IBC Laws

GSTAT Principal Bench [06-Jul-26]: Whether, for anti-profiteering in a real estate project under Section 171 of the CGST Act, 2017, additional ITC benefit is to be determined by comparing pre-GST and post-GST credit-to-purchase-value ratios and apportioned over the project area, and whether shortfall to some homebuyers can be set off against excess benefit passed to others? Central Goods and Services Tax Act, 2017 – Section 171(1), Section 171(3A); Central Goods and Services Tax Rules, 2017 – Rule 126, Rule 129, Rule 133(3)(b) – anti-profiteering in real estate project – issue was whether additional ITC benefit after GST was correctly determined by comparing pre-GST and post-GST credit-to-purchase-value ratios and whether benefit was fully passed on to homebuyers. Held that in view of Reckitt Benckiser India Pvt. Ltd.,... Citation: (2026) taxcode.in 64 GSTAT Read More: https://taxcode.in/director-general-of-anti-profiteering-dgap-vs-emaar-india-ltd-gstat-principal-bench/ Join: https://t.me/+JxbPxWlkvfZlNzA1 TaxcodeIN Decoding Indian Tax Laws Visit for DeepSummary, SearchAI+, EXTRA filters and more: www.taxcode.in

NCLAT-New Delhi Whether resignation of a director revokes his personal guarantee or renewal of working capital facilities amounts to novation or variance under Sections 62, 129, 130 and 133 of the Contract Act in proceedings under Section 95 of the IBC? Insolvency and Bankruptcy Code, 2016, Sections 95, 99; Indian Contract Act, 1872, Sections 62, 129, 130, 133 – challenge to admission of personal insolvency proceedings against personal guarantor on the grounds of resignation from directorship, alleged revocation of guarantee, and alleged novation/variance due to subsequent renewal of credit facilities. Held that the deed of guarantee dated 17.10.2017 made the guarantee.... Read More: https://ibclaw.in/nakul-gupta-vs-state-bank-of-india-and-anr-nclat-new-delhi/ Reported at: (2026) ibclaw.in 840 NCLAT Bench: Mr. Justice N. Seshasayee (Judicial Member) and Mr. Arun Baroka (Technical Member) Download Mobile App(iOS/Android): https://ibclaw.in/mobile-app/ Activate WhatsApp Updates : https://ibclaw.in/whatsapp-updates/ Follow for Daily Updates: Follow on LinkedIn: https://www.linkedin.com/company/ibclaw/ Not just legal news —IBC Laws delivers a full-stack legal research platform, Check More Features: https://ibclaw.in/subscription/

NCLAT-New Delhi Whether an approved resolution plan can be re-opened by a belated one-time payment proposal after repeated non-implementation? Insolvency and Bankruptcy Code, 2016, Sections 31(4), 33, 60(5) – Approved resolution plan – failure of successful resolution applicant to obtain regulatory approvals and implement plan for over three years – belated application offering one-time unconditional payment filed after arguments in liquidation application were concluded and orders reserved – earlier NCLAT order rejecting similar pleas affirmed by Supreme Court. Held.... Read More: https://ibclaw.in/taguda-pte-ltd-vs-state-bank-of-india-and-anr-nclat-new-delhi-2/ Reported at: (2026) ibclaw.in 839 NCLAT Bench: Mr. Justice N. Seshasayee (Judicial Member) and Mr. Arun Baroka (Technical Member) Download Mobile App(iOS/Android): https://ibclaw.in/mobile-app/ Activate WhatsApp Updates : https://ibclaw.in/whatsapp-updates/ Follow for Daily Updates: Follow on LinkedIn: https://www.linkedin.com/company/ibclaw/ Not just legal news —IBC Laws delivers a full-stack legal research platform, Check More Features: https://ibclaw.in/subscription/

DRT-Ernakulam Notice to a partner is notice to the partnership firm; SARFAESI proceedings are not invalid merely because the Section 13(2) notice was not separately served on the firm Read More: https://ibclaw.in/jiju-j-kandramattom-vs-authorized-officer-south-indian-bank-drt-ernakulam/ Reported at: (2026) ibclaw.in 484 DRT Download Mobile App(iOS/Android): https://ibclaw.in/mobile-app/ Activate WhatsApp Updates : https://ibclaw.in/whatsapp-updates/ Follow for Daily Updates: Follow on LinkedIn: https://www.linkedin.com/company/ibclaw/ Not just legal news —IBC Laws delivers a full-stack legal research platform, Check More Features: https://ibclaw.in/subscription/

DRT-Chennai Auction purchasers with a confirmed sale and registered sale certificate are necessary parties in a SARFAESI challenge to Section 14 possession measures Read More: https://ibclaw.in/s-ilayaperumal-and-anr-vs-a-surendiran-and-ors-drt-chennai/ Reported at: (2026) ibclaw.in 482 DRT Download Mobile App(iOS/Android): https://ibclaw.in/mobile-app/ Activate WhatsApp Updates : https://ibclaw.in/whatsapp-updates/ Follow for Daily Updates: Follow on LinkedIn: https://www.linkedin.com/company/ibclaw/ Not just legal news —IBC Laws delivers a full-stack legal research platform, Check More Features: https://ibclaw.in/subscription/

DRT-Bengaluru A subsequent SARFAESI sale is invalid if the bank cannot prove service of sale notice and fixes a grossly reduced reserve price without justification Read More: https://ibclaw.in/arunachaleswara-translogistics-india-pvt-ltd-and-anr-vs-authorized-officer-idfc-first-bank-ltd-and-ors-drt-bengaluru/ Reported at: (2026) ibclaw.in 472 DRT Download Mobile App(iOS/Android): https://ibclaw.in/mobile-app/ Activate WhatsApp Updates : https://ibclaw.in/whatsapp-updates/ Follow for Daily Updates: Follow on LinkedIn: https://www.linkedin.com/company/ibclaw/ Not just legal news —IBC Laws delivers a full-stack legal research platform, Check More Features: https://ibclaw.in/subscription/

DRT-Kolkata A review under Section 22(2)(e) of the RDB Act read with Rule 5A of the DRT Procedure Rules, 1993 is not maintainable where the alleged omitted issue was pleaded in the SA but not pressed during final arguments and no error apparent on the face of the record is shown Read More: https://ibclaw.in/praridevi-chabiraj-steels-pvt-ltd-and-ors-vs-authorised-officer-axis-bank-ltd-and-anr-drt-kolkata/ Reported at: (2026) ibclaw.in 475 DRT Download Mobile App(iOS/Android): https://ibclaw.in/mobile-app/ Activate WhatsApp Updates : https://ibclaw.in/whatsapp-updates/ Follow for Daily Updates: Follow on LinkedIn: https://www.linkedin.com/company/ibclaw/ Not just legal news —IBC Laws delivers a full-stack legal research platform, Check More Features: https://ibclaw.in/subscription/

NCLT-Indore Bench Suspended directors cannot avoid their duty under Section 19 of IBC by merely referring the RP to ROC/XBRL records, and must furnish complete signed financial statements, asset details, and creditor-debtor information required for CIRP Insolvency and Bankruptcy Code, 2016, Sections 19(1), 19(2) and 19(3); Companies Act, 2013, Sections 129 and 134 — Application by Resolution Professional seeking cooperation from suspended directors for supply of financial and statutory records necessary for CIRP — respondents relied on MCA/ROC filings, XBRL data, alleged non-operational status, and progress of CIRP. Held that Section 19 imposes a mandatory duty.... Read More: https://ibclaw.in/teena-saraswat-pandey-rp-of-extol-industries-ltd-vs-abhinav-bhatnagar-and-ors-nclt-indore-bench/ Reported at: (2026) ibclaw.in 1865 NCLT Download Mobile App(iOS/Android): https://ibclaw.in/mobile-app/ Activate WhatsApp Updates : https://ibclaw.in/whatsapp-updates/ Follow for Daily Updates: Follow on LinkedIn: https://www.linkedin.com/company/ibclaw/ Not just legal news —IBC Laws delivers a full-stack legal research platform, Check More Features: https://ibclaw.in/subscription/

DRT-Chandigarh Where the secured creditor failed to give the borrower clear 15 days’ notice of the auction under Rules 8 and 9 of the Security Interest (Enforcement) Rules, 2002, and issued a vague sale notice with reduced reserve price and inadequate property description, the auction sale is liable to be set aside Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Sections 13(2), 13(4), 14, 17 and 26-D; Security Interest (Enforcement) Rules, 2002, Rules 8(6), 8(7) and 9(1); Limitation Act, 1963, Sections 5 and 14. Challenge to SARFAESI auction sale and objection of limitation. Held that on the averments in the securitization application, the applicant had challenged not.... Read More: https://ibclaw.in/dream-land-builders-vs-jammu-and-kashmir-bank-ltd-and-anr-drt-chandigarh/ Reported at: (2026) ibclaw.in 464 DRT Download Mobile App(iOS/Android): https://ibclaw.in/mobile-app/ Activate WhatsApp Updates : https://ibclaw.in/whatsapp-updates/ Follow for Daily Updates: Follow on LinkedIn: https://www.linkedin.com/company/ibclaw/ Not just legal news —IBC Laws delivers a full-stack legal research platform, Check More Features: https://ibclaw.in/subscription/

DRT-Visakhapatnam For a subsequent SARFAESI auction after earlier failed sales, a separate Rule 8(6) and Rule 9(1) notice is not required, and a 15 days’ gap between sale notice and auction is sufficient under the proviso to Rule 9(1) Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Sections 13(2), 14, 17(1); Security Interest (Enforcement) Rules, 2002, Rules 8(5), 8(6), 8(7), 9(1) – challenge to SARFAESI measures, Section 14 proceedings, auction notices, reserve price, alleged agricultural nature of property, and non-registration with CERSAI. Held that the statement of account showed that the borrower’s account was.... Read More: https://ibclaw.in/penumarthi-rama-krishna-chowdary-vs-ikf-finance-ltd-and-ors-drt-visakhapatnam/ Reported at: (2026) ibclaw.in 459 DRT Download Mobile App(iOS/Android): https://ibclaw.in/mobile-app/ Activate WhatsApp Updates : https://ibclaw.in/whatsapp-updates/ Follow for Daily Updates: Follow on LinkedIn: https://www.linkedin.com/company/ibclaw/ Not just legal news —IBC Laws delivers a full-stack legal research platform, Check More Features: https://ibclaw.in/subscription/

DRAT-Chennai Separate demand and possession notices can be issued for different loan accounts secured by a common mortgaged property, and sale of the secured asset is not invalid merely because the building was described as land with construction thereon without a floor-wise description Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Sections 13(2), 13(3A), 13(4) and 18; Security Interest (Enforcement) Rules, 2002, Rules 8(5), 8(6), 8(7) and 9(1) – challenge to SARFAESI sale of a common mortgaged property securing two separate loan accounts – issue as to limitation, permissibility of separate demand and possession notices, sufficiency of property.... Read More: https://ibclaw.in/s-uma-vs-authorised-officer-bank-of-baroda-and-anr-drat-chennai/ Reported at: (2026) ibclaw.in 203 DRAT Download Mobile App(iOS/Android): https://ibclaw.in/mobile-app/ Activate WhatsApp Updates : https://ibclaw.in/whatsapp-updates/ Follow for Daily Updates: Follow on LinkedIn: https://www.linkedin.com/company/ibclaw/ Not just legal news —IBC Laws delivers a full-stack legal research platform, Check More Features: https://ibclaw.in/subscription/

DRAT-Kolkata Where validity of demand notice under Section 13(2), possession notice under Section 13(4), and compliance with Rules 8 and 9 of the Security Interest (Enforcement) Rules are under challenge in connected SARFAESI appeals, the matter is liable to be remanded for fresh adjudication Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Sections 13(2), 13(4), 14 and 17; Security Interest (Enforcement) Rules, 2002, Rules 8(1), 8(2), 8(3), 8(4), 8(6), 9(1) and 9(2) — challenge to sale notice, possession notice and auction sale on the ground of non-service and breach of mandatory procedure — Held that the issues relating to.... Read More: https://ibclaw.in/myneni-subba-rao-and-anr-vs-icici-home-finance-company-ltd-and-ors-drat-kolkata/ Reported at: (2026) ibclaw.in 208 DRAT Download Mobile App(iOS/Android): https://ibclaw.in/mobile-app/ Activate WhatsApp Updates : https://ibclaw.in/whatsapp-updates/ Follow for Daily Updates: Follow on LinkedIn: https://www.linkedin.com/company/ibclaw/ Not just legal news —IBC Laws delivers a full-stack legal research platform, Check More Features: https://ibclaw.in/subscription/

DRAT-Delhi A Chartered Accountant’s report cannot establish title over goods lying in the secured asset, and where the securitisation applicant proved ownership of raw material and finished goods, DRT’s direction to de-seal the premises and release the goods was rightly reiterated on remand Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 13(4); Prevention of Money Laundering Act, 2002 – dispute concerned release of movable goods lying in the secured premises and the effect of a provisional attachment order under the PMLA after remand by the Appellate Tribunal. Held that the remand order dated 11.03.2020 required the DRT.... Read More: https://ibclaw.in/bank-of-baroda-erstwhile-dena-bank-vs-thirmax-enterprises-ltd-and-ors-drat-delhi/ Reported at: (2026) ibclaw.in 199 DRAT Download Mobile App(iOS/Android): https://ibclaw.in/mobile-app/ Activate WhatsApp Updates : https://ibclaw.in/whatsapp-updates/ Follow for Daily Updates: Follow on LinkedIn: https://www.linkedin.com/company/ibclaw/ Not just legal news —IBC Laws delivers a full-stack legal research platform, Check More Features: https://ibclaw.in/subscription/

NCLT-Hyderabad Bench Where lease rentals forming the very basis of a rental securitisation facility were fraudulently waived in favour of a related party and huge interest-free advances were diverted to directors and related entities, such conduct amounts to fraudulent trading under Section 66 of IBC warranting contribution to the assets of the Corporate Debtor Read More: https://ibclaw.in/gonugunta-murali-liquidator-of-butta-infrastructure-pvt-ltd-vs-siva-neelakanta-butta-and-ors-nclt-hyderabad-bench/ Reported at: (2026) ibclaw.in 2212 NCLT Bench: Shri Rajeev Bhardwaj (Judicial Member) and Shri Sanjay Puri (Technical Member) Download Mobile App(iOS/Android): https://ibclaw.in/mobile-app/ Activate WhatsApp Updates : https://ibclaw.in/whatsapp-updates/ Follow for Daily Updates: Follow on LinkedIn: https://www.linkedin.com/company/ibclaw/ Not just legal news —IBC Laws delivers a full-stack legal research platform, Check More Features: https://ibclaw.in/subscription/

NCLT-Chennai Bench For invoking Section 66 of IBC, mere accounting irregularities or absence of supporting documents are insufficient Read More: https://ibclaw.in/rajalakshmi-vardarajan-rp-for-supreme-coated-board-mills-pvt-ltd-vs-mariappan-thangeswari-and-ors-nclt-chennai-bench/ Reported at: (2026) ibclaw.in 2137 NCLT Bench: Shri Jyoti Kumar Tripathi (Judicial Member) and Shri Ravichandran Ramasamy (Technical Member) Download Mobile App(iOS/Android): https://ibclaw.in/mobile-app/ Activate WhatsApp Updates : https://ibclaw.in/whatsapp-updates/ Follow for Daily Updates: Follow on LinkedIn: https://www.linkedin.com/company/ibclaw/ Not just legal news —IBC Laws delivers a full-stack legal research platform, Check More Features: https://ibclaw.in/subscription/

NCLAT-New Delhi Whether the Adjudicating Authority can admit a subsequent petition under Section 9 of the IBC against the same Corporate Debtor when an earlier CIRP admission order existed but was later stayed by the Appellate Tribunal? Insolvency and Bankruptcy Code, 2016 – Sections 8, 8(2), 9, 9(5), 14(1)(a), 61 – issue was whether the first Section 9 petition disclosed an undisputed operational debt and whether a second Section 9 petition could be admitted against the same corporate debtor during subsistence of an earlier CIRP admission order that had later been stayed. Held that contemporaneous emails, signed.... Read More: https://ibclaw.in/abhishek-singh-vs-rajaram-foods-products-india-ltd-and-anr-nclat-new-delhi/ Reported at: (2026) ibclaw.in 810 NCLAT Bench: Mr. Justice Ashok Bhushan (Chairperson) and Mr. Barun Mitra (Technical Member) Download Mobile App(iOS/Android): https://ibclaw.in/mobile-app/ Activate WhatsApp Updates : https://ibclaw.in/whatsapp-updates/ Follow for Daily Updates: Follow on LinkedIn: https://www.linkedin.com/company/ibclaw/ Not just legal news —IBC Laws delivers a full-stack legal research platform, Check More Features: https://ibclaw.in/subscription/

NCLT-Jaipur Bench A Corporate Debtor can be ordered into liquidation under Section 33(2) of IBC on the CoC’s commercial decision even where no Form G is issued and no valuation is undertaken, if there are no identifiable assets, no investor interest and no resolution plan before the Adjudicating Authority Insolvency and Bankruptcy Code, 2016 – Sections 19(2), 19(3), 33(2), 33(5), 52; Insolvency Resolution Process for Corporate Persons Regulations, 2016 – Regulations 35, 39(4). Application by Resolution Professional seeking liquidation of the corporate debtor and his appointment as liquidator, where the CoC consisting of sole financial creditor with 100% voting share resolved to liquidate after noting absence of assets, no.... Read More: https://ibclaw.in/ajay-kumar-atolia-rp-of-viratra-export-pvt-ltd-nclt-jaipur-bench/ Reported at: (2026) ibclaw.in 2218 NCLT Bench: Ms. Reeta Kohli (Judicial Member) and Ms. Kavita Bhatnagar (Technical Member) Download Mobile App(iOS/Android): https://ibclaw.in/mobile-app/ Activate WhatsApp Updates : https://ibclaw.in/whatsapp-updates/ Follow for Daily Updates: Follow on LinkedIn: https://www.linkedin.com/company/ibclaw/ Not just legal news —IBC Laws delivers a full-stack legal research platform, Check More Features: https://ibclaw.in/subscription/

NCLT-Mumbai Bench No contempt lies for non-handover of original title deeds when the bank did not possess them and there was no wilful disobedience of the NCLT’s order Read More: https://ibclaw.in/v-square-and-anr-vs-vishwanath-v-jare-nclt-mumbai-bench/ Reported at: (2026) ibclaw.in 2107 NCLT Bench: Shri Sushil Mahadeorao Kochey (Judicial Member) and Mr. Prabhat Kumar (Technical Member) Download Mobile App(iOS/Android): https://ibclaw.in/mobile-app/ Activate WhatsApp Updates : https://ibclaw.in/whatsapp-updates/ Follow for Daily Updates: Follow on LinkedIn: https://www.linkedin.com/company/ibclaw/ Not just legal news —IBC Laws delivers a full-stack legal research platform, Check More Features: https://ibclaw.in/subscription/

NCLAT-New Delhi Where contemporaneous communications predating the Section 8 demand notice disclose work-performance disputes and a draft settlement record ongoing disputed claims, admission of an application under Section 9 of IBC is unsustainable Insolvency and Bankruptcy Code, 2016 – Sections 8, 9, 9(5)(ii)(d) and 61. Issue was whether the operational creditor’s Section 9 application was maintainable despite the corporate debtor’s plea of pre-existing disputes arising from alleged deficient performance under the work order. Held that applying the test in Mobilox Innovations Pvt. Ltd. v. Kirusa Software Pvt. Ltd., the Adjudicating Authority was only.... Read More: https://ibclaw.in/rahul-bhakat-vs-sree-ugcl-projects-ltd-and-anr-nclat-new-delhi/ Reported at: (2026) ibclaw.in 794 NCLAT Bench: Mr. Justice Ashok Bhushan (Chairperson) and Mr. Barun Mitra (Technical Member) Download Mobile App(iOS/Android): https://ibclaw.in/mobile-app/ Activate WhatsApp Updates : https://ibclaw.in/whatsapp-updates/ Follow for Daily Updates: Follow on LinkedIn: https://www.linkedin.com/company/ibclaw/ Not just legal news —IBC Laws delivers a full-stack legal research platform, Check More Features: https://ibclaw.in/subscription/

NCLT-Mumbai Bench A Section 95 IBC petition against a Personal Guarantor is maintainable within limitation where the guarantee makes the Corporate Debtor’s acknowledgments binding on the guarantor Read More: https://ibclaw.in/state-bank-of-india-vs-gokul-a-agarwal-nclt-mumbai-bench-2/ Reported at: (2026) ibclaw.in 2260 NCLT Bench: Shri Sushil Mahadeorao Kochey (Judicial Member) and Mr. Prabhat Kumar (Technical Member) Download Mobile App(iOS/Android): https://ibclaw.in/mobile-app/ Activate WhatsApp Updates : https://ibclaw.in/whatsapp-updates/ Follow for Daily Updates: Follow on LinkedIn: https://www.linkedin.com/company/ibclaw/ Not just legal news —IBC Laws delivers a full-stack legal research platform, Check More Features: https://ibclaw.in/subscription/