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...
Regulation 27 of the CIRP Regulations requires a RP to appoint two registered valuers within seven days of his appointment but not later than forty-seventh day from the insolvency commencement date (ICD). Valuation is a quintessential part of the CIRP and is crucial to formulate a compliant resolution plan. Timely appointment of valuers is vital to completion of CIRP in a time bound manner. However, it has been observed that there has been inordinate delay in appointment of valuers by Mr. Shah in the following 4 assignments, the details of which are as under:
SC held that (i) prohibition placed by the Parliament in Section 29A and Section 35(1)(f) of the Insolvency and Bankruptcy Code, 2016 (IBC) must also attach itself to a scheme of compromise or arrangement under Section 230 of the Companies Act, 2013 (Act of 2013), when the company is undergoing liquidation under the auspices of the IBC,
IBBI extends the validity of the Insolvency and Bankruptcy Board of India (Online Delivery of Educational Course and Continuing Professional Education by Insolvency Professional Agencies and Registered Valuers Organisations) Guidelines, 2020 till 30th September, 2021.
Guidelines For Appointment of Insolvency Professionals As Administrators Under The Securities And Exchange Board Of India (Appointment Of Administrator And Procedure For Refunding To The Investors) Regulations, 2018 Insolvency and Bankruptcy Board of India 9th March 2021 The Securities and Exchange Board of India (Appointment of Administrator and Procedure for Refunding to the Investors) Regulations, […]
As per information provided by Insolvency and Bankruptcy Board of India (IBBI), the Regulator, as on 31.12.2020, in 317 cases resolution plans have been approved and 1126 cases have been ordered for liquidation.
Public comments are hereby invited on recommendations of Sub-committee of ILC on Pre-packaged Insolvency Resolution Process. Suggestion/comments, if any, along with brief justification may be submitted online therein at the below mentioned web link by the end of business hours on 22nd January, 2021:
The jurisdiction of the NCLT under Section 60(5)(c) of the Code cannot be invoked in matters where a termination may take place on grounds unrelated to the insolvency of the CD. It cannot even be invoked in the event of a legitimate termination of a contract based on an ipso facto clause, if such termination will not have the effect of making certain the death of the CD.
Insolvency and Bankruptcy Code (IBC) seeks to provide resolution to a Corporate Person and also Individuals or partnership firms in case of default is made by such persons in making payment which is due and payable to another person. The code for the purpose of Corporate person operates with the object to initially try and […]
1. (1) These Regulations may be called the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2021. (2) They shall come into force on the date of their publication in the Official Gazette.
Section 14 of IBC covers proceeding under Section138/141 against a corporate debtor but not against natural persons The Apex Court vide its order dated 01.03.2021 in P Mohanraj v. M/S Shah Brothers Ispat Pvt Ltd ruled that the institution or continuation of a proceeding under Section 138/141 of the Negotiable Instruments Act (NI Act) will […]
