. 611 : 2021 INSC 296

Insolvency and Bankruptcy Code, 2016: s. 30(4) – Resolution plan – Approval of, in the corporate insolvency resolution process – Resolution plan submitted by resolution applicant taken up for consideration by the CoC – A…

Asset Reconstruction Company (India) Limited vs Bishal Jaiswal & Anr.

SC · 15 April 2021

[2021] 3 S.C.R. 524 : 2021 INSC 254

Insolvency and Bankruptcy Code, 2016 – s.7 – Some original lenders of the corporate debtor, assigned the debts owed to them by the corporate debtor to the appellant – Appellant took actual physical possession of project…

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