Supreme Court on IBC

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.

The NCLAT in D. D. International Pvt. Ltd. Vs. Rajesh Kumar Agarwal, Liquidator; Company Appeal (AT) (Insolvency) No. 1559 of 2023 held that the first duty is cast on the Liquidator to provide exact information to the bidder about the property which is put to sale.

The National Company  Law Appellate Tribunal (NCLAT)  in Shikshak Sahakari Bank Ltd. Vs. Mr. Jagdish Kumar Parulkar, Liquidator held that Liquidator is entitled to a fee under Regulation 4 (2) (b) only when he has actually realized or distributed any amount is not tenable in light of Regulation 21 A of IBBI (Liquidation Process) Regulations, 2016.

The Supreme Court in China Development Bank Vs Doha Bank Q.P.S.C. (Civil Appeal No. 7298/2022) held that held that that