Corporate Law : Analyzing the clash between India's Insolvency and Bankruptcy Code (IBC) and the Prevention of Money Laundering Act (PMLA), and th...
Corporate Law : Explore recent Supreme Court rulings on dissenting creditor rights and set-off claims in insolvency cases. Detailed analysis of ke...
Corporate Law : Understand the conditions for complying with a resolution plan under the Insolvency and Bankruptcy Code (IBC) and learn from relev...
Corporate Law : Explore proposed amendments to IBBI (Information Utilities) Regulations aiming to enhance insolvency resolution in India. Analyze ...
Corporate Law : Explore the nuances of voluntary liquidation procedures under Section 59 of the Insolvency and Bankruptcy Code (IBC) with insights...
Corporate Law : Explore proposals to enhance IU's Record of Default issuance process for swift insolvency proceedings. Details on objectives, stat...
Corporate Law : Explore the impact of the LLP (Amendment) Act, 2021 on Ease of Doing Business, startup encouragement, and the introduction of Smal...
Income Tax : Explore frequently asked questions about the Insolvency and Bankruptcy Board of India (IBBI) Valuation Examinations effective from...
Corporate Law : Explore the Insolvency and Bankruptcy Board of India's latest guidelines (2023) for appointing Interim Resolution Professionals, L...
Corporate Law : Explore discussion paper on real estate insolvency reforms, including RERA registration, separate bank accounts, and asset exclusi...
Corporate Law : In the State Bank of India vs. Supreme Panvel Indapur Tollways Pvt. Ltd. case, NCLAT Delhi grants time for rejoinder with a cost o...
Corporate Law : NCLAT Chennai rules against FLSmidth Pvt Ltd, stating liquidator lacks authority to decide matters involving claims and countercla...
Corporate Law : NCLAT held that CoC's decision not to liquidate did not constitute a modification of resolution plan and extension of time for pay...
Corporate Law : NCLAT Chennai held that liability arising from a recovery certificate constitutes a financial debt under IBC. Therefore, applicati...
Corporate Law : The National Company Law Tribunal (NCLT) approved the Resolution Plan, emphasizing the paramount importance of the CoC's commercia...
Corporate Law : Stay updated with IBBI's latest directive for Insolvency Professionals (IPs) to upload judicial orders related to insolvency proce...
Goods and Services Tax : Understand the clarifications on GST dues for taxpayers whose proceedings have been finalized under IBC, 2016, as per Circular No....
Corporate Law : Learn about the partial modification to IBBIs 2023 circular on liquidators' fees. Analysis of changes and their impact on insolven...
Corporate Law : Read the detailed analysis of the Insolvency and Bankruptcy Board of India's disciplinary action against Ms. Jovita Reema Mathias ...
Corporate Law : Read about the IBBI's disciplinary action against Mr. Venkata Sivakumar, an Interim Resolution Professional, for sharing asset mem...
SC held that an appeal being the continuation of original proceedings, the provision of section 7(5)(b) of IBC Code, for intimating the Financial Creditor (FC) before rejection of a claim, would be attracted.
Held that the provision under Section 60(1) makes it clear that the residence of Personal Guarantor is not taken into consideration when insolvency resolution proceedings against the Personal Guarantor are initiated.
Explore the journey and importance of valuation under IBC. Learn how this profession plays a pivotal role for debtors and creditors in the financial sector.
Till 31st July, 2022, the IBBI had received 6,231 such complaints and grievances, of which 6,172 have been disposed after examination.
Chhote Lal Gupta Vs Jai Balaji Jyoti Steels Ltd (NCLAT Delhi) Under Section 61 (2) of IBC Code, the period provided for filing the Appeal is 30 days from the date of Order. The Appellant is entitled to exclude the period for which certified copy was under preparation. Certified Copy was applied on 08th June, […]
DCIT Vs Neueon Towers Limited (ITAT Hyderabad) A reading of the provisions under section 13 and 14 of IBC Code along with the decision in Ghanashyam Mishra And Sons (supra), clearly shows that once the proceedings have commenced by institution of application under section 7 or 9 or 10 of the Code, the continuance of […]
IBBI DC noted the submission of Mr. Rakesh Ahuja that he continued the process while dealing with the matter as per regulation 35(1) of the Liquidation Regulations and decided to conduct the fresh valuations during Liquidation process solely on the recommendations of the stakeholders. Under the regulations, advice of Stakeholders’ Committee is not of binding […]
Ministry not have any role in corporate insolvency resolution process (CIRP) of a corporate debtor under IBC 2016
No rule making power provided under section 59 ‘Voluntary liquidation for corporate persons’ in the Insolvency and Bankruptcy Code, 2016.
DC notes that Mr. Aditya Agrawal should have been more careful and vigilant in conducting the CIRP and should have updated his professional knowledge and kept up with the IBC jurisprudence advanced by the Supreme Court. The DC is also of the considered opinion that the lapse committed by Mr. Aditya Agrawal is relatively minor […]
