ICAI’s Compilation of ‘Case Laws’ under ‘IBC 2016’ (Series 1)

The ICAI has released a publication/compilation of 79 ‘Judicial Pronouncements’/’Case Laws (Series-1)’ under the ‘Insolvency and Bankruptcy Code (IBC) 2016’.

This compilation includes the Orders issued by the Hon’ble Supreme Court (SC) of India, various High Courts (HC), National Company Law Appellate Tribunal (NCLAT), and National Company Law Tribunal (NCLT).

ICAI's Compilation of 'Case Laws' under 'IBC 2016' (Series 1): August 2018 Edition

As more corporations are admitted into the resolution process under the ‘Insolvency and Bankruptcy Code (IBC) 2016’, the Code is evolving to address emerging implementation issues.

The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018, is the most recent step in this direction.

The ICAI and IIIP have collaborated to bring out the first series of the publication titled “Judicial Pronouncements under the IBC 2016” to assist professionals in gaining a clear understanding of the subject.

ICAI Publication on Case Laws/ Judicial Pronouncements (Series 1) under IBC 2016 (August 2018)

S.No. Case PageNo.
1. Orders passed by Supreme Court of India
1 Chitra Sharma & Others Vs Union of India & Others 1-3
2 Neelkanth Township and Construction Private Ltd. and Financial Creditor Vs. Urban Infrastructure Trustees Ltd. (Corporate Debtor) 3-6
3 Macquarie Bank Technologies Ltd. 6-9
4 Mobilox Innovations Private Limited (Corporate Debtor) Vs Kirusa Software Private Limited (Operational Creditor) 9-14
5 Surendra Trading Company Vs Juggilal Kamlapat Jute Mills Company Limited and Others 15-16
6 Alchemist Asset Reconstruction Company Ltd (Financial Creditor) Vs Hotel Gaudavan Private Ltd. (Corporate Debtor) 16-18
7 Innoventive Industries Ltd. (Corporate Debtor) Vs ICICI Bank & Another (Financial Creditor) 18-26
8 Lokhandwala Kataria Construction Private Ltd.(Corporate Debtor) Vs Nisus Finance & Investment Manager LLP (Financial Creditor). 27-28
9 Shivam Water Treaters Private Ltd. Vs Union of India 28-28
2. Orders passed by High Courts
1 Sree Metaliks Limited and Another (Corporate Debtor) Vs Union of India & Another 29-31
2 Essar Steel India Limited & Another Vs Reserve Bank of India &  Others 32-37
3 Akshay Jhunjhunwala & Another Vs Union of India through MCA & Others 37-38
4 Power Grid Corporation of India Ltd Vs Jyoti Structures Ltd. 38-39
3. Orders passed by National Company Law Appellate Tribunal
1 Gurcharan Singh Soni & Kuldeep Kaur Soni Vs Unitech Ltd. 40-40
2 Palogix Infrastructure Private Limited (Corporate Debtor) Vs ICICI Bank Limited (Financial Creditor) 41-44
3 S3 Electrical & Electronics Private Ltd. (Corporate Debtor) Vs Brian Lau (Financial Creditor) 45-46
4 Mack Soft Tech Private Ltd. Vs Quinn Logist 46-52
5 Bharti Defence and Infrastructure Limited Vs Edelweiss Asset Reconstruction Company Limited 53-55
6 Ravi Mahajan Vs Sunrise Denmark A/S, Denmark 55-56
7 Nikhil Mehta and Sons HUF Vs Amr infrastructure Ltd. 57-59
8 PEC Ltd (Financial Creditor) Vs Sree Ramkrishna Alloys Ltd (Corporate Debtor) 59-62
9 Senthil Kumar Karmegam Vs Dolphin Offshore Enterprises (Mauritius) Private Ltd. 62-63
10 JK Jute Mills Company Limited Vs Surendra Trading Company Limited 64-66
11 Kirusa Software Private Ltd. (Operational Creditor) Vs Mobilox Innovations Private Ltd. (Corporate Debtor) 66-71
12 Black Pearl Hotels Private Ltd. (Operational Creditor) Vs Planet M Retail Ltd. (Corporate Debtor) 71-72
13 Ksheeraabad Constructions Private Ltd. (Corporate Debtor) Vs Vijay Nirman Company Private Ltd. (Operational Creditor) 72-74
14 Shriram EPC Limited (Corporate Debtor) Vs Rio Glass Solar SA (Operational Creditor) 74-76
15 Sobha Limited Vs Pancard Clubs Ltd 76-77
16 Philips India Ltd. Vs Goodwill Hospital & Research Centre Ltd. And Karina Healthcare Private Ltd. 78-78
17 Ganesh Sponge Private Ltd. (Corporate Debtor) Vs Aryan Mining & Trading Corporation Private Ltd. (Operational Creditor) 79-80
18 Labdhi Enterprises (Operational Creditor) Vs Baramati Agro Private Limited (Corporate Debtor) 81-82
19 Paramjeet Singh (Corporate Debtor) Vs Maxim Tubes Company Private Ltd (Operational Creditor) 82-83
20 Siddharth Nahata Director/ Shareholder of Tryst Industries Private Limited (Corporate Debtor) Vs Billets Elektro Werke Private Ltd. (Operational Creditor) 83-84
21 MCL Global Steel Private Ltd. & Another (Corporate Debtor) Vs Essar Projects India Ltd. & Another (Operational Creditor) 85-86
22 Annapurna Infrastructure Private Ltd. (Operational Creditor) Vs Soril Infra Resources Ltd. (Corporate Debtor) 86-89
23 Achenbach Buschhutten GMBH & Company Vs Arcotech Limited 89-91
24 Raj Hari Eswaran Vs CMI India Private Limited & Another 91-93
25 Paharpur Cooling Towers Limited Vs Ankit Metal & Power Limited 93-95
26 Antrix Diamond Exports Private Ltd (Corporate Debtor) Vs Bank of India & Others (Financial Creditor) 95-97
27 Unigreen Global Private Limited (Corporate Debtor) Vs Punjab National Bank and others (Financial Creditors) 98-100
28 Ameya Laboratories Limited Vs Kotak Mahindra Bank, IDBI Bank Ltd. Asset Reconstruction Company (India) Limited 100-102
29 Alpha & Omega Diagnostics (India) Ltd. (Corporate Debtor) Vs Asset Reconstruction Co of India Ltd. 102-103
30 Schweitzer Systemtek India Private Ltd. Vs Phoenix ARC Private Limited 103-104
31 Quinn Logistics India Private Limited Vs Mack Soft Tech Private Limited 105-107
32 Quantum Limited (Corporate Debtor) Vs Indus Finance Corporation Limited 107-109
33 State Bank of India (Financial Creditor) Vs V Ramakrishnan (Director of Corporate Debtor) and Veesons Energy Systems Private Ltd. (Corporate Debtor) 110-112
34 Dakshin Gujarat VIJ Company Ltd. (Petitioner) Vs ABG Shipyard Ltd. & Another 112-113
35 Innoventive Industries Ltd. (Corporate Debtor) Vs ICICI Bank & Another (Financial Creditor) 114-121
36 Starlog Enterprises Ltd. (Corporate Debtor) Vs ICICI Bank Ltd. (Financial Creditor) 121-123
4. Orders passed by National Company Law Tribunal
1 Edelweiss Asset Reconstruction Co. Ltd. Vs Murli Industries Ltd. 124-125
2 Hero FinCorp Ltd. Vs Steel Konnect (India) Pvt. Ltd. 125-126
3 State Bank of India and Standard Chartered Bank Vs Essar Steels Ltd. and Essar Steels India Ltd. 126-133
4 Edelweiss Asset Reconstruction Co. Ltd Vs Kalptaru Alloys Private Limited 133-134
5 ICICI Bank Ltd Vs Innoventive Industries Ltd 134-136
6 Bank of Baroda Vs Rotomac Global Pvt. Ltd and Rotomac Exports Pvt Ltd 136-137
7 Alchemist Asset Reconstruction Co. Limited Vs Moser Baer India Limited 138-138
8 Punjab National Bank Vs Rishi Ganga Power Corporation Limited. 139-140
9 Parker Hannifin India Private Ltd. Vs Prowess International (P) Ltd. 140-141
10 Prideco Commercial Projects Private Ltd. Vs Era Infra Engineering Ltd. 141-142
11 Ashok Alco-Chem Ltd Vs Unimark Remedies Ltd. 142-143
12 Sanjaya Kumar Ruia Vs Magna Opus Hospitality Private Ltd. 144-145
13 Alcon Laboratories (India) Private Ltd. Vs Vasan Health Care Private Ltd. 145-147
14 Nowfloats Technologies Private Ltd. Vs GetitInfo services Private Ltd. 148-149
15 Macquarie Bank Ltd. Vs Shilpi Cable Technologies Ltd 149-151
16 Annapurna Infrastructure Private Ltd Vs Soril Infra Resources Ltd 151-152
17 Macquarie Bank Limited Vs Uttam Galva Metallics Limited 152-154
18 Mahendra Trading Co Vs Hindustan Controls & Equipments (Private) Limited 154-156
19 Incredible Unique Buildcon Private Ltd. Vs Clutch Auto Ltd. 157-158
20 Sky Blue Papers Private Ltd. (Corporate Applicant) 158-159
21 Union Bank of India Vs Raman Ispat Pvt. Ltd. 159-160
22 Schweitzer Systemtek India Private Limited Vs Phoenix ARC Private Limited 160-162
23 Punjab National Bank & others Vs Unigreen Global Private Ltd. 162-164
24 Alpha & Omega Diagnostics (India) Ltd Vs Asset Reconstruction Co of India Ltd 164-165
25 Bank of Baroda Vs Binani Cement Ltd 165-172
26 Corporation Bank Vs Amtek Auto Ltd 172-173
27 Punjab National Bank Vs Bhushan Power & Steel Ltd 174-177
28 Standard Chartered Bank and State Bank of India Vs Essar Steel India Ltd (Numetal Limited, Arcellor Mittal India Pvt Ltd) 177-181
29 Anshuman Chaturvedi, RP (Applicant) 181-182
30 Punjab National Bank Vs Siddhi Vinayak Logistic Ltd 182-186

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ICAI’s Compilation of ‘Case Laws’ under ‘IBC 2016’ (Series 3)

ICAI’s Compilation of ‘Case Laws’ under ‘IBC 2016’ (Series 2)

ICAI’s Compilation of ‘Case Laws’ under ‘IBC 2016’ (Series 1)

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