Top Supreme Court IBC Judgments – April 2025 | LegalWiki
Key Supreme Court and High Court Rulings in IBC Law
In April 2025, the Supreme Court and various High Courts across India delivered important judgments shaping the landscape of IBC law. These decisions addressed issues such as Liquidation, Insolvency Plea, cheque dishonour and liquidation.
NCLT Bangalore Defers Order on Dunzo Insolvency Plea for Third Time
The NCLT, Bangalore, has once again deferred its order on the insolvency petition against Dunzo, citing time constraints, despite multiple listings. As per the IBC, the NCLT must admit or reject the insolvency petition within 14 days of filing, but in Surendra Trading Co. v. Juggilal Kamalpat, the Supreme Court held this timeline to be directory, not mandatory, allowing the NCLT some discretion in adhering to it. Read More
Delhi HC Appoints Receiver for 95 EVS Leased to Gensol, Blusmart
The Delhi HC appointed a receiver to take symbolic control of 95 Tata Xpress Electric Vehicles leased by Clime Finance to Gensol and Bluemart, with the condition that the vehicles should not be moved from their current location. This action followed SEBI’s ban on Gensol’s promoters from the stock market due to allegations of fund misuse and mismanagement. Read more
Calcutta High Court, FEMA Proceedings cannot be continued during the IBC Liquidation Moratorium Period
The Calcutta High Court has held that once liquidation is initiated under Section 33(5) of the IBC, proceedings under the FEMA cannot continue. The ruling came in a case involving Shree Ganesh Jewellery House (I) Pvt. Ltd., where the Court quashed FEMA notices issued under Section 37A, citing the overriding effect of IBC through Section 238. Read More
NCLAT Upholds Go First Airways Liquidation, Appeals Dismissed
The National Company Law Appellate Tribunal (NCLAT) has upheld the NCLT's January 20, 2025, decision to liquidate Go First Airways, dismissing appeals from Busy Bee Airways and others. Read More
Ola Electric Settle Dispute as Rosmerta Withdraws Insolvency Petitions from NCLT
Ola Electric has settled financial disputes with Rosmerta Safety System Ltd and Rosmerta Digital Services Ltd, leading to the withdrawal of insolvency petitions filed against it at the NCLT in Bengaluru under Section 9 of the IBC. Read More
Coffee Day Enterprises Settles Rs. 205 cr Debt After NCLAT Ruling
The NCLAT quashed insolvency proceedings against Coffee Day Enterprises Ltd.(CDEL), overturning the NCLT’s order filed by IDBI Trusteeship Limited (ITSL). Following this, Coffee Dat share hit a 20 % upper circuit. Read More
IBBI Mandates Disclosure of Carry-Forward Losses for Resolution Professional
The Insolvency and Bankruptcy Board of India (IBBI) has issued a circular requiring insolvency professionals to include a dedicated section in the information Memorandum (IM) detailing the carry forward of Losses under the Income Tax Act, 1961. Read More
No Insolvency Proceedings If Debt Settled After Demand Notice: NCLAT
The National Company Law Appellate Tribunal (NCLAT) has ruled that insolvency proceedings under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, cannot be initiated if the corporate Debtor has settled the debt after receiving a demand notice under Section 8 of the Code. Read More
Karnataka High Court Upholds Micro Loan & Small Loan Ordinance, 2025
The Karnataka High Court has upheld the validity of the Karnataka Micro Loan and Small Loan Ordinance, 2025, ruling that motor vehicle and asset financing businesses are exempt from its purview. Read More
Cause Of Action for Cheque Dishonour U/S 138 Arises Only After 15 Days of Demand Notice Receipt, SC
The Supreme Court ruled that the offence under Section 138 of the NI Act arises only when the drawer fails to pay within 15 days of receiving the demand notice, not upon dishonour of the cheque. Read More
Zomato Faces Insolvency Plea over Rs 1.64 Crore Dues for Delivery Uniforms
Nona Lifestyle, a B2B apparel manufacturer, has moved the NCLT against Zomato, alleging non-payment of ₹ 1,64,83,194 for the delivery of uniforms and World Cup merchandise. Read More
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