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Insolvency & Bankruptcy Board of India: Governing Board, Impact functions & powers

Corporate Law : Learn about the Insolvency and Bankruptcy Board of India (IBBI), its functions, impact, and powers. Understand its role in regulat...

May 27, 2024 489 Views 0 comment Print

Latest Case Law Related to IBC – January-Mar, 2024

Corporate Law : Explore recent Supreme Court rulings on dissenting creditor rights and set-off claims in insolvency cases. Detailed analysis of ke...

May 16, 2024 387 Views 0 comment Print

IBC: Liquidation Process Amendments 2024 by IBBI

Corporate Law : Explore the recent amendments to the IBBI (Liquidation Process) Regulations, 2016, enhancing stakeholder oversight and streamlinin...

February 22, 2024 1149 Views 0 comment Print

Analysis of IBBI (CIRP) (Amendment) Regulations, 2024

Corporate Law : Discover the latest amendments by IBBI to the CIRP regulations, enhancing transparency and accountability. Learn about changes lik...

February 20, 2024 540 Views 0 comment Print

Latest Case Law Related to IBC – October to December 2023

Corporate Law : Explore significant legal developments, Supreme Court verdicts, and detailed analyses in the Q4 2023 newsletter. Stay informed on ...

February 19, 2024 1284 Views 0 comment Print

Latest News

Discussion Paper on Streamlining CIRP Form Compliance for Insolvency Professionals

Corporate Law : Discover how the latest revisions in CIRP forms by IBBI aim to reduce the compliance burden on insolvency professionals and stream...

June 12, 2024 114 Views 0 comment Print

IBBI Guidelines 2024: Interim Resolution, Liquidation and Bankruptcy Trustees

Corporate Law : The Insolvency and Bankruptcy Board of India issues guidelines for Insolvency Professionals to act as Interim Resolution Professio...

June 5, 2024 279 Views 0 comment Print

CPIO is not bound to provide any advice/guidance or opinion to Appellant

Corporate Law : Delve into the scope of the RTI Act, rights of applicants, and appeal procedures. Learn how to navigate through legal intricacies ...

June 1, 2024 402 Views 0 comment Print

Discussion paper on Strengthening process of issuance of record of default by Information Utility

Corporate Law : Explore proposals to enhance IU's Record of Default issuance process for swift insolvency proceedings. Details on objectives, stat...

May 10, 2024 174 Views 0 comment Print

Notice inviting comments, by MCA, on review of rules prescribed under IBC 2016

Corporate Law : Join the discussion on MCA's proposed changes to Insolvency and Bankruptcy Code rules. Learn how to participate and share your ins...

April 19, 2024 621 Views 0 comment Print

Latest Judiciary

Bombay HC Strikes Down & Upholds Portions of IBBI Circular on Liquidation Assignments

Corporate Law : The Bombay High Court rules on the Insolvency and Bankruptcy Board of India's circular regarding liquidation fees, clarifying IP's...

June 14, 2024 144 Views 0 comment Print

Delhi HC Mandates Ethical Conduct for Liquidators under IBC

Corporate Law : Delhi HC rules on Sundaresh Bhat vs IBBI, emphasizing ethical conduct and fairness for liquidators under IBC. Key insights into th...

June 13, 2024 90 Views 0 comment Print

Only costs directly related to CIRP & approved by CoC can be classified as CIRP costs: NCLAT

Corporate Law : NCLAT Delhi rules on Avil Menezes' appeal regarding CIRP costs in Sunil Hitech vs Abdul Qudduskhan case. Detailed analysis of fabr...

May 31, 2024 153 Views 0 comment Print

Unconditional Withdrawal of SLP – Appeal Not Maintainable: Delhi HC

Corporate Law : Delhi High Court dismisses appeal against IBBI, citing res judicata principle. Full text of judgment and analysis provided....

May 31, 2024 231 Views 0 comment Print

NCLAT Grants Relief to SBI: Time for Rejoinder Extended

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...

May 16, 2024 93 Views 0 comment Print

Latest Notifications

IBBI order on Unreasonable Expenditure on Charter Planes & Non-Preservation of Records by IP

Corporate Law : Explore the detailed analysis of Mahender Kumar Khandelwal's case by the Insolvency and Bankruptcy Board of India Disciplinary Com...

June 7, 2024 360 Views 0 comment Print

IBBI Suspends IP for Non-Compliance with NCLAT Directive and Delayed CoC Meetings during CIRP

Corporate Law : IBBI suspends IP for Failure to act during CIRP despite NCLAT directive and for Delay in convening Committee of Creditors (CoC) me...

June 6, 2024 198 Views 0 comment Print

RTI Appeal: CPIO Not Required to Create Information or Reply vague queries

Corporate Law : The CPIO is not obligated to create new information for RTI requests. Learn about the limitations and scope of RTI Act in this det...

June 3, 2024 312 Views 0 comment Print

IBBI Directs IP to Undergo Pre-Registration Courses for Material Information Suppression

Corporate Law : IBBI imposes penalties on Ms. J Karthiga for material information suppression, directing her to undergo pre-registration courses....

May 31, 2024 156 Views 0 comment Print

Merely being students of university do not trigger larger public interest under RTI

Corporate Law : Appellant has failed to establish how a larger public interest is involved warranting disclosure of requested information. Merely ...

May 22, 2024 99 Views 0 comment Print

Brief Para Wise Summary of Lalit Kumar Jain Vs Union of India & Ors.

June 14, 2021 18387 Views 1 comment Print

The Hon’ble Apex Court upheld the provisions of the Insolvency and Bankruptcy Code relating to insolvency of personal guarantors that were brought into force in 2019. Further the notification has been issued by MCA on 15.11.2019 which has notified the provision of IBC w.r.t. to personal guarantors. However, validity of the same has been challenged by IBBI on 20.11.2019 which is confined to impugned notification.

IBBI invites application for Chairperson Post in IBBI under IBC 2016

June 10, 2021 705 Views 0 comment Print

ADVERTISEMENT Subject:- Invitation of application for the post of Chairperson in the Insolvency and Bankruptcy Board of India established under the Insolvency and Bankruptcy Code, 2016. 1. Applications are invited for the post of Chairperson in the Insolvency and Bankruptcy Board of India, a statutory body established under the Insolvency and Bankruptcy Code (IBC), 2016. […]

Ineligibility attaches at the time when the Resolution Plan is submitted by Resolution Applicant

June 10, 2021 2502 Views 0 comment Print

Martin S.K. Golla Vs Wig Associates Pvt. Ltd. (NCLAT) The Resolution Plan of Mr. Wig who was undisputedly a related party, was accepted on 20.04.2018 in the 4th COC (Annexure – 16 – Page 248). Section 29A hits the eligibility of the persons to submit a Resolution Plan if a person falls in any of […]

IP to collect information from other sources if suspended director of CD not Co-operate

June 9, 2021 1227 Views 0 comment Print

In respect of fourth issue of failure to collect information about the CD from other sources, the DC notes that IP has a duty to collect all information relating to the assets, finances, and operations of the CD for determining the financial position of the CD. The DC notes that in situation when there is […]

IBBI invites expression of interest (EOI) from IPs

June 5, 2021 1401 Views 0 comment Print

IBBI shall invite expression of interest (EOI) from IPs, in Form A, by sending an e-mai1 to IPs at their email addresses registered with the Board. Accordingly, an e-mail has been sent to your email ID registered with the Board, seeking EOI for appointment as IRP, Liquidator, RP and BT from July 1, 2021 to December 31, 2021, as per aforesaid guidelines.

Latest Case Law Related to IBC – January 2021- March, 2021

May 30, 2021 6672 Views 0 comment Print

Supreme Court Laxmi Pat Surana Vs. Union Bank of India & Anr. [CA No. 2734/2020] An FC had extended a credit to a proprietorship firm, which failed to repay the amount. The credit was guaranteed by a company. The FC filed an application under section 7 for CIRP of the CD (guarantor company). The application […]

SC upholds provisions of IBC on insolvency of personal guarantors

May 25, 2021 795 Views 0 comment Print

The Code has been hailed as a major economic measure, aimed at aligning insolvency laws with international standards. The aim of the Code is to: (i) promote entrepreneurship and availability of credit; (ii) ensure the balanced interests of all stakeholders and (iii) promote time-bound resolution of insolvency in case of corporate persons, partnership firms and individuals.

SC Upholds IBC provisions on insolvency of Personal Guarantors

May 21, 2021 6726 Views 0 comment Print

Lalit Kumar Jain Vs Union of India (Supreme Court) 1. Supreme Court on Friday upheld provisions of the Insolvency and Bankruptcy Code (IBC) allowing lenders to pursue insolvency proceedings against promoter guarantors of companies facing Corporate Insolvency Resolution Process. 2. A bench of Justices L Nageswara Rao and Ravindra Bhat delivered the judgement. The ruling […]

PPIRP- Pre-Packaged Insolvency Resolution Process under IBC 2016

May 6, 2021 16065 Views 0 comment Print

Insolvency & Bankruptcy Code, 2016 (IBC) was notified on May 28, 2016 and by December 2016 majority of provisions of IBC was implemented. With its enactment an altogether new insolvency regime that is proactive, incentive compliant, market led, and time-bound, came into existence in India.

IBBI (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Second Amendment) Regulations, 2021

April 27, 2021 324 Views 0 comment Print

Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Second Amendment) Regulations, 2021 INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, 27th April, 2021 No. IBBI/2021-22/GN/REG074.—In exercise of the powers conferred by sections 196, 203 and 205 read with section 240 of the Insolvency and Bankruptcy Code, 2016 […]

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June 2024