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...
DC notes that there were practical challenges particularly with regard to non-availability of documents and non-cooperation of the CD in the CIRP of the CD. At the same time, the DC also finds that the conduct of Mr. Rohit Aggarwal depicts that he has failed to understand the Code/Regulations in letter and spirit as statutory […]
An operational creditor is eligible to send a demand notice to a corporate debtor upon default in payment u/s. 8(1) of the Insolvency and Bankruptcy Code
The DC notes that RP is required to seek a vote of the members who did not vote at the meeting on the matters listed for voting, by electronic voting system in accordance with the provision of regulation 25(5) & 26 of the CIRP Regulation. Regulation 25(5) states that voting window shall be kept open […]
The NCLT vide its order dated 18th July, 2022 terminated the corporate insolvency resolution process (CIRP) initiated against Videocon Infinity Infrastructure Private Limited (CD) and imposed a penalty of penalty of Rs.50 lakh on FC under section 65 of the Code.
In view of the submission made by Ms. Padmasri Appana, and materials available on record, DC notes that Ms. Padmasri Appana has contravened, as observed hereinabove, with respect to delay made in public announcement, not taking required steps for taking forward liquidation proceeding and not providing information sought to IA. The DC notes that aforesaid […]
DC finds the Mr. Murali was negligent in the performing his duties under the Code and Regulations made thereunder by repeatedly non-filing the statutory forms within stipulated timelines and non-exercising due care in the appointment of registered valuers to conduct the valuation under the Code. It is pertinent to mention that an Insolvency Professional has […]
NCLT held that Applicant is not even a stakeholder in respect of the Corporate Debtor and, a complete third-party to the proceedings before this Tribunal and has no locus standi to question initiation of proceedings under Section 7 of the Insolvency and Bankruptcy Code against the Corporate Debtor.
The material available on record indicates that IP has entered into an arrangement with one Mr. Anil Goel, on March 21, 2020 for appointment of Mr. Anil Goel as advisory services in CIRP of CD. The scope of services, as provided in the said engagement letter covers finalisation of strategy and structure for resolution process […]
In the present matter it is observed that the quarterly reports for the quarters ending 30.09.2020, 31.12.2020, 31.03.2021, 30.06.2021 and 30.09.2021 have not been submitted in a timely manner by the Liquidator. Mr. Ravikumar pleads that he had approached the NCLT registry for physical filing but was informed that the filing is to be done […]
Supreme Court vide its order dated 12th July, 2022 held that section 7(5)(a) of Insolvency and Bankruptcy Code, 2016 (the Code), confers discretionary power on the Adjudicating Authority (AA) to admit an application of a Financial Creditor (FC) under section 7 of the Code for initiation of Corporate Insolvency Resolution Process (CIRP).
