Review dismissed in case of Vidarbha Industries Power – judgments and observations in judgments are not to be read as provisions of statute – Axis Bank Ltd. Vs. Vidarbha Industries Power Ltd. – Supreme Court

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High Court can entertain Writ Petition if IBBI’s order effects the work of an Insolvency Professional in its territorial jurisdiction – Partha Sarathy Sarkar Vs. Insolvency & Bankruptcy Board of India (IBBI) – Bombay High Court

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Section 33(2) of IBC clearly empowers the CoC to take the decision to liquidate the Corporate Debtor, any time after its constitution under Section 21(1) and before the confirmation of the resolution plan – Sandeep Kasare Vs. IL&FS Financial Services Ltd. – NCLAT New Delhi

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Rule 8(6)(f) of the Security Enforcement Rules protects the interest of the intending purchaser to be put on notice as to encumbrance as otherwise, he or she would be purchasing property, and simultaneously buying litigation as well, and the intending purchaser may not bid in the event, if he or she came to know any encumbrance over the property – Llovegeet Dhuria Vs. State Bank of India and Others – Punjab & Haryana High Court

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Permitting Successful Resolution Applicant to withdraw after the Plan has been approved will have serious disastrous effect on whole purpose and object of IBC – Shraddha Buildcon Pvt. Ltd. Vs. The Dhar Textile Mills Ltd. – NCLAT New Delhi

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M/s A.S. Nutratech Pvt. Ltd. Vs. Central Bank of India – Chhattisgarh High Court

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Important judgment on applicability of the threshold default limit of Rs. 1 crore under Section 4 of IBC – Hyline Mediconz Pvt. Ltd. Vs. Anandaloke Medical Centre Pvt. Ltd. – NCLAT New Delhi

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When the Adjudicating Authority allowed the application filed, the settlement Consent Terms were also taken record and the Financial Creditor was fully entitled to seek revival of the Section 7 petition in event of default of settlement consent terms – Pooja Finlease Ltd. Vs. Auto Needs (India) Pvt. Ltd. & Anr. – NCLAT New Delhi

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When judgment is delivered by the Adjudicating Authority in open court, period of limitation starts running and could not be prevented and Appellant can neither wait for free of cost certified copy and nor he is prevented from applying for certified copy of the order sought to be challenged in appeal – Gaurav Agarwal Vs. CA Devang P Sampat Liquidator of Maa Mahamaya Steels Pvt. Ltd. – NCLAT New Delhi

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As per the provisions of the Code, Operational Creditors who are not part of the CoC are not required to know the Liquidation Value – Rahul Khilnani Vs. Sh. Atul Kumar Jain Resolution Professional – NCLAT New Delhi

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