Corporate Law : Learn about IBBI's new rule for generating a unique Valuation Report Identification Number (VRIN) for valuations under the Insolve...
CA, CS, CMA : Highlights from August 5-11, 2024: Income Tax exemptions, GST updates, SEBI guidelines, and RBI monetary policy changes....
Corporate Law : Explore how the NCLT's inherent power to recall orders under the IBC ensures justice by addressing procedural errors. Learn about ...
Corporate Law : Explore the pros and cons of the Insolvency and Bankruptcy Code, 2016. Understand its impact on insolvency proceedings in India....
CA, CS, CMA : Discover IBBI Circular No. IBBI/LIQ/74/2024 dated 28-06-2024 on voluntary liquidation processes under the Insolvency and Bankruptc...
Corporate Law : SC rules on Special Court jurisdiction; NCLAT redefines financial debt; HC upholds IBBI regulations and addresses various insolven...
Corporate Law : New guidelines for the Committee of Creditors by IBBI focus on enhancing decision-making, transparency, and efficiency in insolven...
Corporate Law : Learn about the new guidelines by IBBI for Insolvency Professionals acting as IRPs, Liquidators, RPs, and BTs. Details on eligibil...
Corporate Law : IBBI updates the progress report format for liquidation processes, seeking comments by July 12, 2024. Learn about the new requirem...
Corporate Law : IBBI invites comments on proposed amendments to CIRP regulations, focusing on valuation processes, MSME treatment, voting protocol...
Corporate Law : NCLT Amravati held that application filed by SBI (creditor) u/s. 95 of the Insolvency and Bankruptcy Code, 2016 for initiation of ...
Income Tax : Delhi High Court held that reassessment action under section 148 of the Income Tax Act post approval of the resolution plan unsust...
Corporate Law : NCLT Mumbai rules in favor of Piramal Capital, allowing Insolvency Professional Entities to be appointed as Resolution Professiona...
Corporate Law : NCLT Mumbai held that as per section 32A of the Insolvency Bankruptcy Code, 2016, the Corporate Debtor shall not be held liable fo...
Corporate Law : NCLAT Delhi held that electricity supply by NPCL, being in nature of supply of essential goods, was necessary to be continued duri...
Corporate Law : IBBI amends Inspection and Investigation Regulations, extending the response period to show-cause notices to 60 days from the due ...
Corporate Law : IBBI updates Information Utilities Regulations with new timelines and verification procedures starting October 2024, improving def...
Corporate Law : IBBI's ruled that mere association with a promoter does not automatically disqualify a Resolution Applicant under Section 29A unle...
Corporate Law : The IBBI Disciplinary Committee disposes of SCN against Insolvency Professional Brijendra Kumar Mishra, advising re-examination af...
Corporate Law : IBBI disciplinary order finds Mr. Vijendra Kumar Jain guilty of negligence and failure in handling claims under CIRP, with implica...
Nitin Jain Liquidator PSL Limited Vs Enforcement Directorate (Delhi High Court) A. The Court notes that the reliefs as framed in the writ petition essentially seek a restraint against the respondent from interfering in the liquidation process which had been set in motion. That challenge cannot stand eclipsed merely on account of the issuance of […]
Asis Global Ltd. V. Dy. Commissioner of State Tax (NCLT Mumbai) 1. The above present Interlocutory Application has been filed by the Liquidator against the Respondent Dy. Commissioner of State Tax (Respondent No. 1) and Axis Bank Limited (Respondent No. 2) seeking direction from this Tribunal to unfreeze/lift the attachment on the Bank Account of […]
Supreme Court Franklin Templeton Trustee Services Private Limited and another Vs. Amruta Garg and others etc. [Civil Appeal Nos. 498-501 of 2021 with other appeals] The Supreme Court (SC) held that home buyers are to be treated as creditors till the ownership rights in the property are not transferred to them, but they do not […]
An IRP / RP is appointed by the AA and is duty bound to conduct CIRP with fairness and diligence and must maintain absolute independence in discharge of his statutory duties without any external influences. The entire resolution process of a CD is dependent on the IRP/ RP who is primarily responsible for efficiently and […]
Committee of Creditors of Amtek Auto Limited Vs Dinkar T. Venkatsubramanian (Supreme Court of India) Facts- Resolution process was initiated against Amtek Auto Limited. Resolution plan submitted by Liberty came to be approved by NCLT, Chandigarh. However, the successful resolution applicant- Liberty didn’t act as per the approved resolution plan. An application u/s 60(5) read […]
Application for initiation of Corporate Insolvency Resolution Process (CIRP) against Reliance Capital Ltd. filed under the Insolvency and Bankruptcy Code, 2016
VOLUNTARY LIQUIDATION OF CORPORATE PERSONS Voluntary Liquidation: voluntary liquidation refers to dissolution of a solvent corporate debtor with the approval of shareholders of the Company. It is a liquidation process with minimum intervention of court. Reasons for voluntary liquidation: When a corporate entity is incorporated for a particular purpose and such purpose has been accomplished, […]
Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) Guidelines, 2021
The Insolvency and Bankruptcy Board of India hereby publishes the syllabus and details of the Limited Insolvency Examination (Examination) under regulation 3 (3) of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 for the examination to be conducted from 1st March 2022.
Insolvency and Bankruptcy Code of 2016 has undergone many amendments till date. However, as the code is being brought into practice more and more scope of betterment could be seen. Recently it has been in news that it will undergo an amendment whose bill will be proposed in the upcoming winter session of the Parliament. […]
