Top IBC Judgments – May 2025 | LegalWiki

Key Supreme Court and High Court Rulings in IBC Law

In May 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, Insolvency Plea, Penalties, time period of appeals .

Mumbai Court Discharges Dunar Foods from NSEL Scam Proceedings Under IBC Section 32A

Dunar Foods Ltd, an accused in the ₹120 crore National Spot Exchange Limited (NSEL) Scam, has been discharged from criminal proceedings under Section 32A of the Insolvency and Bankruptcy Code (IBC). Read More

IREDA Files Insolvency Plea Against Gensol Over ₹510 Cr Default Amid SEBI Probe

The Indian Renewable Energy Development Agency (IREDA) has filed an insolvency plea under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Gensol Engineering Ltd over a loan default exceeding ₹510 crore Read More

HP High Court: Winding-Up Cases Should Be Transferred to the NCLT if Revival Possible under IBC

The Himachal Pradesh High Court has held that winding-up petitions should be transferred to the NCLT under the Insolvency and Bankruptcy Code (IBC), 2016, unless the company's closure is inevitable or beyond revival.  Read More

IBC Resolution Plan Approval Bars Penalties Under Income Tax Act: Gujarat High Court

The Gujarat High Court ruled that once a resolution plan is approved under Section 31 of the Insolvency and Bankruptcy Code (IBC), 2016, penalty proceedings under Sections 270A, 271(1)(c), and 271AAC(1) of the Income Tax Act, 1961 cannot be initiated for claims not included in the plan   Read More

Supreme Court Rules on Strict 45-Day Limit for Appeals under IBC

The Supreme Court ruled that the National Company Law Appellate Tribunal (NCLAT) cannot accept appeals filed beyond 45 days under Section 61(2) of the Insolvency and Bankruptcy Code (IBC), 2016.  Read More

Supreme Court Rejects JSW Steel’s ₹19,700 Cr Resolution Plan for Bhushan Power; Orders Liquidation

The Supreme Court rejected the resolution plan submitted by JSW Steel Ltd for Bhushan Steel and Power Ltd (BSPL), calling it illegal and in violation of the IBC, and ordered the liquidation of BSPL under Section 33(1). Read More

Employees Provident Fund Dues Not Extinguished by Resolution Plan Under IBC: Bombay High Court

The Bombay HC ruled that provident fund dues, including the employer's contribution, do not form part of a corporate debtor's assets under the IBC and cannot be wiped out by a resolution plan. Read More

United Breweries Faces Insolvency Plea Over ₹2.64 Crore Logistics Dues

Balurghat Technologies has filed an insolvency petition against United Breweries (UB) in the NCLT, Bengaluru, over an alleged default of ₹2.64 crore, including ₹1.62 crore in unpaid principal. Read More

NCLT Dismisses Insolvency Plea Against Dunzo by Invoice Discounters

The National Company Law Tribunal (NCLT), Bengaluru, has dismissed an insolvency petition filed against Dunzo by its invoice discounters, ruling the plea as not maintainable.Read More

IBBI Amends Insolvency Rules Allowing Same Professional for Corporate Debtor and Personal Guarantor

The Insolvency and Bankruptcy Board of India (IBBI) has amended the regulations for the insolvency resolution of personal guarantors to corporate debtors, effective May 19, 2025. Read More

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