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Company Law - This article focusses on the development and current position of the legal proposition of withdrawal of the winding up petition under the 3 phases of Company Law in India- the Companies Act,1956; Companies Act,2013 and the Insolvency and Bankruptcy Code,2016, along with what the Supreme Court of India recently held on the constitutionalit...
Read MoreCompany Law - The early harvest through the IBC process has been extremely satisfactory. It has changed the debtor - creditor relationship. The creditor no longer chases the debtor. In fact, it is otherwise. Upon constitution of the NCLT and the implementation of IBC its functionality had revealed the need for improvements in the law. Two legislat...
Read MoreCompany Law - Can Corporate Insolvency Resolution Process be initiated against a company which has been struck off under Section 248 of the Companies Act, 2013?...
Read MoreCompany Law - The provisions dealing with the liquidation of corporate persons are imbibed in the chapter III of the part II of the Insolvency and Bankruptcy code....
Read MoreCompany Law - Article explains following 4 FAQs based on recent NCLT Rulings- 1. Whether Pendency of Proceedings or initiation of action under SARFAESI Act is a ground for rejection of application u/s 7 of IBC? 2. Whether non-cooperation of suspended management and non –availability of assets in Company can be an ground for initiation of Liquidation ...
Read MoreCompany Law - It is, therefore, essential that an IP is familiar with the processes and procedures followed for filing and submission before the NCLT. In furtherance of this, at the request of the IBBI, the NCLT has kindly agreed to allow a newly registered IP to attend and observe the proceedings of NCLT for five days. ...
Read MoreCompany Law - Syllabus of Valuation Examination for Asset Class- Plant and Machinery with effect from 1st April 2019 Insolvency and Bankruptcy Board of India No. IBBI/PR/2018/39 31st December, 2018 Press Release The Central Government notified the commencement of section 247 (relating to valuers) of the Companies Act, 2013 with effect from 18th Octob...
Read MoreCompany Law - Provisional list of IPs prepared in accordance with Insolvency Professionals to act as Interim Resolution Professionals and Liquidators (Recommendation) (Second) Guidelines, 2018....
Read MoreCompany Law - Section 16(3)(a) of the Insolvency and Bankruptcy Code, 2016 (Code) requires the Adjudicating Authority (AA) to make a reference to the Insolvency and Bankruptcy Board of India (Board) for recommendation of an insolvency professional (IP) who may act as an interim resolution professional (IRP) in case an operational creditor has made an a...
Read MoreCompany Law - IBBI notifies the Insolvency and Bankruptcy Board of India (Mechanism for Issuing Regulations) Regulations, 2018 The Insolvency and Bankruptcy Code, 2016 (Code) is a modern economic legislation. Section 240 of the Code empowers the Insolvency and Bankruptcy Board of India (IBBI) to make regulations subject to the conditions that the r...
Read MoreK. Sashidhar Vs Indian Overseas Bank & Ors. (Supreme Court of India) - K. Sashidhar Vs Indian Overseas Bank & Ors. (Supreme Court of India) In the present case, however, we are concerned with the provisions of I&B Code dealing with the resolution process. The dispensation provided in the I&B Code is entirely different. In terms of Section 30 of the I&B ...
Read MoreBinani Industries Limited Vs Bank of Baroda & Anr. (NCLAT, Delhi) - Binani Industries Limited Vs Bank of Baroda & Anr. (NCLAT, Delhi) In exercise of powers conferred by Section 31 of the ‘I&B Code’ read with order of remand by the Hon’ble Supreme Court, we have gone through the records, revised ‘Resolution Plan’ submitted by ‘Ultratech Cement Lim...
Read MoreSwiss Ribbons Pvt. Ltd. & Anr Vs Union of India & Ors. (Supreme Court of India) - Swiss Ribbons Pvt. Ltd. & Anr Vs Union of India & Ors. (Supreme Court of India) The Insolvency Code is a legislation which deals with economic matters and, in the larger sense, deals with the economy of the country as a whole. Earlier experiments, as we have seen, in terms of legislations ha...
Read MoreRadius Infratel Pvt. Ltd. Vs Union Bank of India (NCLAT Delhi) - National Company Law Appellate Tribunal (NCLAT) held that Corporate debtor cannot maintain appeal under the Insolvency and Bankruptcy Code (IBC), 2016....
Read MoreB.K. Educational Services Private Limited Vs Parag Gupta And Associates (Supreme Court of India) - It is thus clear that since the Limitation Act is applicable to applications filed under Sections 7 and 9 of the Code from the inception of the Code, Article 137 of the Limitation Act gets attracted....
Read MoreNo. IBBI/PR/2018/33 - (26/11/2018) - IBBI invites Suggestions and Comments on Draft Specimen: a. Information Memorandum b. Evaluation Matrix c. Request for Resolution Plans, and d. Resolution Plan....
Read MoreNotification No. No. IBBI/2018-19/GN/REG038 - (22/10/2018) - IBBI notifies the Insolvency and Bankruptcy Board of India (Mechanism for Issuing Regulations) Regulations, 2018 The Insolvency and Bankruptcy Code, 2016 (Code) is a modern economic legislation. Section 240 of the Code empowers the Insolvency and Bankruptcy Board of India (IBBI) to make regulati...
Read MoreNotification No. IBBI/2018-19/GN/REG037 - (22/10/2018) - No. IBBI/2018-19/GN/REG037 These regulations may be called the Insolvency and Bankruptcy Board of India (Liquidation Process) (Second Amendment) Regulations, 2018....
Read MoreNotification No. IBBI/RV/019/2018 - (17/10/2018) - It is hereby directed that with effect from 1st February, 2019, no insolvency professional shall appoint a person other than a registered valuer to conduct any valuation under the Code or any of the regulations made thereunder....
Read MoreOrder No. No. IBBI/DC/10/2018 - (15/10/2018) - Mr. Gupta to undergo the pre-registration educational course specified under regulation 5(b) of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 from his Insolvency Professional Agency to improve his understanding of the Code and the regulations made thereund...
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K. Sashidhar Vs Indian Overseas Bank & Ors. (Supreme Court of India) -
Binani Industries Limited Vs Bank of Baroda & Anr. (NCLAT, Delhi) -
Swiss Ribbons Pvt. Ltd. & Anr Vs Union of India & Ors. (Supreme Court of India) -
