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...
Mr. Anurag Kumar Sinha has erred in his judgement in placing a noncompliant resolution plan for the consideration of the CoC. Further, despite being noncompliant plan, it was passed and placed for AA’s approval. AA has strongly commented on the issue in its judgement pointing out the mistake of the resolution professional and the CoC […]
Stay up to date with the latest case law related to IBC in October, November and December 2022. Supreme Court finds OCs cannot enforce CIRP prematurely. AA must investigate plausible disputes, not feeble arguments.
The DC notes that Mr. Viswanathan Sankaran was present before the AA on 17.09.2021 while order for conducting CoC meeting by next week was passed. Hence it may be said that he was aware of direction by the AA. The DC further notes that representative of Canara Bank vide email dated 07.10.2021 requested to prepone […]
Repeated non-cooperation and series of non-compliances is not justifiable, whatsoever, serious nature of trauma, at personal level one may be suffering. In case, circumstances were so compelling that he was not able to discharge his duties, instead of remaining gainfully engaged on regular basis in connection with CD, he had option to approach to CoC or AA for presenting a case for his replacement.
Certain Homebuyers had requested Mr. Gokhale Insolvency Professional (IP) as well as RP to provide certain documents/information viz. copy of IM, up to date financials of CD, proceedings before NCLTs, etc. The documents requested by the homebuyers were important documents for taking informed decisions for voting on various resolutions in the CIRP of the CD. […]
IBBI Disciplinary Committee is of the view that Mr. Abhishek Anand failed to take custody and control of the assets of CD and used the amount deposited by resolution applicant without getting the plan approved by AA and violated section 18(1)(f), 25(1), 25(2)(a), 31, 208 of the Code and regulation 7(2)(a), 7(2)(h) read with clause […]
IBC 2016 leaves no room to RP for expediency or scope of interpretation of provisions in favour of any party. The RP is duty bound to bring all the facts before the CoC for taking appropriate decision. Again, post facto approval, after inviting fresh EOI from DSKL does not help the cause of Mr. Pankaj Sham Joshi either.
IBBI disposes of the SCN cautioning IP, Mr. Rajagurusami Maheswaran to be more careful in future and directs him to strictly comply with applicable provisions of IBC Code and its underlying Regulations while performing his duties.
Explore proposed sweeping changes in the Insolvency and Bankruptcy Code (IBC) 2016 by the Ministry of Corporate Affairs. The changes aim to enhance transparency, incorporate technology, empower authorities, and streamline processes. Key proposals include redesigning fast-track CIR processes, addressing real estate cases, equitable distribution of proceeds, granting more powers to authorities, relaxing pre-pack procedures, mingling assets of CD & guarantor, and introducing an electronic platform.
A group insolvency framework that is voluntary, flexible and enabling in nature should be provided under the Code. Such a framework may be introduced in phases. In the first phase, only provisions governing domestic group insolvency may be enacted.
