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...
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 16th September, 2022 Insolvency and Bankruptcy Board of India (Liquidation Process) (Second Amendment) Regulations, 2022 No. IBBI/2022-23/GN/REG094.– In exercise of the powers conferred by clause (t) of sub-section (1) of section 196 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of […]
These Regulations may be called the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Second Amendment) Regulations, 2022. (2) They shall come into force on the date of their publication in the Official Gazette.
Insolvency and Bankruptcy Board of India (IBBI/Board) notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2016 (CIRP Regulations) on 16th September, 2022.
Insolvency professionals being the main link with IBBI in relation to processes under the Code wherefrom such litigations arise. It is, therefore, deemed appropriate that the Insolvency Professionals to proactively provide prompt information and papers to IBBI to enable it to examine the provision of statute under question with a view to implead itself for appropriate defence.
Amendments to Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, and Insolvency and Bankruptcy Board of India (Insolvency Professionals), Regulations 2016. The Insolvency and Bankruptcy Board India (IBBI) notified the following regulations on 13th September 2022: a) Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) […]
These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Second Amendment) Regulations, 2022.
It is important to note that the Code does not have any mention about the possibility of awarding success fee to the resolution professional. May be the renumerations during the process are considered as enough for attracting due services on behalf of the resolution professional.
In view of the submission made by Mr. Sanjit Kumar Nayak, and materials available on record, DC notes that Sanjit Kumar Nayak should have been more careful and vigilant in conducting the CIRP and Liquidation process. The deficiencies as noticed and conceded by Mr. Sanjit Kumar Nayak, with little care and knowledge of the statute, […]
Presently, the examination fee of Rs. 1,500+ applicable GST, i.e. Rs.1,770 is payable per enrolment for each of these exams. It has been decided that the fee of Rs. 5,000+ applicable GST, i.e. Rs. 5,900 for the LIE or Valuation Examinations shall be payable for each enrolment on or after 01st October 2022.
Govt has notified that for an application for fast track corporate insolvency resolution process may be made also by a Startup (other than the partnership firm) as defined vide Notification No. G.S.R. 127(E), dated the 19th February, 2019 MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 30th August, 2022 S.O. 4142(E).—In exercise of the powers […]
