Corporate Law : NCLAT held that the CoC may decide to liquidate a corporate debtor under Section 33(2) before inviting resolution plans, with limi...
Corporate Law : This article explains why the Insolvency and Bankruptcy Code places commercial decision-making in the hands of the Committee of Cr...
Corporate Law : The article explains how the NCLAT interpreted Section 66(1) to extend liability beyond company insiders to third parties who know...
Corporate Law : The Supreme Court held that individuals investing for financial returns rather than home ownership cannot invoke Section 7 of the ...
Corporate Law : The High Court held that a company cannot shift its registered office after approval of a resolution plan when appeals against the...
Corporate Law : IBBI has proposed amendments to CIRP, Liquidation, and Personal Guarantor Regulations to improve valuation, clarify RP duties, sim...
Corporate Law : The proposed amendments require comprehensive project-wise disclosures, technical assessments, and mandatory information in resolu...
Corporate Law : The IBBI has announced contractual vacancies for Research Associates and Consultants in law and business management disciplines. T...
Corporate Law : 2026 Guidelines streamline selection of Insolvency Professionals for IRP, RP, Liquidator, and Bankruptcy Trustee roles, ensuring t...
Corporate Law : The amendments replace the consultation committee with CoC oversight, giving creditors greater control over liquidation decisions....
Corporate Law : Bombay HC held that Section 14 IBC moratorium does not prevent deemed conveyance under Section 11 MOFA and restored the society's ...
Company Law : Kerala HC held Rule 55 empowers NCLT to accept additional pleadings, setting aside refusal to entertain further objections in a Se...
Corporate Law : NCLAT held that invoice discounting through the TReDS platform does not convert operational debt into financial debt. The appeal w...
Corporate Law : Supreme Court held that a Section 7 IBC application can proceed despite pending winding-up proceedings where no irreversible stage...
Corporate Law : NCLT admitted the Section 9 petition after holding that campaign-related emails did not constitute a genuine pre-existing dispute....
Corporate Law : The IBBI First Appellate Authority held that although the CPIO failed to respond within the statutory 30-day period under the RTI ...
Corporate Law : IBBI cancelled an IP’s registration over systemic CIRP misuse, flawed valuations, non-disclosures, compliance failures and lack ...
Corporate Law : IBBI has released the Phase 10 syllabus for the Limited Insolvency Examination, effective from October 1, 2026, to reflect evolvin...
Corporate Law : The First Appellate Authority directed the CPIO to dispose of the RTI application after finding it was not decided within the 30-d...
Corporate Law : The Disciplinary Committee found that the Resolution Professional delayed admission of a financial creditor's claim and failed to ...
In the matter of Mr. Vijay Kumar Garg, Insolvency Professional- This order to be read with the Order of Disciplinary Committee dated 08 June, 2020 After considering the representations made by the D&P, oral and written submissions made during personal hearing and in the light aforesaid findings, this DC opines as follows. (i) It is […]
Insolvency and Bankruptcy code 2016 was introduced with the vision to ease the restructuring and insolvency resolutions of corporate person partnership firms & other specified persons. The provisions for Fast Track Insolvency Procedure are laid under Part-II, Chapter-4 of the code. The ambit of the said provision covers Small companies, Start-Ups, Unlisted Companies with a […]
Volkswagen Finance Private Ltd. Vs Shree Balaji Printopack Pvt. Ltd. (NCLAT Delhi) From the documentary evidence on record it is clear that no ‘Charge’ has been registered under the provisions of Section 77(1) of the Companies Act 2013, in relation to the Subject Property. The Liquidator has rightly referred to Regulation 21 of IBBI (Liquidation […]
Mr. Santosh Kumar Shukla took charge as Executive Director, Insolvency and Bankruptcy Board of India (IBBI) in New Delhi today. Immediately before joining IBBI, he was serving as Chief General Manager in the Enforcement Department of the Securities and Exchange Board of India (SEBI).
Lease rentals arising out of use and occupation of a cold storage unit which was for Commercial Purpose was an ‘Operational Debt’ as envisaged under Section 5 (21) of the Code.
The DC further notes that an IP who is more than 70 years of age cannot make an application for the grant of AFA. Therefore, he could not apply for obtaining grant of AFA and hence, could not hold AFA.
Kridhan Infrastructure Pvt. Ltd. (Now Known As Krish Steel And Trading Pvt. Ltd) Vs. Venkatesan Sankaranaayan & Ors. (Supreme Court) SC held that Liquidation of the Corporate Debtor should be a matter of last resort. The IBC recognizes a wider public interest in resolving corporate insolvencies and its object is not the mere recovery of […]
In the present matter, Mr. Kumar accepted the assignment of voluntary liquidation in matter of Sambodhi Healthcare Private Limited and Modern Cold Storage Limited without holding valid AFA after 31.12.2019 which is in express contravention of regulation 7A of IP Regulations, which is applicable to voluntary liquidation as well. In consequence, he also contravened code […]
In view of the fact that ICSI Institute of Insolvency Professionals has already taken disciplinary action against Mr. Pranav Kumar for accepting assignment as Interim Resolution Professional after 31st December 2019 without holding a valid AFA in the matter of Crayons Advertising Private Limited, the DC, in exercise of the powers conferred under Regulation 11 of the IBBI (Insolvency Professionals) Regulations, 2016, disposes of the SCN without any direction against Mr. Pranav Kumar.
It has been observed that the RVOs have been following different practices in conducting the meetings of the DC and AP. Accordingly, the Board advises the RVOs to ensure the following while conducting the meetings of the DC and AP of the RVOs:
