There is no bar contained in any of the provisions of the IBC restraining the complainant to approach the criminal court to seek penal action under Section 138 of the Negotiable Instruments Act, 1881 (NI Act) – Ajay Vasant Tikekar Vs. Geelon Industries Pvt. Ltd. – Gujarat High Court

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If claim lodged during CIRP was rejected for want of sufficient proof and during the liquidation, no claim was lodged by GST Department, Purchaser in liquidation process is entitled to a clean slate and not responsible to pay any due amount to the Government – KRBL Ltd. Vs. State of Gujarat – Gujarat High Court

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Interim Moratorium under Section 96 of IBC cannot be extended to the proceedings with respect to a borrower, who has been declared as a Wilful Defaulter – Jagdish Prasad Saboo Vs. IDBI Bank Ltd. – Gujarat High Court

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The residuary jurisdiction of NCLT under Section 60(5)(c) of the IBC provides a wide discretion to adjudicate questions of law or fact arising from or in relation to the insolvency resolution proceedings – Biotor Industries Ltd. (In Liquidation) Represented By Liquidator Mr. Sanjay Kumar Agarwal Vs. Gujarat Industrial Development Corporation – Gujarat High Court

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If PMLA authorities are given a free hand to pass orders of attachment of properties which were acquired by a successful bidder in a liquidation process, could be contrary to the interest of value maximization of the corporate debtor’s assets by substantially reducing the chances of finding a willing resolution applicant/bidder in liquidation – Welspun Steel Resources Pvt. Ltd. Vs. Union of India – Gujarat High Court

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