Topic
ICICI Bank is a private sector bank headquartered in Mumbai.
5 storiesLatest 16 Aug 2026, 12:22 ISTOfficial website
Courts/
Innoventive Industries (2018) 1 SCC 407 fixed the IBC Section 7 test: prove a default and the NCLT must admit. The narrow defences a borrower actually keeps, and the 14-day clock.
Enforcement
The Bombay High Court on 8 May 2026 granted an interim stay of the ED's Rs 74.54 crore PMLA attachment of NuPower Renewables assets, which the appellate tribunal had upheld in July 2025.
Courts
On 31 August 2017 the Supreme Court gave the IBC its first authoritative reading in Innoventive v ICICI Bank: proof of default alone triggers Section 7, disputes are immaterial, and Section 238 overrides state law.
Courts
In (2018) 1 SCC 407, decided 31 August 2017, the Supreme Court held Section 238 of the IBC overrides the Maharashtra Relief Undertakings Act 1958, so a state moratorium cannot bar a Section 7 CIRP filing.
Courts
The Supreme Court in Prakash Kaur (2007) held banks cannot send recovery agents to seize your car by force. Here is the lawful SARFAESI route and every defence a borrower has.
