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IBBI Circular on Filing Forms for Monitoring Voluntary Liquidation Processes

CA, CS, CMA : Discover IBBI Circular No. IBBI/LIQ/74/2024 dated 28-06-2024 on voluntary liquidation processes under the Insolvency and Bankruptc...

June 30, 2024 252 Views 0 comment Print

Exit Strategies for Companies: Understanding Strike Off & Voluntary Liquidation

Company Law : Explore company exit strategies in India: Strike Off under Companies Act, 2013 vs Voluntary Liquidation under IBC, 2016. Understan...

June 22, 2024 1107 Views 1 comment Print

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 528 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 438 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 1260 Views 0 comment Print

Latest News

IBBI Issues Guidelines for Insolvency Professionals 2024

Corporate Law : Learn about the new guidelines by IBBI for Insolvency Professionals acting as IRPs, Liquidators, RPs, and BTs. Details on eligibil...

July 5, 2024 195 Views 0 comment Print

IBBI Format for progress report during Liquidation process

Corporate Law : IBBI updates the progress report format for liquidation processes, seeking comments by July 12, 2024. Learn about the new requirem...

June 22, 2024 342 Views 0 comment Print

IBBI Discussion Paper: Proposed Amendments to CIRP Regulations

Corporate Law : IBBI invites comments on proposed amendments to CIRP regulations, focusing on valuation processes, MSME treatment, voting protocol...

June 19, 2024 312 Views 0 comment Print

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 234 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 384 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 384 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 180 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 237 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 270 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 117 Views 0 comment Print

Latest Notifications

IBBI Disciplinary Committee imposes penalty on IP for not co-operating with IBBI

Corporate Law : IBBIs recent order finds Vijaykumar Varun in violation of Insolvency Code provisions. Read details on non-compliance and disciplin...

July 24, 2024 39 Views 0 comment Print

IBBI Imposes ₹50,000 Penalty on Insolvency Professionals for Non-Cooperation

Corporate Law : Read about the IBBI Disciplinary Committee's decision on Mr. S. Diraviam regarding alleged violations during a corporate insolvenc...

July 24, 2024 60 Views 0 comment Print

IBBI penalises IP for not filing application regarding fraudulent transaction

Corporate Law : Detailed analysis of IBBI Order 229/2024 on Mr. Narender Kumar Sharma, resolving a show-cause notice with significant findings and...

July 15, 2024 96 Views 0 comment Print

IBBI suspends valuer for misuse of IBBI’s name/logo and misleading declarations

Corporate Law : Explore the IBBI's decision on Mr. Gopal Krishna Raju regarding violations under the Companies Act, 2013 and Valuation Rules, incl...

July 13, 2024 366 Views 0 comment Print

IBBI suspends IP for discussions with ex-directors regarding fees as RP

Corporate Law : Explore IBBI's Disciplinary Order No. IBBI/DC/228/2024 dated 11 July 2024 against Reshma Mittal, detailing the CIRP process, alleg...

July 11, 2024 108 Views 0 comment Print

Cabinet approves amendments to Insolvency and Bankruptcy Code

July 18, 2019 564 Views 0 comment Print

In order to provide relief to money lenders, i.e., banks and financial institutions, the Union Cabinet has given green signal on long awaited amendments to the Insolvency and Bankruptcy Code. This amendment puts red bull’s eye on timelines and maximize the value of an insolvent entity from the resolution plan as a going concern.

Can Adjudication of Counter Claim be stayed in Purview of Moratorium Declared on Corporate Debtor?

July 18, 2019 3879 Views 0 comment Print

The Court held that Plaintiff’s and the Defendant’s claim needs to be adjudicated comprehensively by the same forum. Till the defence is adjudicated, there is no threat to the assets of the Plaintiff and the continuation of the counter claim would not adversely impact its assets.

IP not responsible for appointment as IRP in CIRP if he conveyed of expiry of his registration

July 17, 2019 681 Views 0 comment Print

It, therefore, appears that despite making it clear that he did not have a valid registration as an IP, he was made to serve as the IRP in the CIRP. In such circumstances, it is difficult to hold Mr. Mallik liable for contravention of section 206 of the Code. In view of this, I dispose of the notice without any direction.

All about resolution plan under Insolvency and Bankruptcy Code, 2016

July 16, 2019 74502 Views 3 comments Print

Resolution Plan A resolution plan is a proposal that aims to provide a resolution to the problem of the corporate debtor’s insolvency and its consequent inability to pay off debts. It needs to be approved by the committee of creditors (“COC”), and comply with mandatory requirements prescribed in IBC. Section 5(26) of IBC, 2016 -“Resolution […]

Budget 2019: Measures for resolution of distressed companies

July 8, 2019 2139 Views 0 comment Print

The existing provisions of section 79 are not applicable to a company where any change in shareholding takes place in a previous year pursuant to a resolution plan approved under the Insolvency and Bankruptcy Code, 2016 (IBC) subject to the condition that jurisdictional Principal Commissioner or Commissioner is provided a reasonable opportunity of being heard. […]

IBBI Clarifications reg. Application for Empanelment of Providers of Platform for Distressed Assets

July 6, 2019 627 Views 0 comment Print

The Insolvency and Bankruptcy Board of India (IBBI) vide its notice dated 12th June, 2019 invited applications for Empanelment of Providers of Platform for Distressed Assets (PDAs). In this regard, a pre-application meeting was held at IBBI’s office on 26th June, 2019. Certain queries were raised during the meeting as also were forwarded through email. In accordance with clause 7B and 7C (Page 14) of the said notice, clarification in respect of the following queries are given below:

Bachelor of Engineering (Agriculture) cannot be granted registration as registered valuer

July 6, 2019 837 Views 0 comment Print

He claims that he has studied eights subjects of Mathematics (Mathematics I, Mathematics II, Mathematics III, Mathematics IV, Mathematics V, Mathematics VI, Mathematics VII, and Mathematics VIII), and since civil engineering includes mathematics, he has studied eight civil engineering subjects. Further, most of the Engineering Courses have some common foundational subjects such as English, Mathematics, […]

Branding’ under Insolvency: Ignored Valued Asset!

July 5, 2019 3498 Views 1 comment Print

Intellectual Property Rightsare important intangible assets for anorganization. Corporates spend numerous resources to create value in a brand, which helps to create a different position in the market for their products. It helps to carve out niche market and also charge premium from customers. Innovation of new products and new shapes of products creates rights […]

‘Operational Creditors’ having disputed claim can avail remedy U/s. 60(6) of I&B Code

July 4, 2019 14022 Views 0 comment Print

During the submissions, Mr. Harish Salve, learned Senior Counsel appearing on behalf of ‘ArcelorMittal India Pvt. Ltd.’ submitted that once a ‘Resolution Plan’ is approved then under Section 31 of the ‘I&B Code’, it is binding on the ‘Corporate Debtor’ and its employees, members, creditors, guarantors and other stakeholders involved in the ‘Resolution Plan’. According to him, this is the most important change brought by the ‘I&B Code’, over its progenitor- the ‘Sick Industrial Companies Act’.

Debt recovery mechanism strengthened with enactment of IBC, 2016

July 4, 2019 699 Views 0 comment Print

Taking note of the recent successes in recovery of loans since the Insolvency and Bankruptcy Code, 2016 came into effect, the Survey proposes further strengthening of the National Company Law Tribunals (NCLT) and the appellate tribunal.

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July 2024