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...
Oriental Bank of Commerce Vs. M/s. Yamuna Infradevelopers Private Limited (NCLT Delhi) NCLT New Delhi Bench II set aside the termination of a contract that was terminated on account of non-payment of dues during CIRP period The Hon’ble National Company Law Tribunal, New Delhi Special Bench-II vide its judgement dated 04.03.2022 in IA No. 5484/2021 […]
Sumit Bansal, Insolvency Professional Vs Committee of Creditors of JP Engineers Pvt. Ltd. (NCLAT Delhi) NCLAT not agreed with the submissions of the Counsel for the Appellant that IBBI has no jurisdiction with regard to question of fee which is entitled to be paid to the IRP/ RP. The IBBI is clothed with Regulations making […]
Supreme Court M/s. Jai Balaji Industries Vs. D.K. Mohanty & Anr. [Civil Appeal No. 5899 of 2021 with 5904 of 2021] The Supreme Court (SC) observed that an operational creditor (OC) cannot use the Code for extraneous considerations or as a substitute for debt enforcement procedures; and the object of the Code is to allow […]
It is an admitted position that the Corporate Debtor hypothecated its assets in favour of indirect lenders under the DoH to secure the loans disbursed by them to the RCOM entities.
Date on which the Resolution Plan was approved by the learned NCLT, all claims stood frozen, and no claim, which is not a part of the Resolution Plan, would survive.
In the instant matter, the Authority finds that the chargesheet has been filed against Mr. Prabhu. The provisions of IPC under which charges have been framed are severe in nature and pertains to professional conduct of a valuer which are as follows – (a) Section 201- Causing disappearance of evidence of offence, or giving false […]
Ashish Chaturvedi Vs Inox Leisure Limited (NCLAT Delhi) With regard to the argument of the Learned Counsel of the Appellants that the Adjudicating Authority has imposed the penalty on the two ex-directors by invoking provisions of the Companies Act, 2013, and thus passed the Impugned Order by travelling beyond their jurisdiction, we are of the […]
Whether Financial Creditor of Holding Company Considered as Financial Creditor of Subsidiary in Case Loan to Holding Company Is Secured by Subsidiary Anuj Jain Interim Resolution Professional for Jaypee Infratech Limited Vs Axis Bank Limited Etc. (Supreme Court), Appeal Number : Civil Appeal Nos. 8512-8527 Of 2019, Date of Judgement/Order : 26/02/2020 Sub: The case essentially […]
In the instant matter, the SBI had made a complaint to CBI on 4th January, 2021 requesting it to lodge the complaint and carry out a detailed investigation into the fraudulent activities committed intentionally and knowingly by Shri. Paruchuri Kumar and his family members in collusion with the advocates, valuers, Sri Abdul Rawoof Pasha and […]
Go Airlines (India) Ltd. Vs Sovika Aviation Services Pvt. Ltd. (NCLAT Delhi) Heard Shri Krishnendu Datta, learned senior counsel for the Appellant and Shri Ritin Rai, learned senior counsel appearing for the Respondent. This Appeal has been filed against the order dated 23.09.2021 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench by […]
