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...
Article contains updated with respect to Notifications, Circulars, Rules, Regulations issued in the Month of January 2021 by Ministry of Corporate Affairs (MCA), Securities Exchange Board of India, Updates of the Reserve Bank of India (RBI), Insolvency and Bankruptcy Board of India (IBBI) and also includes Recent Corporate News. Article attempts to analyses Notifications, Circulars, […]
Providing copy of application to the Board, as mandated under Rule 9 of the Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019. Insolvency and Bankruptcy Board of India 7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001 CIRCULAR No. IBBI/II/39/2021 2nd February, 2021 To All […]
In the matter of CIRP of Murli Industries Limited, the DC notes that the invoices for the services rendered by Mr. Iyer were raised in the name of his firm, i.e., DTTILLP. Section 206 of the Code clearly provides that only individual (person) can render services as an IP. Section 5 (13) defines the term […]
Judgment dated 1st February, 2021 of the Hon’ble Supreme Court of India in the matter of Phoenix Arc Private Limited Vs. Spade Financial Services Limited & Ors. [Civil Appeal No. 2842 of 2020 with Civil Appeal No. 3063 of 2020]
Judgment dated 19th January, 2021 of the Hon’ble Supreme Court of India in the matter of Manish Kumar Vs. Union of India and Another [WP(C) No. 26 of 2020 with 40 other writ petitions]
Take notice that the Chennai Bench of National Company Law Appellate Tribunal (NCLAT) will start its functioning from 25.01.2021 through Virtual Mode.
Ashutosh Gupta & Gaurav Rana Supreme Court provided a window of two month from the order to the applicants/homebuyers to approach the NCLT after complying the first or second proviso to Sub-Section 1 to Section 7 of the IBC. The Supreme Court on Tuesday in batch matters lead by Manish Kumar Vs UOI WP(C) No. […]
Manish Kumar Vs Union of India (Supreme Court) The petitioners have approached Supreme Court under Article 32 of the Constitution of India. They call in question Sections 3, 4 and 10 of the Insolvency and Bankruptcy Code (Amendment) Act 2020. Court held as follows:- We uphold the impugned amendments. However, this is subject to the […]
These regulations may be called the Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Amendment) Regulations, 2021.
In the matter of Mr. Girish Siriram Juneja, Insolvency Professional (IP) under Regulation 11 of the Insolvency and Bankruptcy Board of India (Insolvency Professional) Regulations, 2016
