NCLAT Rejects Law Firm’s Belated Claim in CIRP: No Disbursement, No Financial Debt
May 14, 2026 COMMUNICATION COMMITTEE INSOL India
The NCLAT, Principal Bench, New Delhi in L & L Partners Litigation v. Jalesh Kumar Grover (RP) [Company Appeal (AT) (Insolvency) No. 1944 of 2025] dismissed an appeal challenging the rejection of a law firm’s claim in the CIRP of..
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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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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..