Corporate Law : Insights into recent Supreme Court and High Court judgments on IBC cases, covering corporate guarantees, auction timelines, liquid...
CA, CS, CMA : Review of recent notifications and circulars for Income Tax, GST, SEBI, and IBBI from November 4-10, 2024, covering updated polici...
CA, CS, CMA : Overview of recent notifications and circulars from Income Tax, GST, Customs, and IBBI for the week of October 14-20, 2024, impact...
CA, CS, CMA : Discover recent Income Tax and GST notifications and circulars issued during the week of October 14-20, 2024, focusing on key exem...
Corporate Law : Despite Supreme Court rulings, authorities continue to raise demands for periods before NCLT orders under IBC, violating judicial ...
Corporate Law : IBBI dismisses multiple RTI appeals citing misuse of the RTI Act through repetitive filings. The order emphasizes responsible use ...
Corporate Law : RTI Act permits access only to information held by a public authority and does not require the creation or interpretation of infor...
Corporate Law : IBBI denies RTI appeal citing fiduciary exemption under Section 8(1)(e). The requested MSME-related information was withheld. Appe...
Corporate Law : IBBI proposes key amendments to CIRP, liquidation, and personal guarantor insolvency, aiming to enhance efficiency, transparency, ...
Corporate Law : IBBI revises technical standards for information utilities under the Insolvency Code, effective January 2025, focusing on user ide...
Company Law : NCLAT Chennai held that order not falling under Part II of the Insolvency and Bankruptcy Code, 2016 [IBC] is not appealable under ...
Corporate Law : NCLAT Chennai held that liquidator cannot resort to proceedings under section 61 of Insolvency and Bankruptcy Code for the purpos...
Corporate Law : NCLT Mumbai held that entertaining objection raised by the applicant after the sale is confirmed unjustified as there is no allega...
Corporate Law : The Bombay High Court rules on the Insolvency and Bankruptcy Board of India's circular regarding liquidation fees, clarifying IP's...
Corporate Law : Delhi HC rules on Sundaresh Bhat vs IBBI, emphasizing ethical conduct and fairness for liquidators under IBC. Key insights into th...
Corporate Law : IBBI rejects RTI appeal seeking detailed breakup of Dalmia Cement claims in Jaiprakash insolvency case, citing unavailability of d...
Corporate Law : IBBI rejects RTI appeal seeking clarifications on valuer registration, stating that opinions and justifications do not fall under ...
Corporate Law : IBBI disposes of SCN against IP in CIRP case, addresses claims dispute, and ongoing RoC investigation. Details of findings and DC'...
Corporate Law : The IBBI Disciplinary Committee has suspended Ms. Sonu Jain for one year due to delays and procedural lapses in the liquidation pr...
Corporate Law : IBBI suspends valuer for six months for non-transparent valuation in CIRP and liquidation of Base Corporation Ltd., citing violati...
Under section 18(f) of IBC Code, Mr. S. Muthuraju being IRP of the CD from 14.06.2017 to 20.09.2017 was required to take control and custody of any asset over which the CD has ownership rights, as recorded in the balance sheet of the CD.
IBBI published the syllabus of phase 8 of the LIE. The revised syllabus is applicable for the examination to be conducted with effect from 1st July 2023.
IBBI held that it is evident that there was avoidable delay on the part of Mr. Rajput in filing application under Section 19(2) of the Code for non-cooperation of directors/promoters of CD, in taking control of assets of CD, in appointing registered valuers and in publication of Form G and he did not operate the […]
IBBI observes that procedural contraventions fall in the category of minor procedural deviations, hence IBBI inclined to take a lenient view
The Authority finds that since valuation is more of a subjective exercise, a valuation report must be transparent and set out all the necessary information and assumptions behind the valuation estimate provided by a valuer so as to enable the stakeholders to form a judicious economic opinion on the report. The RV acknowledged that since […]
DC is of the view that two serious contraventions have established beyond doubt. Firstly his non-cooperation to inspecting and investigating authority is in grave violation of Regulation 4(4), Regulation 4(7), Regulation 8 (4) and Regulation 8(8)of the Inspection and Investigation Regulations; Clause 18 and Clause 19 of the Code of Conduct. Furthermore, authority of the […]
The DC notes that Preamble of the Code makes it clear that all out efforts are to be made for resolution of the Corporate Debtor. CoC having sole FC has shown undue haste in reaching the conclusion, that CD has to be pushed towards direct liquidation. In the process, it discouraged the RP from even […]
Insolvency and Bankruptcy Board of India 7th Floor, Mayur Bhawan, Connaught Place, New Delhi – 110 001 Circular No. IBBI/LAD/58/2023 04th March, 2023 To All Registered Insolvency Professionals All Recognised Insolvency Professional Entities All Registered Insolvency Professional Agencies (By mail to registered email addresses and on website of the IBBI) Dear Madam / Sir, Subject: Serving […]
Notification No. 09/2023- Income Tax Dated: 01st March, 2023 CBDT notifies Tax Exemption to Insolvency and Bankruptcy Board of India, a Board established by the Central Government, in respect of specified income under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 09/2023- Income […]
IBBI notes the submission of Ms. Gunjan Agarwal that she has done aging analysis of trade receivables and thereby categorized in six categories A (15%) to E (2.5%) and that some debtors whose balance consists of 2 categories, i.e., within 2 years and also included an amount outstanding for more than 2 years, accordingly FV […]
