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...
It is for the NCLT to decide whether the matter before it ought to be decided or not, whether any injunction operates or impedes the progress of the matter before it and the parties cannot be asked to approach this Court for this Court to hand-hold the NCLT and guide it through its proceedings.
INTRODUCTION For any capitalist economy to survive, bankruptcy laws form an integral part of that economy. From every business be it a partnership, sole proprietorship or any limited liability company, bankruptcy laws help in the reorganization of the assorted assets of these corporations as well as the orderly dissolution of these assets. Therefore, from the […]
Immunity : The Government by the IBC amendment Act 2020 has inserted a new Section 32 A in the I&B Code to provide for immunity to the Corporate Debtor (Company) from offences committed in the past (Prior to the date of the Resolution Order). It has also been clarified that the provisions of the I&B […]
In M/s. Kotak Mahindra Bank Limited v. K. Bharathi and Ors [W.P.No.12957 of 2021 dated August 5, 2021], the petition has been filed under the writ of Mandamus directing the Hon’ble National Company Law Tribunal, Chennai (NCLT) to dispose of the application filed by M/s. Kotak Mahindra Bank Limited (the Petitioner) in MA No.538 of […]
(1) This Act may be called the Insolvency and Bankruptcy Code (Amendment) Act, 2021. (2) It shall be deemed to have come into force on the 4th day of April, 2021.
As per our view, there might not be any GST implications on the issuance of vouchers unless underlying goods or services are actually supplied as consideration, which is received towards issuance of voucher is in the form of deposit only.
Insolvency and Bankruptcy Board of India (IBBI) signs a Memorandum of Understanding (MOU) with National Stock Exchange (NSE) of India for research collaboration Insolvency and Bankruptcy Board of India Notification No. IBBI/PR/2021/17 6th August, 2021 Insolvency and Bankruptcy Board of India signs a Memorandum of Understanding with National Stock Exchange of India for research collaboration […]
It is five years now since the enactment of The Insolvency and Bankruptcy Code, 2016 and both the Financial Creditors and Operational Creditors have taken recourse under the Code for insolvency resolution. As per IBBI data, as of March 2021, with regard to realizations under resolutions, the recovery for all classes of creditors, as compared […]
Latest Update on IBC Gist of Report of Standing Committee on Finance ‘Implementation of IBC- Pitfalls and Solutions‘- on IBC 2016 On 28th July 2021 Lok Sabha had passed the Insolvency and Bankruptcy Code (IBC) Amendment Bill, 2021 and on 3rd August 2021 Rajya Sabha had passed the same and it has become Insolvency and […]
Om Logistics Limited & Anr. Vs M/s Ryder India Pvt. Ltd. (National Company Law Tribunal) In case the Sole Member/ Operational Creditor of the CoC was not interested in pursuing the CIR Process, the appropriate course could have been to file a withdrawal application under Section 12A of IBC, 2016. In the case Operational Creditor […]
