The ICAI has published/compiled 50 ‘Judicial Pronouncements’/’Case Laws’ (Series-2) under the ‘Insolvency and Bankruptcy Code (IBC) 2016’.
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) are included in this compilation.
The ICAI’s Corporate Laws & Corporate Governance Committee’s Insolvency and Bankruptcy Laws Group and the Indian Institute of Insolvency Professionals have collaborated to bring out the second series of the publication “Judicial Pronouncements under the Insolvency and Bankruptcy Code, 2016” to assist professionals in gaining a clear understanding of the Code.
ICAI Publication/ Compilation (Series 2) on Case Laws/ Judicial Pronouncements under IBC 2016 (January, 2019)
| S.No. | Case | PageNo. |
| 1. Orders passed by Supreme Court of India | ||
| 1 | Transmission Corporation of Andhra Pradesh Limited (Appellant) Vs .Equipment Conductors and Cables Limited (Respondent) | 1-2 |
| 2 | B. K. Educational Services Private Limited (Appellant) Vs. Parag Gupta and Associates (Respondent) | 3-4 |
| 3 | Bank of New York Mellon London Branch (Appellant) Vs. Zenith Infotech Limited (Respondent) | 4-5 |
| 4 | K. Kishan (Appellant) Vs.M/s Vijay Nirman Company Pvt. Ltd. (Respondent) | 6-7 |
| 5 | Chitra Sharma and Others (Petitioners) Vs. Union of India and Others (Respondent) | 8-11 |
| 6 | Uttara Foods & Feeds Private Limited (Appellant) Vs. Mona Pharmachem (Respondent) | 12-13 |
| 2. Orders passed by High Courts | ||
| 1 | Sanjeev Shriya (Petitioner) Vs. State Bank of India and 6 others (Respondents) | 14-17 |
| 2 | Dr. Vidya Sagar Garg (Petitioner) Vs. Insolvency and Bankruptcy Board of India (Respondent) | 17-18 |
| 3 | Jotun India Private Limited (Petitioner) Vs. PSL Limited (Corporate Debtor) Respondent Applicant (org. respondent) | 18-22 |
| 3. Orders passed by National Company Law Appellate Tribunal | ||
| 1 | AVON Capital, (Appellant) Vs. Tattva & Mittal Lifespaces Pvt. Ltd. (Respondent/ Corporate Debtor) | 23-24 |
| 2 | Export Import Bank of India (Appellant) Vs. Resolution Professional JEKPL Private Limited (Respondent) | 24-27 |
| 3 | Jagmohan Bajaj (Appellant) (one of the shareholders of Respondent No. 1 – ‘Shivam Fragnances Pvt. Ltd.’ (Corporate Debtor) Vs. Shivam Fragrances Private Limited (Respondents/ Corporate Debtor) Amiga Informatics Pvt. Ltd. (Financial Creditor) | 27-28 |
| 4 | Ajay Chaturvedi (Appellant/ Shareholder of Corporate Debtor) Vs. JM Financial Asset Reconstruction Co. Ltd. & Anr. (Respondents/ Financial Creditor) | 29-30 |
| 5 | M/s Asset Advisory Services India Pvt. Ltd. (Appellant/ Financial Creditor) Vs. M/s VSS Projects Pvt. Ltd., (Respondents/ Corporate Debtor) | 30-32 |
| 6 | Indian Overseas Bank (Appellant) Vs. Mr Dinkar T. Venkatsubramaniam (Respondent) (Resolution Professional for Amtek Auto Ltd) | 33-34 |
| 7 | O.A.A Ananthpadmanaban Chettiar (Appellant) Vs. Sri. Mahalakshmi Textiles (Respondents) | 34-35 |
| 8 | Pravinbhai Raninga (Appellant) Vs. The Kotak Resources (Respondent 1), M/s Raninga Ispat Private Limited (Respondent 2) | 36-37 |
| 9 | M/s. Subasri Realty Private Limited (Appellant) Vs. Mr. N. Subramanian & Anr. (Respondents) | 37-38 |
| 10 | International Road Dynamics South Asia Private Limited (Appellant) Vs. Reliance Infrastructure Limited (Respondent) International Road Dynamics South Asia Private Limited (Appellant) Vs. D.A. Toll Road Private Limited (Respondent) | 39-41 |
| 11 | Mr. Suresh Padmanabhan & Anr. (Appellant) Vs.Tata Steel Ltd. & Ors. (Respondents) | 41-42 |
| 12 | G. M. Lingaraju (Appellant) Vs.Gurudatt Sugars Marketing Private Limited & Anr. (Operational Creditor/Respondent) | 43 |
| 13 | Era Infra Engineering Ltd. (Appellant/ Corporate Debtor) Vs. Prideco Commercial Projects Pvt. Ltd. (Respondent) | 44-45 |
| 14 | Sudhi Sachdev (Appellant – Promoter) Vs. APPL Industries Limited (Respondent -Operational Creditor) | 45-47 |
| 15 | Jaya Patel (Appellant) Vs. Gas Jeans Pvt. Ltd. & Ors. (Respondents) | 47-48 |
| 16 | Anil Nanda (Appellant) Vs Hari Kishan Sharma & Ors (Respondents) | 48-49 |
| 17 | Sudhir Sales & Services Ltd. (Appellant/ Operational Creditor) Vs D-Art Furniture Systems Pvt. Ltd (Respondent) | 49-52 |
| 18 | Praveen Arjun Patel (Appellant) Vs JK Lakshmi Cement Ltd. (Respondents/ Corporate Debtor) | 52-53 |
| 19 | Binani Industries Limited (Appellant/ Corporate Debtor) Vs Bank of Baroda & Anr. (Respondents) | 54-57 |
| 20 | Mr. Devendra Padamchand Jain, Resolution Professional (Appellant) Vs. State Bank of India, State Bank of Hyderabad, Indian Overseas Bank, Punjab National Bank, Bank of India, Bank of Baroda, IFCI Limited, IFCI Factors Limited (Financial Creditors), VNR Infrastructure Ltd (Corporate Debtor), Insolvency and Bankruptcy Board of India (Board) (Respondents) | 57-60 |
| 21 | Amandeep Singh Bhatia & Ors (Appellant/ Operational Creditor) Vs. Vitol S.A. & Anr (Respondents/ Corporate Debtor) | 60-61 |
| 22 | Neelkanth Township and Construction Private Limited (Appellant) Vs.Urban Infrastructure Trustee Limited (Respondents) | 61-63 |
| 4. Orders passed by National Company Law Tribunal | ||
| 1 | Small Industries Development Bank Of India Vs. Alps Leisure Holidays Pvt. Ltd. | 64-65 |
| 2 | Asset Reconstruction Company (India) Limited Vs M/S Sri Srivathsa Paper Mills Private Limited | 65-66 |
| 3 | Stanbic Bank Ghana Limited Vs. Rajkumar Impex Private Limited | 66-68 |
| 4 | Manohar Karamchandani Vs. Balajidham Buildestates Pvt. Ltd. | 68-69 |
| 5 | Venus Furniture Vs. AUM Structbuild Pvt. Ltd | 69-70 |
| 6 | Bhagwati Kripa Paper Mills Pvt. Ltd., Vs. A.P. Enterprises Private Limited | 70-72 |
| 7 | Deevya Shakti Paper Mills (P) Ltd Vs. Borkar Colour Packs Private Limited | 72-74 |
| 8 | Indian Bank, Oriental Bank of Commerce, Allahabad Bank, Indian Overseas Bank, Karur Vysya Bank, Central Bank of India, Andhra Bank, Bank of Maharashtra Vs. Kamineni Steel & Power India Pvt. Ltd | 74-75 |
| 9 | Allahabad Bank Vs. SBM Paper Mills Ltd | 75-80 |
| 10 | State Bank of India Vs. Adhunik Metaliks Limited | 80-82 |
| 11 | Oasis Agro Infra Ltd, Amandeep Singh, Resolution Professional. Vs. Mandeep Singla & Ors. (Suspended Board of Directors) | 83-84 |
| 12 | State Bank of India Vs. Electrosteel Steels Ltd | 84-85 |
| 13 | State Bank of India Vs. Bhushan Steel Limited | 85-91 |
| 14 | Pratik Ramesh Chirania Vs Trinity Auto Components Limited | 91-93 |
| 15 | Reliance Commercial Finance Limited Vs. Ved Cellulose Limited | 93-95 |
| 16 | RBL Bank Ltd.Vs. MBL Infrastructure Ltd | 95-99 |
| 17 | Mr. Sunil Gopichand Teckchandani & Others Vs. Metallica Industries Limited (Through IRP) | 99-101 |
| 18 | IDBI Bank Ltd.Vs. Jaypee Infratech Limited | 101-104 |
| 19 | Takkshill Enterprises Vs. IAP Company Private Limited | 105-107 |
Related Posts:
ICAI Publication on ‘IBC 2016 Judicial Pronouncements’ (Series 4)
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)
The Insolvency and Bankruptcy Code 2016 (IBC) has revolutionised India’s insolvency resolution process and has contributed significantly to the overall economic revival of the country. One of the most significant accomplishments of the code is the various judicial pronouncements which have been made since its enactment. These judgements constitute an essential repository of information for practitioners and stakeholders to gain an understanding of the legal issue at hand as well as the guiding principles of the Code. In particular, the judgements have clarified the scope and application of the Code and have provided a clear roadmap for insolvency resolution in the country. Furthermore, the judgements have also elucidated the duties of stakeholders and the importance of timely action in the insolvency resolution process. It is thus evident that the judicial pronouncements of the IBC 2016 code have been instrumental in achieving a favourable outcome for all stakeholders.