Corporate Law : NCLAT held that the CoC may decide to liquidate a corporate debtor under Section 33(2) before inviting resolution plans, with limi...
Corporate Law : This article explains why the Insolvency and Bankruptcy Code places commercial decision-making in the hands of the Committee of Cr...
Corporate Law : The article explains how the NCLAT interpreted Section 66(1) to extend liability beyond company insiders to third parties who know...
Corporate Law : The Supreme Court held that individuals investing for financial returns rather than home ownership cannot invoke Section 7 of the ...
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Corporate Law : IBBI has proposed amendments to CIRP, Liquidation, and Personal Guarantor Regulations to improve valuation, clarify RP duties, sim...
Corporate Law : The proposed amendments require comprehensive project-wise disclosures, technical assessments, and mandatory information in resolu...
Corporate Law : The Ministry of Corporate Affairs highlighted that the IBC resolution process facilitated creditor recoveries exceeding ₹4 lakh ...
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Corporate Law : The Supreme Court upheld joint insolvency proceedings against two interconnected real estate companies due to common management an...
Corporate Law : Bombay HC held that Section 14 IBC moratorium does not prevent deemed conveyance under Section 11 MOFA and restored the society's ...
Company Law : Kerala HC held Rule 55 empowers NCLT to accept additional pleadings, setting aside refusal to entertain further objections in a Se...
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Corporate Law : Supreme Court held that a Section 7 IBC application can proceed despite pending winding-up proceedings where no irreversible stage...
Corporate Law : NCLT admitted the Section 9 petition after holding that campaign-related emails did not constitute a genuine pre-existing dispute....
Corporate Law : IBBI cancelled an IP’s registration over systemic CIRP misuse, flawed valuations, non-disclosures, compliance failures and lack ...
Corporate Law : IBBI has released the Phase 10 syllabus for the Limited Insolvency Examination, effective from October 1, 2026, to reflect evolvin...
Corporate Law : The First Appellate Authority directed the CPIO to dispose of the RTI application after finding it was not decided within the 30-d...
Corporate Law : The Disciplinary Committee found that the Resolution Professional delayed admission of a financial creditor's claim and failed to ...
Corporate Law : The Disciplinary Committee imposed a two-year suspension after finding failures in claim verification, unauthorized financial deci...
Interpretation of GST dues within IBC framework in India has been a subject of legal deliberation and evolving jurisprudence. Here are some key aspects related to interpretation of GSTdues in IBC
Since, no discussion was done on the fees of RV, the IBBI DC found IP in contravention of section 208(2)(a) of the Code, regulation 7(2)(a), (h) and (i) of the IP Regulations, regulation 31A(1)(a) of Liquidation Regulations read with clauses 2, 3 and 14 of the Code of Conduct and Board Circular dated June 12, 2018.
Modified Resolution Plan cannot be directly presented to NCLT without receiving final approval from the Committee of Creditors (COC).
Explore the crucial coordination between the Committee of Creditors (COC) and Insolvency Professionals (IP) in the insolvency ecosystem. From the importance of transparent decision-making by COC to timely assistance for interim finance, delve into the complexities of the Insolvency and Bankruptcy Code. Understand the key roles of COC and IP in ensuring the business of the Corporate Debtor as a going concern. Navigate the challenges and legal nuances for effective insolvency resolution.
The IP submitted that in order to realize the maximum value for all stakeholders, the liquidator is maintaining the business of the CD on going concern basis as recommended by the CoC. He submitted that the CD was intended to be liquidated as a going concern through e auction mode as provided in IBBI (Liquidation […]
IBBI observed that Mr. Amit Gupta has charged the excess fess as the liquidator of the CD and held the prima facie view that he has inter alia violated section 35(1)(d) & (o) and 208(2)(a) & (e), regulation 4(2) of the Liquidation Regulations and regulation 7(2)(h) of IP Regulations read with clauses 1, 3 and […]
IBBI disposes of SCN with the direction to RV to be cautious in preparation of valuation report. He should henceforth endeavour to record all the relevant facts in the report itself.
The valuation report is based on the professional opinion of the valuer backed by his expertise and skills. Therefore, a valuation report is inherently remains subjective in nature. However, it must be kept in mind that the reliability of the valuation report increases with enhanced reliance on objective criteria. Therefore, it is necessary that all […]
The RV has placed on record the computation sheet utilised by him in preparing the valuation report. On perusal of the computation sheet, it can be presumed that the RV has considered certain factors such as year of purchase, source of the market price considered, adjustment value for year of make, etc. to arrive at […]
The sub-regulation (1) and (10) of Regulation 31A of IBBI (Liquidation Process) Regulations, 2016, requires a liquidator to take advice of consultation committee in respect of sale under regulation 32 and such advice shall not be binding on the liquidator: Provided that where the liquidator takes a decision different from the advice given by the […]
