| 2020-TIOLCORP-02-SC-IBC Jaypee Infratech Ltd Vs Axis Bank Ltd Etc
Whether creditors having only security interest over the asset of corporate debtor by virtue of collateral security extended on behalf some third party cannot partake the character financial creditors defined u/s 5(7) since the debt will stand outside the sect of financial debt as contained u/s 5(8) - YES: SC
Whether transaction of mortgage created by the corporate debtor as collateral security in favour of its related party which is not in accordance with its ordinary course of business comes within the sweep of Preferential transaction u/s 43 of the IBC, 2016 & deserves to be avoided - YES: SC
- Appeals dismissed: SUPREME COURT OF INDIA
2020-TIOLCORP-28-NCLAT B Sudhakar Reddy Vs B Manipal Reddy
Whether where the investigation by the SFIO reveals that the company has not filed its annual returns since its inception, the NCLT is vested with the power to pass penalty order in the company petition filed for oppression & mismanagement - YES: NCLAT
Whether if the company is found to be not functioning as per the Companies Act from its inception, the NCLT is justified to dismiss the company petition filed for oppression & mismanagement - YES: NCLAT
- Appeal dismissed: NCLAT | 
