Landmark Supreme Court of India rulings, explained in clear, plain language.
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What evidence is needed to prove debt default for insolvency admission under IBC?
Deepak Raheja and Another vs Omkara Assets Reconstruction Private Ltd. and Another
The Supreme Court dismissed appeals against CIRP admission, holding that default under Section 7 IBC requires only a prima facie summary showing, not a full reconciliation of accounts, and that Information Utility records carry presumptive evidentiary weight.
When does the 60-day IBC appeal limitation period begin to run?
The Assistant Commissioner of Central Tax, CGST Division vs Sreenivasa Rao Ravinuthala and Another
The Supreme Court dismissed the Central Tax department's IBC appeal as barred by limitation, holding that the 60-day outer limit under Section 62 runs from the date of NCLAT's order pronouncement, not from collection of certified copy.
Can SRA sue Operational Creditor on same contract after CIRP extinguished OC's claim?
Modern Asset vs KNK Construction Private Limited
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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