The ICAI has released a publication/compilation of 79 ‘Judicial Pronouncements’/’Case Laws (Series-1)’ under the ‘Insolvency and Bankruptcy Code (IBC) 2016’.
This compilation includes the Orders issued by the Hon’ble Supreme Court (SC) of India, various High Courts (HC), National Company Law Appellate Tribunal (NCLAT), and National Company Law Tribunal (NCLT).
As more corporations are admitted into the resolution process under the ‘Insolvency and Bankruptcy Code (IBC) 2016’, the Code is evolving to address emerging implementation issues.
The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018, is the most recent step in this direction.
The ICAI and IIIP have collaborated to bring out the first series of the publication titled “Judicial Pronouncements under the IBC 2016” to assist professionals in gaining a clear understanding of the subject.
ICAI Publication on Case Laws/ Judicial Pronouncements (Series 1) under IBC 2016 (August 2018)
| S.No. | Case | PageNo. |
| 1. Orders passed by Supreme Court of India | ||
| 1 | Chitra Sharma & Others Vs Union of India & Others | 1-3 |
| 2 | Neelkanth Township and Construction Private Ltd. and Financial Creditor Vs. Urban Infrastructure Trustees Ltd. (Corporate Debtor) | 3-6 |
| 3 | Macquarie Bank Technologies Ltd. | 6-9 |
| 4 | Mobilox Innovations Private Limited (Corporate Debtor) Vs Kirusa Software Private Limited (Operational Creditor) | 9-14 |
| 5 | Surendra Trading Company Vs Juggilal Kamlapat Jute Mills Company Limited and Others | 15-16 |
| 6 | Alchemist Asset Reconstruction Company Ltd (Financial Creditor) Vs Hotel Gaudavan Private Ltd. (Corporate Debtor) | 16-18 |
| 7 | Innoventive Industries Ltd. (Corporate Debtor) Vs ICICI Bank & Another (Financial Creditor) | 18-26 |
| 8 | Lokhandwala Kataria Construction Private Ltd.(Corporate Debtor) Vs Nisus Finance & Investment Manager LLP (Financial Creditor). | 27-28 |
| 9 | Shivam Water Treaters Private Ltd. Vs Union of India | 28-28 |
| 2. Orders passed by High Courts | ||
| 1 | Sree Metaliks Limited and Another (Corporate Debtor) Vs Union of India & Another | 29-31 |
| 2 | Essar Steel India Limited & Another Vs Reserve Bank of India & Others | 32-37 |
| 3 | Akshay Jhunjhunwala & Another Vs Union of India through MCA & Others | 37-38 |
| 4 | Power Grid Corporation of India Ltd Vs Jyoti Structures Ltd. | 38-39 |
| 3. Orders passed by National Company Law Appellate Tribunal | ||
| 1 | Gurcharan Singh Soni & Kuldeep Kaur Soni Vs Unitech Ltd. | 40-40 |
| 2 | Palogix Infrastructure Private Limited (Corporate Debtor) Vs ICICI Bank Limited (Financial Creditor) | 41-44 |
| 3 | S3 Electrical & Electronics Private Ltd. (Corporate Debtor) Vs Brian Lau (Financial Creditor) | 45-46 |
| 4 | Mack Soft Tech Private Ltd. Vs Quinn Logist | 46-52 |
| 5 | Bharti Defence and Infrastructure Limited Vs Edelweiss Asset Reconstruction Company Limited | 53-55 |
| 6 | Ravi Mahajan Vs Sunrise Denmark A/S, Denmark | 55-56 |
| 7 | Nikhil Mehta and Sons HUF Vs Amr infrastructure Ltd. | 57-59 |
| 8 | PEC Ltd (Financial Creditor) Vs Sree Ramkrishna Alloys Ltd (Corporate Debtor) | 59-62 |
| 9 | Senthil Kumar Karmegam Vs Dolphin Offshore Enterprises (Mauritius) Private Ltd. | 62-63 |
| 10 | JK Jute Mills Company Limited Vs Surendra Trading Company Limited | 64-66 |
| 11 | Kirusa Software Private Ltd. (Operational Creditor) Vs Mobilox Innovations Private Ltd. (Corporate Debtor) | 66-71 |
| 12 | Black Pearl Hotels Private Ltd. (Operational Creditor) Vs Planet M Retail Ltd. (Corporate Debtor) | 71-72 |
| 13 | Ksheeraabad Constructions Private Ltd. (Corporate Debtor) Vs Vijay Nirman Company Private Ltd. (Operational Creditor) | 72-74 |
| 14 | Shriram EPC Limited (Corporate Debtor) Vs Rio Glass Solar SA (Operational Creditor) | 74-76 |
| 15 | Sobha Limited Vs Pancard Clubs Ltd | 76-77 |
| 16 | Philips India Ltd. Vs Goodwill Hospital & Research Centre Ltd. And Karina Healthcare Private Ltd. | 78-78 |
| 17 | Ganesh Sponge Private Ltd. (Corporate Debtor) Vs Aryan Mining & Trading Corporation Private Ltd. (Operational Creditor) | 79-80 |
| 18 | Labdhi Enterprises (Operational Creditor) Vs Baramati Agro Private Limited (Corporate Debtor) | 81-82 |
| 19 | Paramjeet Singh (Corporate Debtor) Vs Maxim Tubes Company Private Ltd (Operational Creditor) | 82-83 |
| 20 | Siddharth Nahata Director/ Shareholder of Tryst Industries Private Limited (Corporate Debtor) Vs Billets Elektro Werke Private Ltd. (Operational Creditor) | 83-84 |
| 21 | MCL Global Steel Private Ltd. & Another (Corporate Debtor) Vs Essar Projects India Ltd. & Another (Operational Creditor) | 85-86 |
| 22 | Annapurna Infrastructure Private Ltd. (Operational Creditor) Vs Soril Infra Resources Ltd. (Corporate Debtor) | 86-89 |
| 23 | Achenbach Buschhutten GMBH & Company Vs Arcotech Limited | 89-91 |
| 24 | Raj Hari Eswaran Vs CMI India Private Limited & Another | 91-93 |
| 25 | Paharpur Cooling Towers Limited Vs Ankit Metal & Power Limited | 93-95 |
| 26 | Antrix Diamond Exports Private Ltd (Corporate Debtor) Vs Bank of India & Others (Financial Creditor) | 95-97 |
| 27 | Unigreen Global Private Limited (Corporate Debtor) Vs Punjab National Bank and others (Financial Creditors) | 98-100 |
| 28 | Ameya Laboratories Limited Vs Kotak Mahindra Bank, IDBI Bank Ltd. Asset Reconstruction Company (India) Limited | 100-102 |
| 29 | Alpha & Omega Diagnostics (India) Ltd. (Corporate Debtor) Vs Asset Reconstruction Co of India Ltd. | 102-103 |
| 30 | Schweitzer Systemtek India Private Ltd. Vs Phoenix ARC Private Limited | 103-104 |
| 31 | Quinn Logistics India Private Limited Vs Mack Soft Tech Private Limited | 105-107 |
| 32 | Quantum Limited (Corporate Debtor) Vs Indus Finance Corporation Limited | 107-109 |
| 33 | State Bank of India (Financial Creditor) Vs V Ramakrishnan (Director of Corporate Debtor) and Veesons Energy Systems Private Ltd. (Corporate Debtor) | 110-112 |
| 34 | Dakshin Gujarat VIJ Company Ltd. (Petitioner) Vs ABG Shipyard Ltd. & Another | 112-113 |
| 35 | Innoventive Industries Ltd. (Corporate Debtor) Vs ICICI Bank & Another (Financial Creditor) | 114-121 |
| 36 | Starlog Enterprises Ltd. (Corporate Debtor) Vs ICICI Bank Ltd. (Financial Creditor) | 121-123 |
| 4. Orders passed by National Company Law Tribunal | ||
| 1 | Edelweiss Asset Reconstruction Co. Ltd. Vs Murli Industries Ltd. | 124-125 |
| 2 | Hero FinCorp Ltd. Vs Steel Konnect (India) Pvt. Ltd. | 125-126 |
| 3 | State Bank of India and Standard Chartered Bank Vs Essar Steels Ltd. and Essar Steels India Ltd. | 126-133 |
| 4 | Edelweiss Asset Reconstruction Co. Ltd Vs Kalptaru Alloys Private Limited | 133-134 |
| 5 | ICICI Bank Ltd Vs Innoventive Industries Ltd | 134-136 |
| 6 | Bank of Baroda Vs Rotomac Global Pvt. Ltd and Rotomac Exports Pvt Ltd | 136-137 |
| 7 | Alchemist Asset Reconstruction Co. Limited Vs Moser Baer India Limited | 138-138 |
| 8 | Punjab National Bank Vs Rishi Ganga Power Corporation Limited. | 139-140 |
| 9 | Parker Hannifin India Private Ltd. Vs Prowess International (P) Ltd. | 140-141 |
| 10 | Prideco Commercial Projects Private Ltd. Vs Era Infra Engineering Ltd. | 141-142 |
| 11 | Ashok Alco-Chem Ltd Vs Unimark Remedies Ltd. | 142-143 |
| 12 | Sanjaya Kumar Ruia Vs Magna Opus Hospitality Private Ltd. | 144-145 |
| 13 | Alcon Laboratories (India) Private Ltd. Vs Vasan Health Care Private Ltd. | 145-147 |
| 14 | Nowfloats Technologies Private Ltd. Vs GetitInfo services Private Ltd. | 148-149 |
| 15 | Macquarie Bank Ltd. Vs Shilpi Cable Technologies Ltd | 149-151 |
| 16 | Annapurna Infrastructure Private Ltd Vs Soril Infra Resources Ltd | 151-152 |
| 17 | Macquarie Bank Limited Vs Uttam Galva Metallics Limited | 152-154 |
| 18 | Mahendra Trading Co Vs Hindustan Controls & Equipments (Private) Limited | 154-156 |
| 19 | Incredible Unique Buildcon Private Ltd. Vs Clutch Auto Ltd. | 157-158 |
| 20 | Sky Blue Papers Private Ltd. (Corporate Applicant) | 158-159 |
| 21 | Union Bank of India Vs Raman Ispat Pvt. Ltd. | 159-160 |
| 22 | Schweitzer Systemtek India Private Limited Vs Phoenix ARC Private Limited | 160-162 |
| 23 | Punjab National Bank & others Vs Unigreen Global Private Ltd. | 162-164 |
| 24 | Alpha & Omega Diagnostics (India) Ltd Vs Asset Reconstruction Co of India Ltd | 164-165 |
| 25 | Bank of Baroda Vs Binani Cement Ltd | 165-172 |
| 26 | Corporation Bank Vs Amtek Auto Ltd | 172-173 |
| 27 | Punjab National Bank Vs Bhushan Power & Steel Ltd | 174-177 |
| 28 | Standard Chartered Bank and State Bank of India Vs Essar Steel India Ltd (Numetal Limited, Arcellor Mittal India Pvt Ltd) | 177-181 |
| 29 | Anshuman Chaturvedi, RP (Applicant) | 181-182 |
| 30 | Punjab National Bank Vs Siddhi Vinayak Logistic Ltd | 182-186 |
Related Posts:
ICAI Publication on ‘IBC 2016 Judicial Pronouncements’ (Series 4)
ICAI’s Compilation of ‘Case Laws’ under ‘IBC 2016’ (Series 3)
ICAI’s Compilation of ‘Case Laws’ under ‘IBC 2016’ (Series 2)
ICAI’s Compilation of ‘Case Laws’ under ‘IBC 2016’ (Series 1)
I am preparing for limited insolvency exam. The material is useful to me.