Corporate Law : Understand Corporate Insolvency Resolution Process (CIRP) in India, from initiation and moratorium to resolution plan approval and...
Corporate Law : Pursuant to approval of Resolution Plan by the Adjudicating Authority under Insolvency & Bankruptcy Code, 2016, has presuppose wai...
Corporate Law : Insights into recent Supreme Court and High Court judgments on IBC cases, covering corporate guarantees, auction timelines, liquid...
Corporate Law : Explore the legal complexities of CIRP withdrawals and the protection of creditor rights under the Insolvency and Bankruptcy Code ...
Corporate Law : Explore the issues surrounding green channel approvals in India's Corporate Insolvency Resolution Process and alternative solution...
Corporate Law : IBBI dismisses multiple RTI appeals citing misuse of the RTI Act through repetitive filings. The order emphasizes responsible use ...
Corporate Law : RTI Act permits access only to information held by a public authority and does not require the creation or interpretation of infor...
Corporate Law : Key IBC case law updates from Oct-Dec 2024, covering Supreme Court and High Court decisions on CoC powers, resolution plans, relat...
Corporate Law : The Government clarified that no cooperative sector companies in Maharashtra are declared corrupt under IBC, 2016, and Barshi Text...
Corporate Law : IBBI denies RTI appeal citing fiduciary exemption under Section 8(1)(e). The requested MSME-related information was withheld. Appe...
Income Tax : ITAT Mumbai restores MITC Metals case for fresh adjudication, ruling that assessment order was not void ab-initio despite ongoing ...
Corporate Law : NCLAT Delhi ruled that a single homebuyer cannot challenge a resolution plan approved by the CoC. The decision follows Supreme Cou...
Company Law : The plain reading of the above provisions of Section 60(5)(c) clearly indicates that the NCLT is empowered to adjudicate any quest...
Income Tax : Calcutta HC dismisses IT appeal against Subhlabh Steels due to ongoing insolvency under IBC, citing SC ruling in Monnet Ispat. Rea...
Service Tax : CESTAT Chennai ruled on Orchid Chemicals' appeal, citing insolvency resolution precedents. The appeal was abated following NCLT ap...
Corporate Law : IBBI rejects RTI appeal seeking detailed breakup of Dalmia Cement claims in Jaiprakash insolvency case, citing unavailability of d...
Corporate Law : IBBI rejects RTI appeal seeking clarifications on valuer registration, stating that opinions and justifications do not fall under ...
Corporate Law : IBBI disposes of SCN against IP in CIRP case, addresses claims dispute, and ongoing RoC investigation. Details of findings and DC'...
Corporate Law : The IBBI Disciplinary Committee has suspended Ms. Sonu Jain for one year due to delays and procedural lapses in the liquidation pr...
Corporate Law : IBBI suspends valuer for six months for non-transparent valuation in CIRP and liquidation of Base Corporation Ltd., citing violati...
Shri Jayanti Prasad took charge as Whole-time Member of Insolvency and Bankruptcy Board of India in New Delhi today.
The disciplinary proceedings shall be conducted in accordance with the provisions of the Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017.
These regulations may be called the Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2022.
The Madras High Court rules that IBC proceedings cannot affect the rights of the Income Tax Department to reopen assessments.
UCO Bank Vs GIT Textiles Manufacturing Limited (NCLT Kolkata) Corporate Debtor contended that the instant petition is barred by limitation. It can be seen that the date of default is mentioned to be 30.09.2012 i.e the date on which the account became NPA. Accordingly, the limitation period for filing the application would ordinarily end on […]
NCLT held that if a Guarantor pays the debt on behalf of the Principal Borrower, then it steps into the shoes of the Creditor and can initiate Corporate Insolvency Resolution Process (CIRP) again the principal borrower.
It is further declared by the Hon’ble Supreme Court that all claims not part of the resolution plan, shall stand extinguished and no person will be entitled to initiate or continue any proceedings in respect to a claim, which is not part of the resolution plan.
Petitioner states that impugned order and consequential notices of demand and penalty raising a demand of income tax amounting to Rs. 48 crores are in complete contravention of the order passed by NCLT
Explore the NCLT Mumbai order in Divyesh Desai case against DCIT Mumbai, directing the refund of TDS totaling Rs. 93,81,464 to the Corporate Debtor Company.
IBBI held that Mr. Yogesh Kumar Gupta had violated the provisions of the Code and regulations by deciding to remove the CoC members from the list of CoC and revise their voting share on the basis that some CoC members have not contributed to the CIRP cost, and stating before the CoC that no approval […]
