Company Law : Explore four legal methods to voluntarily wind up a private company in India, including summary winding up, strike-off, and liquid...
Corporate Law : Liability pertaining to personal guarantors under IBC, 2016 has evolved significantly with legal framework extending its reach to ...
Corporate Law : There’s a lack of real space to unpack the inappropriateness of certain aspects of IBBI’s 2025 reforms is difficult: the refor...
Corporate Law : Learn how secured creditors can relinquish or realize their security interest during liquidation under IBC, including timelines an...
Corporate Law : The initiation of Corporate Insolvency Resolution Process (CIRP) under Sections 7-10 of the IBC involves different creditors and p...
Corporate Law : IBBI's First Appellate Authority dismisses Ravinder Aggarwal's RTI appeal seeking details on MSA Developers' resolution plan imple...
Corporate Law : India's IBC shows significant recovery rates. 8,000+ CIRPs initiated, with 3,485 debtors rescued. Learn about amendments & reforms...
Corporate Law : Overview of IBC 2016's impact, amendments, and government's stance on further changes, including flat registration in insolvency c...
Corporate Law : Clarification on share certificate claims under Rs. 5 lakh, legal heir acceptance, and applicant authenticity measures by the Inve...
Corporate Law : Government clarifies the status of Barshi Textile Mills under IBC 2016, addressing worker payments, company status, and cooperativ...
Goods and Services Tax : Allahabad High Court rules GST demand for pre-CIRP period invalid after NCLT approves resolution plan, citing Supreme Court judgme...
Corporate Law : Supreme Court held that demand notice under section 8 of the Insolvency and Bankruptcy Code [IBC] can be served upon corporate deb...
Excise Duty : CESTAT Chennai dismisses tax appeals against Orchid Healthcare, ruling pre-resolution government dues not in NCLT plan are extingu...
Income Tax : Orissa High Court rules tax refund for pre-resolution period can be adjusted against old dues considered in NCLT approved plan, ci...
Company Law : NCLAT Delhi dismisses HDFC Bank's appeal to exclude mortgaged units from a resolution plan, citing lack of locus and issue with th...
Corporate Law : IBBI First Appellate Authority dismisses multiple RTI appeals, citing repetitive and overlapping requests as abuse of the Act, war...
Corporate Law : IBBI Appellate Authority upholds 6-month suspension of Registered Valuer Nitin Ashok Garg, citing deficiencies in his liquidation ...
Corporate Law : BBI suspends IP Vikas Prakash Gupta for one year for receiving fees designated for a separate support agency, violating transparen...
Corporate Law : IBBI DC warns IP Kushvinder Singhal for modifying a lease without prior CoC approval in Startlit Powers CIRP, citing procedural la...
Corporate Law : Information Commission disposes of an appeal regarding delayed RTI response from CPIO, emphasizing adherence to statutory timeline...
Report of the Committee of Experts to Examine the Need for An Institutional Framework for Regulation and Development of Valuation Professionals- VOLUME I – April 2020. Executive Summary A Profession is a disciplined group of individuals who adhere to ethical standards and who hold themselves out as, and are accepted by the public as possessing […]
On occurrence of default in repayment of financial debt of a company or LLP, the financial creditor either by itself or jointly with other financial creditors, or any other person on behalf of the financial creditor, as may be notified by the Central Government can file an application for initiating corporate insolvency resolution process(CIRP) against the company or LLP (In IBC say, corporate debtor) before the Adjudicating Authority(NCLT).
An insolvency application filed by an Operational Creditor U/s 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) can be resisted on the ground that there is an ‘existing dispute‘, the I&B Code does not provide for such a defence for resisting an insolvency application filed in respect of a financial debt U/s 7 […]
Whether the NCLT was correct in passing an order of initiation of the CIRP against a MSME without considering the fact that the minimum threshold limit of filing application in NCLT has been increased to Rs. 1 Crore?
In these days of COVID-19 outbreak, all over the world everyone is seeing the negative impact of this pandemic i.e. global economic slowdown, job losses, loss of human lives etc. These impacts are measured and witnessed through various surveys and reports by respective authorities and governments.
IBC refers to Insolvency and Bankruptcy Code, 2016, the Bankruptcy Law of India which seeks to consolidate the existing framework by creating a single law for insolvency and bankruptcy. Certain provisions on Insolvency Law deals with Micro, Small and Medium Enterprises (MSME’s) which are reproduce below for reference. 1. Section 29A of IBC, 2016: Insolvency […]
JUDICIAL RESPONSE: 1. Suo moto cognizance by Hon’ble Supreme Court in WP(C) No. 03/2020 dated 23.03.2020: Under exercise of power conferred under Article 141 and 142, Extension of limitation period in all proceedings irrespective of the limitation prescribes or not under the General or special law whether condonable or not. 2. Suo moto cognizance by […]
The Pandemic outburst of Covid-19 has not left India untouched in any manner. This Pandemic has not only affected the human beings but has also led the economy to doldrums. The journey of stalling of businesses in India prominently started with the onset of lockdowns in India. The lockdown was justified in the sense that […]
Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) Guidelines, 2020 Date of issue of Guidelines: 2nd June, 2020 Applicability: with effect from 1st July, 2020. There are two types of the Insolvency 1. Corporate Insolvency 2. Individual Insolvency Corporate Insolvency: The IBBI is required under IBC, 2016 to […]
Recent Amendments Under Companies Act, 2013 And Insolvency And Bankruptcy Code, 2016 Further to the official announcements made by the Hon’ble Finance Minister of India, Smt. Nirmala Sitharaman during the press conference held on the 24th day of March 2020, Ministry of Corporate Affairs and Ministry of Law and Justice, has notified certain amendments to vide […]
