LiveLawBiz IBC Monthly Digest: July 2026

SUPREME COURT Supreme Court Likens AI Hallucinations To Gas Behind Bhopal Gas Tragedy, Sets Aside CIRP Orders Over Fake Case Law Case Title : POOJA RAMESH SINGH Versus JAMMU AND KASHMIR BANK LTD AND ANR. Case Number : C.A. No. 11950/2025 Comparing fake AI-generated legal material to the release of methyl isocyanate (the gas behind…

Panel makes dedicated IBC benches at NCLT mandatory

The Joint Committee of Parliament on the Corporate Laws (Amendment) Bill, 2026 has recommended that dedicated IBC benches at the National Company Law Tribunal (NCLT) for insolvency cases be constituted as a binding statutory obligation rather than left to administrative discretion, and has doubled the monetary threshold for summary liquidation to Rs 2 crore. In…