CA, CS, CMA : Explore the major notifications, circulars, and judicial developments issued during 22–28 June 2026, covering Income Tax, GST, R...
CA, CS, CMA : This weekly roundup covers key notifications, circulars, and judicial rulings issued by GST, Customs, RBI, SEBI, MCA, IBBI, and ot...
CA, CS, CMA : A comprehensive review of significant developments across Income Tax, GST, Customs, DGFT, SEBI, MCA, IBBI, and RBI. The update hig...
CA, CS, CMA : The weekly roundup covers important Supreme Court rulings, GST advisories, RBI amendments, SEBI consultation papers, and insolvenc...
CA, CS, CMA : The article summarizes important notifications, circulars, judicial rulings, and regulatory changes issued between 11–17 May 202...
Corporate Law : IBBI has proposed amendments to CIRP, Liquidation, and Personal Guarantor Regulations to improve valuation, clarify RP duties, sim...
Corporate Law : The proposed amendments require comprehensive project-wise disclosures, technical assessments, and mandatory information in resolu...
Corporate Law : The IBBI has announced contractual vacancies for Research Associates and Consultants in law and business management disciplines. T...
Corporate Law : The Supreme Court upheld joint insolvency proceedings against two interconnected real estate companies due to common management an...
Corporate Law : 2026 Guidelines streamline selection of Insolvency Professionals for IRP, RP, Liquidator, and Bankruptcy Trustee roles, ensuring t...
Corporate Law : The NCLT held that a DRT Recovery Certificate provides a fresh cause of action, making the Section 7 application filed within thre...
Corporate Law : The NCLT admitted a Section 7 insolvency application after finding that the Corporate Debtor had acknowledged its liability under ...
Corporate Law : Finvin Investor Private Limited Vs Orix Leasing and Financial Services Limited (NCLAT Delhi) The National Company Law Appellate Tr...
Corporate Law : The Court noted that the complaint against the Resolution Professional and the related proceedings stemmed from CIRP proceedings b...
Corporate Law : The NCLT Kolkata admitted a Section 7 IBC petition after holding that the bank successfully established existence of financial deb...
Corporate Law : The IBBI First Appellate Authority held that although the CPIO failed to respond within the statutory 30-day period under the RTI ...
Corporate Law : IBBI cancelled an IP’s registration over systemic CIRP misuse, flawed valuations, non-disclosures, compliance failures and lack ...
Corporate Law : IBBI has released the Phase 10 syllabus for the Limited Insolvency Examination, effective from October 1, 2026, to reflect evolvin...
Corporate Law : The First Appellate Authority directed the CPIO to dispose of the RTI application after finding it was not decided within the 30-d...
Corporate Law : The First Appellate Authority held that the RTI application remained undisposed beyond the statutory period and directed the CPIO ...
It is to be noted that as per provisions of Code and regulations made thereunder, Committee of Creditors can be constituted only after receiving and collating the claims received by the IRP and verification thereof. There is no evidence on record to show that Mr. Gupta while discharging his duty as IRP, has collated and […]
DC notes that Mr. Kari should have been more careful, diligent, and vigilant in conducting the liquidation process and should have been cautious and prompt in discharging his duties as the Liquidator of the CD. While putting the property to auction, he should have seen whether after successful auction property can be transferred to the […]
It was observed that certain circulars are no longer required on account of being already provided in IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 or IBBI (Insolvency Professionals) Regulations, 2016 as the case may be.
A timeline Of 90 days from the insolvency commencement date is available for filing of claims. However, it has been observed that there is an inordinate delay in filing of claims by Customs and GST authorities. T
Section 28(1)(a) of the Code states that an IP shall take prior approval of the CoC before raising any interim finance in excess of the amount which has been decided by the CoC. This means that all the CoC members shall have final call as to what amount, whether initial or additional, may be raised […]
Consultation paper on issues related to reducing delays in the corporate insolvency resolution process suggests changes to IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016
DC finds that the Mr. Agarwal did not verify the claims received within prescribed time. He conducted the four meetings of the CoC on 06.09.2019, 26.09.2019, 18.10.2019 and 11.11.2019 without verification of claims. The CoC was constituted based on claim submission and not on claim verified by Mr. Agarwal as IRP/RP. Further, two FCs namely […]
In respect of the issue of preparation of the list of stakeholders being not in line with Regulation 31(1) of the Liquidation Regulations, the DC notes that Liquidation Regulations require that liquidator shall verify every claim as on the liquidation commencement date, and thereupon prepare a list of stakeholders, with specified details. The list of […]
Though the deficiencies as noticed and conceded by Ms Kalpana G appear to be minor in nature, however, in the context of messaging with regard to the independent role of Insolvency Professional as envisaged under the Code and Regulations framed thereunder, such acts of omission have larger ramifications.
IBBI suspends the registration of Mr. Bhupesh Gupta for a period of 2 years for not taking the custody and control of the CD and for letting the suspended management to settle the insurance claims after the initiation of the CIRP of the CD. In this case, the director of the suspended board of CD […]
