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IBC Laws | Keep you up2date 🗞️

6/17/2025, 1:47:09 PM

_Landmark Ruling: NCLAT clarifies IBC moratorium provision_ Issues: 🫸Can suspended directors make any payments in the ordinary course of business after a moratorium has been declared under Section 14 of the IBC? 🫸Can cheques issued prior to the commencement of CIRP be encashed after the moratorium starts? *Read here complete summary:* https://ibclaw.in/sunil-gutte-vs-avil-menezes-and-ors-nclat-new-delhi/

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6/17/2025, 12:02:57 PM

_Landmark decision of Hon'ble NCLAT_ 👉 *Is appointment and replacement of a Voluntary Liquidator under Section 59 of the IBC subject to judicial review by the Adjudicating Authority?* 👉 *Are Directors and Shareholders of the Corporate Debtor free to replace the voluntary liquidator at any stage of the liquidation process for any reason whatsoever?* Case Citation: (2025) ibclaw.in 410 NCLAT Bench: Mr. Justice Ashok Bhushan (Chairperson), Justice N Sesha Sayee (Judicial Member) and Mr. Barun Mitra (Technical Member) Read here complete summary: https://ibclaw.in/vinod-singh-vs-chandra-prakash-jain-and-ors-nclat-new-delhi/ *Subscribe IBC Laws for premium updates and extra search functions:* https://ibclaw.in/subscription/

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6/17/2025, 8:21:14 AM

*Companies Act, 2013 Recent Amendments* Up2date Amended Rules are available here: https://ibclaw.in/companies-act-2013-chapter-wise-rules/ 1. Companies (Audit and Auditors) Amendment Rules, 2025: https://ibclaw.in/companies-audit-and-auditors-amendment-rules-2025/ 2. Companies (Registration Offices and Fees) Amendment Rules, 2025: https://ibclaw.in/companies-registration-offices-and-fees-amendment-rules-2025/ 3. Companies (Cost Records and Audit) Amendment Rules, 2025: https://ibclaw.in/companies-cost-records-and-audit-amendment-rules-2025/ 4. Companies (Management and Administration) Amendment Rules, 2025: https://ibclaw.in/companies-management-and-administration-amendment-rules-2025/ 5. Companies (Audit and Auditors) Amendment Rules, 2025: https://ibclaw.in/companies-audit-and-auditors-amendment-rules-2025/ 6. Companies (Accounts) Amendment Rules, 2025: https://ibclaw.in/companies-accounts-amendment-rules-2025/ 7. Companies (Accounts) Second Amendment Rules, 2025: https://ibclaw.in/companies-accounts-second-amendment-rules-2025/ 8. Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Amendment Rules, 2025: https://ibclaw.in/companies-filing-of-documents-and-forms-in-extensible-business-reporting-language-amendment-rules-2025/

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6/14/2025, 2:39:26 PM

_NCLAT Judgment_ 👉 *Can Adjudicating Authority reduce claim of a creditor without giving an opportunity?* 👉 *Can NCLT direct for forensic audit even if no stakeholder has made a complaint or requested a forensic audit?* Read here IBC Laws Case Summary: https://ibclaw.in/dr-vichitra-narayan-pathak-vs-suraksha-realty-ltd-and-anr-nclat-new-delhi/

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6/14/2025, 11:52:17 AM

*Can a property of the Corporate Debtor be evacuated after the commencement of CIRP/ moratorium under Section 14 of IBC?* Read here IBC Laws Case Sumamry: https://ibclaw.in/nazru-s-basheer-vs-pancard-clubs-ltd-and-anr-nclat-new-delhi/

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5/28/2025, 12:22:27 PM

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/

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5/28/2025, 12:22:40 PM

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/

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5/28/2025, 12:22:15 PM

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/

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5/28/2025, 12:22:59 PM

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/

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5/27/2025, 11:00:39 AM

*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/