Hon’ble Supreme Court says that there is no reason to continue the sealing of premises by the Municipal Corporation of Delhi If they were actually sold as shops. M.c.Mehta V. Union of India, Writ Petitions (Civil) No.4677/1985. Hon’ble Supreme Court held that if a corporate debtor has only offered security by pledging shares, without undertaking to discharge the borrower’s liability, then the creditor in such a case will not become financial creditor as defined under the Insolvency and Bankruptcy Code. The Court also held that such a creditor could be a secured creditor but will not be a financial creditor under the IBC entitled to take part in the insolvency resolution process. Phoenix Arc Pvt Ltd V. Ketulbhai Ramubhai Patel, Civil Appeal No. 5146 of 2019.

Hon’ble Supreme Court says that the deprivation of property right can only be in accordance with the procedure established by law. Bajranga (D) by LRS V. State of M.P., 2021 SCC Online SC 27. Hon’ble Supreme Court says that a High Court while exercising bail jurisdiction, cannot issue directions which have a direct bearing upon the Trial. Prasant Dagajirao Patil V. Vaibhab @ Sonu Arun Pawar, Crl.Appeal No. 55-56/2021.

Hon’ble Supreme Court held the threshold limit on homebuyer introduced by way of insolvency and Bankruptcy Code (Amendment) Act 2020 as an attempt to slide the corporate debtors (builder) from available and frivolous applications. Manish Kumar V. Union of India & Others, 2021 SCC Online SC 30.

Hon’ble Supreme Court held that the ground that allegations of fraud are not arbitrable is a wholly archaic view, which has become obsolete, and deserves to be discarded. The bench says that while holding that the allegations for fraud with respect to the invocation of the Bank Guarantee are arbitrable, since it arises out of disputes between parties inter se, and is not in the realm of public law. N.N. Global Merchantile Pvt. Ltd V. India Unique Flame Ltd., 2021 SCC Online SC 13.