Supreme Court Refines ‘Clean Slate’ Doctrine: Allows Defensive Set-Off of Extinguished Claims Under IBC
April 24, 2026 Communication Committee
The Supreme Court in Ujaas Energy Ltd. v. West Bengal Power Development Corporation Ltd. [(2026) ibclaw.in 127 SC], has refined the scope of the “clean slate” principle under the Insolvency and Bankruptcy Code (IBC), introducing a nuanced distinction between extinguished..
Read More
The IBBI (Use of Caveats, Limitations, and Disclaimers in Valuation Reports) Guidelines 2020
September 1, 2020 INSOL India - Editorial Team
On September 1, 2020, the IBBI notified the IBBI (Use of Caveats, Limitations, and Disclaimers in Valuation Reports) Guidelines 2020 (“Valuation Report Guidelines”). The Valuation Report Guidelines seek to provide guidance to registered valuers with respect to the use of..
Read More
The Insolvency and Bankruptcy Code (Second Amendment) Act, 2020
September 23, 2020 INSOL India - Editorial Team
On September 23, 2020, the IBC (Second Amendment) Act 2020 was notified, which in turn repealed the IBC (Amendment) Ordinance 2020. The amendment replicates the provisions of the ordinance, which had introduced section 10A to the IBC, providing for the..
Read More
Bill to amend Bankruptcy Code tabled in Rajya Sabha
September 22, 2020 EDITORIAL BOARD INSOL INDIA
The IBC amendment bill was presented in the Rajya Sabha. The Bill seeks to amend the Code keeping in vew the hardship created by the Covid-19 pandemic. As per the Bill, the suspension of the code is initially for a period of..
Read More
Applicability of Section 18 of the Limitation Act to proceedings under IBC: Need for reconsideration
September 22, 2020 INSOL INDIA EDITORIAL TEAM
In a significant judgment, the Hon’ble Supreme Court recently held that Section 18 of the Limitation Act, 1963, is inapplicable to an application filed under Section 7 of the Insolvency and Bankruptcy Code (IBC). The Court held that if a financial creditor does not..
Read More
NCLAT set aside the order passed against Mittal Corporation Ltd.
September 18, 2020 EDITORIAL TEAM INSOL INDIA
The Hon'ble NCLAT set aside the order passed by the Adjudicating Authority (NCLT Mumbai Bench) and restored the insolvency petition (Corporate Insolvency Resolution) against Mittal Corporation Ltd.