CA, CS, CMA : Explore the major notifications, circulars, and judicial developments issued during 22–28 June 2026, covering Income Tax, GST, R...
CA, CS, CMA : This weekly roundup covers key notifications, circulars, and judicial rulings issued by GST, Customs, RBI, SEBI, MCA, IBBI, and ot...
CA, CS, CMA : A comprehensive review of significant developments across Income Tax, GST, Customs, DGFT, SEBI, MCA, IBBI, and RBI. The update hig...
CA, CS, CMA : The weekly roundup covers important Supreme Court rulings, GST advisories, RBI amendments, SEBI consultation papers, and insolvenc...
CA, CS, CMA : The article summarizes important notifications, circulars, judicial rulings, and regulatory changes issued between 11–17 May 202...
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 : The Supreme Court upheld joint insolvency proceedings against two interconnected real estate companies due to common management an...
Corporate Law : 2026 Guidelines streamline selection of Insolvency Professionals for IRP, RP, Liquidator, and Bankruptcy Trustee roles, ensuring t...
Corporate Law : The NCLT held that a DRT Recovery Certificate provides a fresh cause of action, making the Section 7 application filed within thre...
Corporate Law : The NCLT admitted a Section 7 insolvency application after finding that the Corporate Debtor had acknowledged its liability under ...
Corporate Law : Finvin Investor Private Limited Vs Orix Leasing and Financial Services Limited (NCLAT Delhi) The National Company Law Appellate Tr...
Corporate Law : The Court noted that the complaint against the Resolution Professional and the related proceedings stemmed from CIRP proceedings b...
Corporate Law : The NCLT Kolkata admitted a Section 7 IBC petition after holding that the bank successfully established existence of financial deb...
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 First Appellate Authority held that the RTI application remained undisposed beyond the statutory period and directed the CPIO ...
The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018 has brought relief to the Micro Small and Medium Enterprises by relaxing the provisions of section 29A in their favour. It is one of the most significant amendments under the Insolvency and Bankruptcy Code and has a wide impact on the whole insolvency resolution regime.
The Insolvency and Bankruptcy Board of India (Board) issued a show-cause notice dated 23rd March, 2018 (SCN) to Mr. Kapil Goel, 205, Naurang House, 21 KG Marg, New Delhi – 110001. Mr. Goel is a Professional Member of the Indian Institute of Insolvency Professionals of ICAI and an Insolvency Professional registered with the Board with registration number IBBI/IPA-001/IP-P00625/2017-2018/11081.
t is directed that an IPE shall inform the Board: – (a) within seven days from the date when an insolvency professional ceases to be its director or partner or joins as its partner or director; and (b) forthwith and in any case, not later than 7th September, 2018, if it has failed to inform any cessation or joining of an insolvency professional as its partner or director in the past.
An insolvency professional entity (IPE) is recognised by the Insolvency and Bankruptcy Board of India (Board) under Chapter V of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016, subject to conditions specified under sub-regulation (2) of regulation 13, which reads as under:
On 23rd August 2018, the IBBI issued a 19 page order signed by the WT Director and also by the Chairman of IBBI. It was dedicated to ONE man, Mukesh Mohan, who had contravened provisions of sections 17, 18(f), 20, 23, 25(2)(h) and (j), 29A, 43, 45, 50, 66, 196 (1)(g), 206, 208 (2)(a) and (e) of the Insolvency Code. Not just that, he had also contravened regulation 7(2)(a)(h) and (i) of the IBBI IP Regulations. Furthermore, he was credited with contravention of clauses 1,2,3,5,9,10,11,12,13,14,15,16,17,19,24 and 25 of the Code of Conduct appended to IBBI IP Regulations. Lastly he was also found to have contravened Regulations 6(3), 13, 27(a) and 36 of the IBBI IRP for CP Regulations. While most of us are unaware or don’t care about the numerals mentioned above, but it is important to understand the breadth of the achievements of man and the detailed extent to which the Board goes about in military precision to clean up the dirt created by one of its own. The success of the most ambitious reform is so critically dependent on the fulcrum of the Institution of the Insolvency Professional that it needs to be constantly guarded and protected from the few bad apples within. Some of the statements/observations made in the 19 page report are subtle, while some are sharp, gives the nation an assurance that the men in charge mean business.
The Insolvency and Bankruptcy Board of India (Board) issued a show-cause notice (SCN) dated 18th December, 2018 to Mr. Dinkar T. Venkatasubramanian, Ernst & Young LLP, Golf View Corporate Tower B, Sector 42,Gurugram,Haryana, 122002, who is a Professional Member of the Indian Institute of Insolvency Professional of ICAI and an Insolvency Professional (IP) registered with the Board having registration number IBBI/IPA-001/IP-P00003/2016-17/10011 in respect of authorising E & Y LLP to raise invoices for his fee and other out of pocket expenses for work undertaken by him as an Interim Resolution Professional (IRP) and Resolution Professional (RP) in the matter of JEKPL Private Limited [Company Petition No. 24/Ald/2017] for violation of the provision of section 5 (13) of the Insolvency and Bankruptcy Code, 2
The mere fact that closure is a real possibility forces managements to get serious with debt monies. The Corporate Finance strategist is set to review her views on the leveraging strategies, as debt may cease to be the soft and easy option. Every corporate who has ended in the Insolvency Process, has gone through cycles of exuberance and despondence, as either it has paid the price of its own mistakes or was a victim of economic cycles. Each legal case is a management case study for the stakeholders and in particular the Insolvency Professional to guide when she is in the trenches attempting to pull out a battered corporate out of insolvency. It has learning for every individual on either side of a corporate debt. And the Beginning of the Journey could not have been any less controversial than what Synergy was. Presenting the complete story of the resolution that could have derailed the most critical reform post Man Mohan Singh.
Ministry of Law and Justice notifies Insolvency and Bankruptcy Code (Second Amendment) Act, 2018 vide notification No. 26 of 2018 dated 17th August, 2018.
With pulsating heart beats and anxiety, when my computer advised me to complete the examination conducted by Insolvency and Bankruptcy Board of India (IBBI) for Insolvency Professional certification purposes on August 9, 2018 at Meerut, I decided to write this article on the role of insolvency professionals with adequate information and a small review of their achievements and tribulations from actual court cases drawn from NCLT/NCLAT/Supreme Court.
The IPAs have responsibility to develop and regulate the profession of IPs. They carry out quasi-legislative, executive and quasi-judicial functions. While they are public utilities and front-line regulators, they must compete with one another in terms of service rendered by their members acting as IPs.
