Case-Law and Precedent Register
The landmark Supreme Court/NCLAT rulings that have shaped how the Code's provisions are actually applied.
Essar Steel (2019)
Settled that operational creditors are not entitled to equal treatment with financial creditors in a resolution plan (only a defined minimum), that the CoC's commercial wisdom on plan approval is not justiciable on merits, and clarified the mandatory nature of the (then) 330-day timeline.
K. Sashidhar (2019)
Reinforced that NCLT/NCLAT cannot sit in appeal over the CoC's commercial decision to reject a resolution plan, even by a bare majority below the approval threshold — judicial review is confined to process legality, not commercial merit.
Swiss Ribbons (2019)
Upheld the constitutional validity of the Code's core architecture, including the financial/operational creditor classification and the moratorium provisions, against challenges that they were arbitrary or violated equal treatment.
Lalit Kumar Jain (2021)
Validated the notification bringing personal guarantors within the Code and confirmed guarantor liability is independent of the corporate debtor's resolution outcome — the key personal-guarantor precedent, discussed further in the Personal Guarantor Practice Master.
Monitoring this register
IBC jurisprudence is still actively developing (particularly on Section 32A immunity for the resolution applicant, avoidance-transaction standards, and PPIRP's early implementation) — treat this as a living register requiring periodic recheck against current NCLAT/Supreme Court rulings, not a closed list.