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NCLAT Delhi held that default of instalment of Settlement Agreement does not come within the definition of operational debt as it does not fall within the definition of additional debt as per Section 5(21) of the IBC.
it is found that Mr. Prakash had neither disclosed the appointment of his brother through M/s Ibay Capital before the CoC nor made relationship disclosure of engagement of M/s Ibay Capital on the website of the IPA. Further, the valuation report was submitted by M/s iVas Partners whose appointment or fee was not approved/ratified by […]
Appellants are the erstwhile Promoters and therefore they cannot be continued to be in the Company in any capacity may be as shareholders as if they continue Resolution Plan shall not be workable at all.
IBBI notifies Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Amendment) Regulations, 2022
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 3rd October, 2022 Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Amendment) Regulations, 2022 No. IBBI/2022-23/GN/REG100.—In exercise of the powers conferred by sections 196, 203 and 205 read with section 240 of the Insolvency and Bankruptcy Code, 2016 […]
Understanding the concept of a going concern entity in insolvency. Learn about the legal aspects and recovery prospects for lenders in corporate liquidation.
In present facts of the case, the Hon’ble NCLT while taking into consideration the Interlocutory Application u/s. 60(5) of Insolvency and Bankruptcy Code, 2016, have observed that moratorium under Section 14 would not be applicable to the properties wherein the possession of the Corporate Debtor is unlawful
An IPE, recognised by IBBI, can seek registration as an IP with IBBI, by making an application in specified form along with a non-refundable application fee of two lakh rupees
A bare perusal of the provisions of Valuer Rules makes its apparent that there is no such specific bar on Directors from discharging operational duties and especially when they are facing financial constraints.
IBBI Circular No. IBBI/RV/019/2018 dated 17.10.2018 which mandates the liquidator to appoint only registered valuers with effect from 01.02.2019 to conduct valuation under the Code and Regulations made thereunder.
