Corporate Law : The framework permits liquidation only where the company has not defaulted on debts and can pay liabilities. It ensures a clean an...
CA, CS, CMA : The High Court ruled that retrospective cancellation of GST registration is invalid if such action is not proposed in the original...
Corporate Law : Explains how the 2025 amendment removes going-concern sales from liquidation. Highlights the shift toward speed and finality over ...
Corporate Law : IBBI Regulations 32 & 32A for liquidation: defines asset sale modes and prioritizes selling the business as a going concern to max...
Corporate Law : Understand secured creditor rights under IBC Section 52 during liquidation: relinquish security to the estate or realize independe...
Corporate Law : The amendments replace the consultation committee with CoC oversight, giving creditors greater control over liquidation decisions....
Corporate Law : The proposal focuses on enabling creditors to initiate resolution while retaining debtor management under supervision. It sets out...
Corporate Law : The amendments arise from the inclusion of a unified “service provider” definition under the Code. The move expands regulatory...
Corporate Law : The issue addressed is ambiguity in authentication and evidentiary value of financial information in insolvency cases. The propose...
Corporate Law : The proposal aligns grievance regulations with the newly introduced definition under the amended Code. It aims to ensure uniform a...
Company Law : NCLAT Delhi held that each and every commercial transaction which has resulted in loss may not be labelled as fraudulent or to hav...
Company Law : The appellate tribunal quashed orders permitting bankruptcy against personal guarantors after a creditor consented to grant additi...
Company Law : NCLT Allahabad held that financial creditor duly established existence of financial debt and default thereon on the part of the Co...
Company Law : The tribunal held that the resolution plan was invalid because several valuable properties were omitted from the Information Memor...
Company Law : NCLAT Delhi held that Prospective Resolution Applicant or unsuccessful Resolution Applicant doesn’t have vested right to challen...
Corporate Law : The issue was whether IBBI must provide data held by a regulated entity. The Authority held that RTI applies only to information h...
Corporate Law : The appeal found that the RTI response was delayed beyond statutory timelines. The key takeaway is that delay breaches RTI provisi...
Corporate Law : The issue was whether an RVO could grant conditional enrolment to an unqualified applicant. The authority held that such enrolment...
Corporate Law : The amendment allows financial creditors to directly initiate insolvency with prior approvals, reducing delays. It ensures faster ...
Corporate Law : The study found that most MSME insolvency cases are resolved before admission, highlighting gaps in data and process efficiency. I...
An Insolvency Professional Entity (IPE) is recognised in accordance with regulation 12 (1) of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016, only if its sole objective is to provide support services to the insolvency professionals, who are its partners or directors; as the case may be.
The Insolvency and Bankruptcy Board of India (IBBI) has notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2018 today.
These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2018.
IBBI releases Discussion Paper on Discharge from Responsibility as Interim Resolution Professional, Resolution Professional or Liquidator of the Corporate Processes under the Code for comments
Pendency of serious criminal proceeding, as noted above, against the applicant adversely impacts his reputation and makes him not a person fit and proper for registration as an IP. In exercise of the powers conferred on the Board under regulation 8(3)(b) of the Regulations, I, therefore, reject the application for registration as an Insolvency Professional.
When a corporate debtor undergoes corporate insolvency resolution process (CIRP), an Insolvency Professional (IP) is vested with the management of its affairs and he manages its operations as a going concern. He complies with the applicable laws on behalf of the corporate debtor. He conducts the entire CIRP.
Dr. M. S. Sahoo, Chairperson accompanied by all three Whole Time Members, Ms. Suman Saxena, Dr. Navrang Saini and Dr. (Ms.) Mukulita Vijayawargia appeared before the Joint Committee on “the Financial and Resolution and Deposit Insurance Bill, 2017” on 22 January, 2018 and presented their views on the said Bill.
Hon’ble President on June 06, 2018 gave his assent to promulgate the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018. These Sections shall come into force with immediate effect. An attempt has been made in this document to shed light on the key changes in the insolvency legislation.
The new IBC (Amendment) Ordinance, 2018 equates an allottee of a real estate project to be a person having a commercial effect of borrowing. He is now treated as financial creditor. He can initiate a corporate insolvency for a resolution against the errant developer.
Amid financial institutions and other financial and operational creditors being successful in instituting insolvency resolution process against the corporate debtors, the plea of the home buyers for initiating the insolvency resolution process against the corporate debtors, being real estate developers was struck down by NCLT.
