Latest Supreme Court Judgments

Landmark Supreme Court of India rulings, explained in clear, plain language.

Showing 2 of 2 judgments

Can CoC withdraw an approved Resolution Plan citing improved Corporate Debtor finances?

CoC Cannot Withdraw Approved Resolution Plan Once Placed Before NCLT

Bank of India & Ors. vs S.M. Kamal Pasha & Ors.

Insolvency and Bankruptcy Law / Corporate Resolution Verified

The Supreme Court held that a Committee of Creditors cannot withdraw its approval of a Resolution Plan once it is placed before the Adjudicating Authority, even citing the Corporate Debtor's improved financial position.

Can SRA sue Operational Creditor on same contract after CIRP extinguished OC's claim?

Operational Creditor Allowed Set-Off Against SRA's Arbitration Claim After CIRP Haircut

Modern Asset vs KNK Construction Private Limited

Insolvency and Bankruptcy / Arbitration

The Supreme Court upheld the arbitration appointment for the SRA's claim but directed that the Operational Creditor may raise a counterclaim solely for set-off, without any positive recovery, to ensure equity within the clean slate framework of the IBC.

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