Supreme Court Intervenes on Chronic NCLT Backlog in Resolution Plan Approvals, Flags Systemic Crisis
May 14, 2026 Communication Committee INSOL India
The Supreme Court took suo motu cognizance of systemic delays in the approval of resolution plans by the National Company Law Tribunals. A Bench of Justice J.B. Pardiwala and Justice K.V. Viswanathan described the situation as “grim and dismal”. This came..
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Supreme Court Rules IRP’s Admission of Claim Is Not an Acknowledgment Under the Limitation Act
May 14, 2026 COMMUNICATION COMMITTEE - INSOL India
The Supreme Court in Shankar Khandelwal v. Omkara Asset Reconstruction Pvt. Ltd. and Anr. [Civil Appeal No (s). 13158-13159 of 2025] addressed the central question of whether an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016..
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NCLAT Clarifies Limits of Section 238 IBC: Override Applies Only in Case of Direct Inconsistency
April 24, 2026 Communication Committee
The NCLAT in Sri Vibu Venkatsubramanian v. State Bank of India & Anr. Ujaas Energy Ltd. v. West Bengal Power Development Corporation Ltd., has clarified the scope and application of Section 238 of the Insolvency and Bankruptcy Code (IBC), reaffirming..
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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..
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Supreme Court Reinforces Finality of SLP Orders; Upholds CoC’s Commercial Wisdom Under IBC
April 24, 2026 INSOL India Communications Committee
The Supreme Court in M/s Lamba Exports Pvt. Ltd. v. M/s Dhir Global Industries Pvt. Ltd. has reaffirmed the finality of judicial orders and the primacy of the commercial wisdom of the Committee of Creditors (CoC) under the IBC. The case..
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Supreme Court Bars Set-Off of Security Deposits During IBC Moratorium
April 24, 2026 Communications Committee
The Supreme Court in Central Transmission Utility of India Ltd. v. Sumit Binani and Ors. [(2026) ibclaw.in 142 SC], has clarified that security deposits cannot be appropriated or set-off against pre-CIRP dues once the moratorium under Section 14 kicks in,..