From IBC to motor accident claim payment, here are key court orders

The Supreme Court has blamed the Orissa High Court for reducing the compensation granted to the claimants in a fatal motor accident without giving a reason for doing so

IBC not meant to recover dues
 

The Insolvency and Bankruptcy Code cannot be invoked when there is a dispute over dues and the IBC machinery cannot be made a substitute to a recovery forum, the Supreme Court stated last week while setting aside an order of the National Company Law Appellate Tribunal, New Delhi, in the case, Transmission Corporation of Andhra Pradesh vs Equipment Conductors & Cables. The Supreme Court stated that in this case, the tribunal presumed that the Transmission Corporation, a state undertaking, owed money to the opposite party. The tribunal, therefore, warned the corporation to settle the