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About IBC Laws | Keep you up2date 🗞️
We keep you up2date on matters related to Insolvency (IBC), Company Law, RERA, Banking Laws (SARFAESI, DRT, NI), Arbitration Laws, and more. Find Case Laws with *Extra Search* 🔍 & Filter Options and Read 📖 with *Case Summaries* 📑, know more features, visit here: 🔗 https://ibclaw.in/subscription/ 📦 Check sample of popular *Insolvency Journal* (in-print) 📓, here: 🔗 https://ibclaw.in/insolvency-journal/ -- *IBC Laws®* _A Sector Specific Legal Research_ www.ibclaw.in
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Companies Act: *When the petition is filed under Section 241-242 of Companies Act, 2013, pleadings which are submitted are record of the Court and no amendment or tinkering in pleadings filed by the parties can be allowed without leave of the Court – NCLAT New Delhi* _Mr. Justice Ashok Bhushan (Chairperson) and Mr. Barun Mitra (Technical Member)_ Case Citation: (2025) ibclaw.in 384 NCLAT Read here full summary: https://ibclaw.in/deloitte-haskins-and-sells-llp-vs-union-of-india-and-ors-nclat-new-delhi/
*Supreme Court has issued an order to maintain status quo regarding the proceedings before the NCLT in the matter of the liquidation of Bhushan Power and Steel Ltd.* The Supreme Court heard arguments from senior counsels representing the appellant, the first respondent (ex-promoters), and the Solicitor General for other respondents. The appellant submitted that it intends to file a Review Petition against the Court's judgment dated 02.05.2025 in _Kalyani Transco vs. Bhushan Power and Steel Ltd. & Ors._, and that the limitation period for filing the petition has not yet expired. The appellant expressed concern that implementation of the directions issued in the earlier judgment, as sought by the ex-promoters, may prejudice the outcome of the impending Review Petition. Accordingly, a request was made for a practical interim arrangement. Without delving into the merits of the case, the Court ordered status quo regarding the proceedings before the NCLT to prevent future legal complications. This interim order will remain in effect until the Review Petition is filed and decided by the Court. The Court also recorded the assurance given by the appellant's counsel that the Review Petition will be filed within the prescribed limitation period and in accordance with law. The appeal and all pending applications were disposed of in these terms. Read here: https://ibclaw.in/jsw-steel-ltd-vs-sanjay-singhal-and-ors-supreme-court/
Arbitration: *Once an application in due compliance with Section 8 of the Arbitration and Conciliation Act, 1996 is filed, the approach of the civil court should be not to see whether the court has jurisdiction, it should be to see whether its jurisdiction has been ousted – Supreme Court* _Mr. Justice J. B. Pardiwala and Mr. Justice R. Mahadevan_ Case Citation: (2025) ibclaw.in 183 SC Once there is an arbitration agreement between the parties, a judicial authority before whom an action is brought covering the subject-matter of the arbitration agreement is under a positive obligation to refer parties to arbitration by enforcing the terms of the contract. There is no element of discretion left in the court or judicial authority to obviate the legislative mandate of compelling parties to seek recourse to arbitration. Once an application in due compliance with Section 8 of the Act of 1996 is filed, the approach of the civil court should be not to see whether the court has jurisdiction. It should be to see whether its jurisdiction has been ousted. https://ibclaw.in/k-mangayarkarasi-and-anr-vs-n-j-sundaresan-and-anr-supreme-court/
Insolvency: *The power of judicial review in Section 31 of the IBC is not akin to the power of a supervision jurisdiction to deal with the merits of the decision of any lower judicial authority – NCLAT New Delhi* _Mr. Justice Rakesh Kumar Jain (Judicial Member), Mr. Indevar Pandey (Technical Member) and Mr. Naresh Salecha (Technical Member)_ Case Citation: (2025) ibclaw.in 386 NCLAT Read here full summary: https://ibclaw.in/hari-vitthal-mission-vs-ravi-sethia-and-ors-nclat-new-delhi/
*Landmark Judgments IBC May 2025 | Insolvency Code* Check here: https://youtu.be/BlEtlx2CcJA
Arbitration: *Whether, due to non-compliance with Section 12A of the Commercial Courts Act, 2015, a suit should be dismissed under Order VII Rule 11 of the CPC, or whether it should be kept in abeyance, directing the parties to first explore the possibility of settlement by instituting mediation? – Supreme Court* _Mr. Justice J. B. Pardiwala and Mr. Justice R. Mahadevan_ Case Citation: (2025) ibclaw.in 186 SC This judgment covers: A. Legislative intent behind the enactment of Section 12A of Commercial Courts Act, 2015 B. Section 12A of Commercial Courts Act, 2015, is mandatory in nature C. How the expression “urgent interim relief” is to be construed D. The effect of according prospectivity to the declaration in Patil Automation (supra) on cases like the one at hand E. The equitable maxim lex non cogit ad impossibilia F. Conclusion G. Answer to the Issue H. Disposed of https://ibclaw.in/dhanbad-fuels-pvt-ltd-vs-union-of-india-and-anr-supreme-court/
Arbitration: *The default fixation of “seat of arbitration” at a place where the arbitral tribunal holds the arbitration proceedings being the “venue of arbitration” and consequently, the “seat of arbitration” would be attracted where there is no contrary indicia and inexorable conclusion is that the ‘venue’ is actually ‘judicial seat’ of the arbitration proceedings – Gujarat High Court* _Mrs. Justice Sunita Agarwal (Chief Justice) and Mr. Justice Pranav Trivedi_ Case Citation: (2025) ibclaw.in 742 HC Though there is no requirement for the arbitrator to pass a detailed order or a considered decision so as to fix the place of arbitration while exercising the jurisdiction under Sub-section (2) of Section 20 of the Act, but where there are more than one place or location, where the hearings or proceedings of arbitration had taken place, it would be relevant to fix the “seat of arbitration” for the purpose of application of exclusive jurisdiction clause by determining as to whether the parties by choice had agreed to accord jurisdiction to a Court at a place other than the place where the cause of action has arisen. https://ibclaw.in/union-of-india-vs-pushkarraj-construction-pvt-ltd-gujarat-high-court-2/
Arbitration: *Whether while exercising power under Section 11 of the Arbitration and Conciliation Act, 1996, it would be permissible to hold that some of the claims raised are non-arbitrable or fall within excepted category? – Supreme Court* _Mr. Justice P.S. Narasimha and Mr. Justice Manoj Misra_ Case Citation: (2025) ibclaw.in 180 SC Whether while exercising power under Section 11 of the Arbitration and Conciliation Act, 1996, the Court has to confine its consideration as to the existence of an arbitration agreement between the parties. If so, whether it would be permissible, while exercising jurisdiction under Section 11, to hold that some of the claims raised are non-arbitrable or fall within excepted category? https://ibclaw.in/office-for-alternative-architecture-vs-ircon-infrastructure-and-services-ltd-supreme-court/
*Supreme Court important judgment* *Section 11 of the SARFAESI Act is mandatory in nature | There is no requirement of existence of a written arbitration agreement under Section 11 of the SARFAESI Act, 2002 | Section 2(f) of the SARFAESI Act, 2002 does not leave out the entities who are banks but taking the loans in the capacity of a borrower* Read here IBC Laws Case Summary: https://ibclaw.in/bank-of-india-vs-sri-nangli-rice-mills-pvt-ltd-and-ors-supreme-court/ This summary covers: A. Scope and ambit of Section 11 of the SARFAESI Act, 2002 B. Meaning of the expression “non-payment of any amount due including interest” C. Section 11 of SARFAESI Act, 2002 will not apply to disputes between Bank(s), Financial Institution(s), ARC(s) or Qualified Buyer(s), who are otherwise a Borrower D. Definition of ‘Borrower’ in Section 2(f) of the SARFAESI Act F. There is no requirement of existence of a written arbitration agreement under Section 11 of the SARFAESI Act G. Section 11 of the SARFAESI Act is mandatory in nature H. Conclusion I. Disposed of *Subscribe here*: https://ibclaw.in/subscription/
*Landmark Judgments Arbitration | ADR Case Law, May 2025* Check here: https://youtu.be/h4u6-K3rgic