The Supreme Court of India today (27th Sept) ruled that a free certified copy of an NCLT order suffices for filing an appeal to the NCLAT, overturning a prior NCLAT decision. The Court clarified there’s no distinction between free and paid certified copies, emphasizing that a three-day delay in appeal was within acceptable limits.
Today(on 23rd July), Finance Minister Nirmala Sitharaman announced plans to revise the Insolvency and Bankruptcy Code (IBC) to strengthen NCLT tribunals and improve asset recovery. The changes aim to enhance the efficiency of handling stressed assets. Additional tribunals for the NCLT and an integrated technology platform are part of the proposed reforms.
The Supreme Court ruling ensures no coercive action by banks or builders against NCR home buyers for EMI payments. Home buyers, affected by illegal loan disbursements, sought relief after the Delhi High Court dismissed their petitions. The decision is expected to impact the NCR’s real estate landscape and reflects the judiciary’s concern for home buyers.
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Today, 19th April, The Supreme Court ruled that special courts led by sessions judges have the authority to try offenses under the Insolvency and Bankruptcy Code (IBC), contradicting the Bombay High Court’s interpretation. This broadens the scope of courts eligible to handle IBC cases. The ruling resulted from a Division Bench decision, sending the case back to the High Court for a new verdict.