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The Supreme Court in Rakesh Bhanot Vs. M/S Gurdas Agro Pvt. Ltd. (Criminal Appeal No 1607/2025 ) held that Interim Moratorium under Section 96 does not stall criminal prosecution under Section 138 of the Negotiable Instrument Act, 1881.
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The Supreme Court reiterated in Bank of Baroda Vs Farooq Ali Khan Civil Appeal No. 2759/2025 held that when statutory tribunals are constituted to adjudicate and determine certain question of law and fact, the High Courts donot substitute themselves as the decision-making authority while exercising judicial review.
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The Supreme Court in Independent Sugar Corporations Ltd. Vs. Girish Sriram Juneja & Ors (Civil Appeal No. 6071 /2023) held that obtaining approval by Competition Commission of India prior to the approval of the resolution plan by the Committee of Creditors is mandatory in cases where there is provision for combination under the Resolution Plan. The objectives of the IBC and the Competition Act must necessarily be in harmony with one another. Expeditious resolution cannot come at the cost of disregarding statutory provisions
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The Supreme Court in Mohammed Enterprises (Tanzania) Ltd. Vs Farooq Ali Khan (Civil Appeal No. 48/2025) held that Insolvency and Bankruptcy Code, 2016 is a complete code in itself having sufficient checks and balances, remedial avenues and appeals.
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The NCLAT in State Tax Officer Vs Ricoh India Ltd Company Appeal (AT) Insolvency No 248 of 2020 held that Appellant having not taken any steps for agitating its claim before the Adjudicating Authority at the relevant time, it is not open for the Appellant to raise any grievance for non-allocation of any amount in the Resolution Plan.
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