The ICAI published 48 “Judicial Pronouncements”/”Case Laws” (Series-3) under the “Insolvency and Bankruptcy Code (IBC) 2016”.
This compilation includes Orders issued by the Supreme Court (SC) of India, High Courts (HC), National Company Law Appellate Tribunal (NCLAT), and National Company Law Tribunal (NCLT). Practitioners and stakeholders benefit from these judgements. The judgements clarified the Code’s scope and application and provided a roadmap for insolvency resolution in the country.
Stakeholder duties and insolvency resolution timelines were explained in the judgements. Thus, the IBC 2016 code’s judicial pronouncements benefitted all stakeholders.
The ICAI’s Corporate Laws & Corporate Governance Committee’s Insolvency and Bankruptcy Laws Group and the Indian Institute of Insolvency Professionals have published the third series of the publication “Judicial Pronouncements under the Insolvency and Bankruptcy Code, 2016” to help professionals understand the Code.
ICAI Publication/ Compilation (Series 3) on Case Laws/ Judicial Pronouncements under IBC 2016 (June 2020)
| S.No. | Case | PageNo. |
| 1. Orders passed by Supreme Court of India | ||
| 1 | JK Jute Mill Mazdoor Morcha (Appellant) Vs. Juggilal Kamlapat Jute Mills Company Ltd. Through Its Director & Ors. (Respondents) (Date of Order: 30-04-2019) | 1 |
| 2 | Jaiprakash Associates Ltd & Anr. (Appellant) Vs. IDBI Bank Ltd. & Anr. (Respondents) (Date of Order: 06-11-2019) | 4 |
| 3 | Jignesh Shah & Anr. (Petitioners) Vs. Union of India & Anr. (Respondent) (Date of Order: 25-09-2019) | 7 |
| 4 | M/s Embassy Property Developments Pvt. Ltd. (Appellants) Vs. State of Karnataka & Ors. (Respondents) (Date of Order: 03-12-2019) | 10 |
| 5 | Municipal Corporation of Greater Mumbai (MCGM) (Appellants) Vs. Abhilash Lal & Ors (Respondents) (Date of Order: 15-11-2019) | 16 |
| 6 | Swiss Ribbons Pvt. Ltd. & Anr. (Petitioners) Vs. Union of India & Ors. (Respondents) (Date of Order: 25-01-2019) | 22 |
| 7 | Pioneer Urban Land & Infrastructure Limited & Another (Petitioners) Vs. Union of India and others (Respondent) (Date of Order: 09-08-2019) | 25 |
| 8 | Committee of Creditors of Amtek Auto Limited through Corporation Bank Appellant(s) Vs. Dinkar T. Venkatsubramanian & Ors. Respondent(s) (Date of Order: 24-09-2019) | 28 |
| 9 | Committee of Creditors of Essar Steel India Limited Through Authorised Signatory (Appellant) Vs. Satish Kumar Gupta & Ors. (Respondents) (Date of Order:15.11.2019) | 30 |
| 10 | Dharani Sugars and Chemicals Ltd. (Petitioner) Vs. Union of India & Ors. (Respondents) (Date of Order: 02-04-2019) | 36 |
| 11 | Forech India Ltd (Appellant (s)) Vs. Edelweiss Assets Reconstruction Co. Ltd (Respondent (s)) (Date of Order: 22.1.2019) | 40 |
| 12 | Jaipur Metals & Electricals Employees Organisation through General Secretary Mr. Tej Ram Meena (Appellant) Vs. Jaipur Metals & Electricals Ltd Through its Managing Director & Ors (Respondents) (Date of Order: 12-12-2018) | 43 |
| 2. Orders passed by High Courts | ||
| 1 | SSMP Industries Limited (Plaintiff) Vs. Perkan Food Processors Pvt. Ltd. (Defendant) (Date of Order: 18-07-2019) | 46 |
| 2 | Amira Pure Foods Private Limited (Petitioner) Vs. Canara Bank & Ors. (Respondents) (Date of Order: 20-05-2019) | 48 |
| 3 | Liberty House Group Pte Ltd (Paintiff) Vs. State Bank Of India & Ors. (Defendants) (Date of Order: 22-02-2019) | 50 |
| 4 | Cushman And Wakefield India Private Limited (Petitioner) Vs. Union of India & Anr. (Respondents) (Date of Order: 31-01-2019) | 54 |
| 5 | Mr. Ajay Kumar Bishnoi, Former MD, M/s. Tecpro Systems Ltd. (Petitioner) Vs. M/s. Tap Engineering (Respondent/ Complainant) (Date of Order: 09-01- 2020) | 57 |
| 3. Orders passed by National Company Law Appellate Tribunal | ||
| 1 | M/s Saregama India Limited. (Appellant) Vs. M/s Home Movie Makers Private Ltd. (Respondent/ Corporate Debtor) (Date of Order: 23-10-2019) | 61 |
| 2 | IDBI Bank Ltd. (Appellant/Financial Creditor) Vs. Mr. Anuj Jain (Interim Resolution Professional) Jaypee Infratech Ltd. & Anr. (Respondents/Corporate Debtor) AND Jaypee Greens Krescent Home Buyers Welfare Association & Ors. Vs. Jaypee Infratech Ltd. Through Mr. Anuj Jain, Interim Resolution Professional (Date of Order- 30-07-2019) | 63 |
| 3 | Export Import Bank of India (Appellant/Financial Creditor) Vs. CHL Limited (Respondent/Corporate Debtor) (Date of Order: 16-01-2019) | 67 |
| 4 | Ferro Alloys Corporation Ltd., (Appellant) Vs Rural Electrification Corporation Ltd., (Respondent) (Date of Order: 08-01-2019) | 69 |
| 5 | Gammon India Ltd. (Appellant) Vs. Neelkanth Mansions and Infrastructure Pvt. Ltd. (Respondent/ Corporate Debtor) (Date of Order: 19-12-2018) | 73 |
| 6 | Export-Import Bank of India & Anr. (Appellants/ Financial Creditor) Vs. Astonfield Solar (Gujarat) Pvt. Ltd & Anr. (Respondents/ Corporate Debtor) (Date of Order: 04-12-2018) | 75 |
| 7 | Varrsana Ispat Limited (Appellant) Vs. Deputy Director, Directorate of Enforcement (Respondent) (Date of Order: 02-05-2019) | 77 |
| 8 | Sunil Jain (Appellant) Vs. Punjab National Bank & Ors. (Respondents) (Date of Order: 24-04-2019) | 79 |
| 9 | Asset Reconstruction Company (India) Ltd. (Appellant) Vs. Unimark Remedies Ltd. (Through Resolution Professional) & Anr. (Respondents) (Date of Order: 23-10-2019) | 81 |
| 10 | Ashok B. Jiwrajka, Director of Alok Infrastructure Ltd.(Appellant) Vs. Axis Bank Ltd. (Respondent / Financial Creditor) (Date of Order: 16-01-2019) | 83 |
| 11 | Standard Chartered Bank (Appellant) Vs. Satish Kumar Gupta, RP of Essar Steel Ltd. & Ors. (Respondents) (Date of Order: 04-07-2019) | 84 |
| 12 | SKS Power Generation Chattisgarh Limited (Appellant/ Operational Creditor) Vs. Mr. V. Nagarajan, Resolution Professional in respect of M/s Cethar Limited. & Ors. (Respondents/ Corporate Debtor) (Date of Order: 14-12-2018) | 88 |
| 13 | Edelweiss Asset Reconstruction Company Limited (Appellant/ Financial Creditor) Vs. Synergies Dooray Automotive Ltd & Ors. (Respondents/ Corporate Debtor) (Date of Order: 14-12-2018) | 89 |
| 14 | Axis Bank Ltd. (Appellant) Vs. Anuj Jain, Resolution Professional for Jaypee Infratech Ltd. (Respondent) (Date of Order: 01-08-2019) | 97 |
| 15 | State Bank of India (Appellant) Vs. Moser Baer Karamchari Union & Anr. (Respondents) Date of Order : 19-08-2019) | 100 |
| 16 | Pr. Director General of Income Tax (Admn. & TPS). (Appellant) Vs. M/s. Synergies Dooray Automotive Ltd. & Ors.(Respondents) (Date of Order: 20-03-2019) | 102 |
| 4. Orders passed by National Company Law Tribunal | ||
| 1 | Apeejay Trust Vs. Aviva Life Insurance Co. India Ltd. (Date of Order: 04-11-2019) | 104 |
| 2 | In the matter of State Bank of India Vs. Jet Airways (India)Ltd. (Date of Order: 05-07-2019) | 106 |
| 3 | In the matter of Affinity Finance Services Pvt. Ltd. Vs. Kiev Finance Limited (Date of Order: 20-12- 2018) | 108 |
| 4 | In the matter of Edelweiss Asset Reconstruction Co. Ltd. Vs. AML Steel & Power Ltd. (Date of Order: 11- 12-2018) | 110 |
| 5 | In the matter of Andhra Bank Vs. Sterling Biotech Limited (Date of Order: 11-03-2019) | 112 |
| 6 | Essar Steel Asia Holdings Limited & Ors. Vs. Satish Kumar Gupta (RP of Essar Steel India Limited) (Date of Order: 29-01-2019) | 114 |
| 7 | Mr. Vasudevan Vs. State of Karnataka and others in the matter of M/s Tiffins Barytes Abestos & Paints Limited (Date of Order: 03-05-2019) | 116 |
| 8 | In the matter of Bharti Airtel Limited, Bharti Hexacon Limited Vs. Dishnet Wireless Limited (CP 302/2018) and Aircel Limited (CP 298/2018) (Date of Order: 01-05-2019) | 118 |
| 9 | In the matter of State Bank of India Vs. Ushdev International Limited (Date of Order: 07-11-2019) | 126 |
| 10 | The Regional Provident Fund Commissioner-I Vs. Karpagam Spinners Private Limited and Anr. (Date of Order: 21-01-2019) | 128 |
| 11 | In the matter of State Bank of India Vs. Videocon Group of Companies (Date of Order: 08-08-2019) | 130 |
| 12 | In the matter of Corporation Bank Vs. Amtek Auto Limited (Date of Order: 13-02-2019) | 134 |
| 13 | Pramod Kumar Sharma for & on behalf of Corporate Debtor Uniworld Sugars Private Limited Vs. IDBI Bank Limited (Date of Order: 31-01-2019) | 136 |
| 14 | Mr. S.S. Chockalingam Vs. Mr. CA. Mahalingam Suresh Kumar (Liquidator) in the matter of Nag Yang Shoes Pvt. Ltd. (Date of Order: 18-12-2018) | 138 |
| 15 | In the matter of M/s. Edelweiss Asset Reconstruction Company Ltd Vs. M/s. Bharti Defence and Infrastructure Ltd. (Date of Order: 26- 08-2019) | 140 |
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)