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 ...
Corporate Law : The High Court held that a company cannot shift its registered office after approval of a resolution plan when appeals against the...
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 ...
Corporate Law : The IBBI has announced contractual vacancies for Research Associates and Consultants in law and business management disciplines. T...
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...
Corporate Law : NCLAT held that invoice discounting through the TReDS platform does not convert operational debt into financial debt. The appeal w...
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...
The DC notes that Preamble of the Code makes it clear that all out efforts are to be made for resolution of the Corporate Debtor. CoC having sole FC has shown undue haste in reaching the conclusion, that CD has to be pushed towards direct liquidation. In the process, it discouraged the RP from even […]
Explore various exit modes for voluntary winding up of a company, including strike off and winding up under the Companies Act and Insolvency and Bankruptcy Code.
Insolvency and Bankruptcy Board of India 7th Floor, Mayur Bhawan, Connaught Place, New Delhi – 110 001 Circular No. IBBI/LAD/58/2023 04th March, 2023 To All Registered Insolvency Professionals All Recognised Insolvency Professional Entities All Registered Insolvency Professional Agencies (By mail to registered email addresses and on website of the IBBI) Dear Madam / Sir, Subject: Serving […]
Notification No. 09/2023- Income Tax Dated: 01st March, 2023 CBDT notifies Tax Exemption to Insolvency and Bankruptcy Board of India, a Board established by the Central Government, in respect of specified income under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 09/2023- Income […]
NCLAT Delhi held that regulation 33 of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, the operational credit (i.e. the person filing CIRP application) is liable to bear the expense/ fees of Interim Resolution Professional.
IBBI notes the submission of Ms. Gunjan Agarwal that she has done aging analysis of trade receivables and thereby categorized in six categories A (15%) to E (2.5%) and that some debtors whose balance consists of 2 categories, i.e., within 2 years and also included an amount outstanding for more than 2 years, accordingly FV […]
The Authority does not agree with the assumption of Mr. Sandeep Kumar Agarwal that as a normal banking practice Corporation Bank would definitely adjust this FD against its dues and accordingly nil amount is considered. Mr. Sandeep Kumar Agarwal did not check with banks or liquidator whether actual adjustment has been done and whether the […]
Delhi High Court held that as per law laid down by the Supreme Court in Ghanashyam Mishra, all dues including statutory dues shall stand extinguished and no proceedings in respect of dues for period prior to date on which approval to resolution plan is granted could be continued.
ITAT Delhi held that as per specific provisions covered under section 178(6), Insolvency and Bankruptcy Code, 2016 has an overriding effect on all the acts including Income Tax Act.
NCLAT Delhi held that the dues of income tax department are Government dues and they are secured creditors.
