Supreme Court Judgments on IBC

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Case Reference Case Citation : 19/2019(IBC)19 Case Name : M/s Embassy Property Developments Pvt. Ltd. Vs. State of Karnataka & Ors. Appeal No. : Civil Appeal No. 9170, 1971, 1972 of 2019(Special Leave Petition (C) No. 22596,  22684, 22724 of 2019) Appellant(s) : M/s Embassy Property Developments Pvt. Ltd. Respondent(s) : State of Karnataka & Ors. Date of Judgment : 03-Dec-19 Court : Supreme Court of India Justice : Justice R.F. Nariman Justice : Justice Aniruddha Bose Justice : Justice V. Ramasubramanian Brief facts A company by name M/s. Udhyaman Investments Pvt. Ltd. which is claiming to be a Financial Creditor, moved an application before the NCLT Chennai, u/s 7 of the Code against M/s. Tiffins Barytes Asbestos & Paints Ltd., the Corporate Debtor. By an Order dated 12.03.2018, NCLT Chennai admitted the application, ordered the commencement of the CIRP and appointed an IRP. Consequently, a Moratorium was also declared continue reading
Case Reference Case Citation : WP(C)-1074/2019 Case Name : Hindustan Construction Company Limited & Anr. Vs. Union of India & Ors. Appeal No. : Writ Petition (Civil) No. 1074 Of 2019, Writ Petition (Civil) No.1276 Of 2019, Writ Petition (Civil) No.1310 Of 2019, M.A. Nos.2140-2144 Of 2019, Civil Appeal Nos. 2621-2625 Of 2019 Appellant(s) : Hindustan Construction Company Limited & Anr. Respondent(s) : Union of India & Ors. Date of Judgment : 27-Nov-19 Court : Supreme Court of India Justice : Justice R.F. Nariman Justice : Justice Surya Kant Justice : Justice V. Ramasubramanian Full text of the judgment J U D G M E N T  R.F. NARIMAN, J. 1. This set of Writ Petitions seek to challenge the constitutional validity of Section 87 of the Arbitration and Conciliation Act, 1996 (hereinafter referred continue reading
Summary  of judgment of the Hon’ble Supreme Court in the matter of Committee of Creditors of Essar Steel India Limited Vs. Satish Kumar Gupta & Ors. dated 15.11.2019 -SC See full case laws, click here. Summary of the judgment:  
Case Reference Case Citation : CA-8766-67/2019-SC Case Name : Committee of Creditors of Essar Steel India Limited Through Authorised Signatory Vs. Satish Kumar Gupta & Ors. Appeal No. : Civil Appeal No. 8766-67 Of 2019. Diary No.24417 Of 2019 Appellant(s) : Committee of Creditors of Essar Steel India Limited Through Authorised Signatory Respondent(s) : Satish Kumar Gupta & Ors. Date of Judgment : 15-Nov-19 Court : Supreme Court of India Justice : Justice R.F. Nariman Justice : Justice Surya Kant Justice : Justice V. Ramasubramanian Outcomes from the decision, click here:  Full text of the judgement J U D G M E N T R.F. Nariman, J.Delay Condoned in Civil Appeal Diary No. 31409 of 2019 and Civil Appeal Diary No. 36838 of 2019. I.A. No. 102638 of 2019 in Civil Appeal Diary No. continue reading
Case Reference Case Name : Jaiprakash Associates Ltd & Anr. Vs. IDBI Bank Ltd. & Anr. Appeal : Civil Appeal No. 6486 Of 2019 (D. No.27229/2019) Appellant(s) : Jaiprakash Associates Ltd & Anr. Respondent(s) : IDBI Bank Ltd. & Anr. Date of Judgment : 06-Nov-19 Tribunal/Court : Supreme Court of India Full text of the judgment O R D E R 1. Permission to file the appeal is granted in Diary No.27229/2019. 2. These appeals emanate from the Corporate Insolvency Resolution Process (‘CIRP’ for short) concerning Jaypee Infratech Ltd. (‘JIL’ for short) wherein the National Company Law Appellate Tribunal, New Delhi (‘NCLAT’ for short) disposed of Company No.708 of 2019 and applications therein by a common judgment and order dated 30th July, 2019. By this judgment, the NCLAT granted relief as sought for by the IDBI Bank to continue reading
Case Reference Case Name : Jignesh Shah & Anr Vs Union of India & Anr Appeal : Civil Appeal No. 455 Of 2019 Appellant : Jignesh Shah & Anr Respondent  : Union of India & Anr Judgement Date : 25-Sep-19 Court/Bench : Supreme Court Brief about the decision: On 20th August, 2009, a share purchase agreement was executed between  MCX and IL&FS , whereby IL&FS agreed to purchase of 442 lakh equity shares of MCX-SX from MCX. La-Fin as a group company of MCX issued a letter of undertaking to IL&FS on 20th August, 2009 to repurchase the shares of MCX-SX after a period of one year but before the a period of 3 years from the date of investment. continue reading
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