AL Insights – April 2025

The Supreme Court in the case of Union of India v. Shantanu Sanjay Hundekari & Anr., has upheld the decision of the Bombay High Court and ruled that penalty should not be imposed on a mere employee of the Company under section 122(1A) and section 137 of the CGST Act.

The Supreme Court in the case of Radhika Agarwal v. Union of India has rejected the challenge to the constitutional validity of arrest provisions under the Customs Act, 1962 and Central Goods and Services Act, 2017. The Court has upheld the right of the authorized officers to arrest under the Customs Act and the GST Act.

The Insolvency and Bankruptcy Board of India (“IBBI”) has notified amendments to IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (“the Amendment”). The Amendment seeks to further streamline the corporate insolvency resolution process with a special focus on real estate projects.

The Insolvency and Bankruptcy Board of India(“IBBI”) released a discussion paper on its proposal to streamline the Corporate Insolvency Resolution Process, the liquidation process as well as the insolvency resolution and bankruptcy process for personal guarantors. 

The Supreme Court in the case of Independent Sugar Corporation Limited v. Girish Sriram Juneja, held that a resolution plan which has a provision of a proposed combination shall obtain the approval of the CCI before the approval of the Committee of Creditors under proviso of Section 31(4) of the Insolvency and Bankruptcy Code, 2016.

The National Company Appellate Tribunal in the case of Bombay Stock Exchange Ltd. v. Mrudula Brodie and Ors., has clarified that the condonable period of 15-days as prescribed under Rule 3 of NCLAT Rules cannot be extended if the 15-day falls on a day when NCLT is not in session.