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...
Before discussing the above subject matter, let us first understand what PMLA is and what is IBC As per Insolvency and Bankruptcy code 2016, if any person who has taken any loan and committed default, then the application can be filed in front of the Hon!ble National Company Law Tribunal As per section 3(23) the […]
IBC Has Been Suspended For Defaults Occurring After 25/03/2020: Alternative Forums Where Creditors Can Approach For Recovery The Insolvency and Bankruptcy Code of 2015 (IB Code) was enacted and brought into force to safeguard the interest of all the stakeholders in the process of providing credit/debt to various establishments. However, the interest of the creditors […]
one of the essential conditions for undertaking any assignment by an IP is that he should have a valid AFA which is issued by the IPA with which he is enrolled. In other words, without AFA, an IP is not eligible to undertake assignments or conduct various processes thereof after 31st December, 2019. Regulation 7A was […]
Insolvency and Bankruptcy Board of India (Press Release) No. IBBI/PR/2020/13 30th September 2020 Limited Insolvency Examination w.e.f 1st January 2021 The Insolvency and Bankruptcy Board of India hereby publishes the syllabus and details of the Limited Insolvency Examination (Examination) under regulation 3 (3) of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 […]
The Government has issued a fresh Notification No. S.O. 3265(E) dated 24th September, 2020 extending the suspension of Sections 7, 9 and 10 [meant no fresh insolvency filings could be made by financial creditors, operational creditors, and the corporate debtor itself] of the Insolvency and Bankruptcy Code by another three months. The suspension was due […]
Corporate insolvency resolution process (CIRP) can be commenced when a corporate debtor commits a default – section 4(1) of Insolvency and Bankruptcy Code, 2016 (IBC). The default should be minimum Rs. one lakh. The amount can be increased by Central Government but shall not exceed Rs. one crore – proviso to section 4(1). ‘Default’ means non-payment of […]
Section 10A. Notwithstanding anything contained in sections 7, 9 and 10, no application for initiation of corporate insolvency resolution process of a corporate debtor shall be filed, for any default arising on or after 25th March, 2020 for a period of nine months or such further period, not exceeding one year from such date, as may be notified in this behalf:
These rules may be called the Insolvency and Bankruptcy (Application to Adjudicating Authority) (Amendment) Rules, 2020. (2) These rules shall come into force from the date of their publication in the Official Gazette.
(1) This Act may be called the Insolvency and Bankruptcy Code (Second Amendment) Act, 2020. It shall be deemed to have come into force on the 5th day of June, 2020.
Department of Financial Services had issued as advisory dated 26.8.2020 to Public Sector Banks that they may consider putting in place a mechanism for monitoring the cases which may require initiation of individual insolvency process before NCLT
