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Corporate Law : Liability pertaining to personal guarantors under IBC, 2016 has evolved significantly with legal framework extending its reach to ...
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Corporate Law : Overview of IBC 2016's impact, amendments, and government's stance on further changes, including flat registration in insolvency c...
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Corporate Law : NCLT rejects CIRP Initiation as Notice sent to incorrect address, default amounts falling within the Section 10-A period, the inco...
Corporate Law : IBBI Appellate Authority upholds 6-month suspension of Registered Valuer Nitin Ashok Garg, citing deficiencies in his liquidation ...
Corporate Law : BBI suspends IP Vikas Prakash Gupta for one year for receiving fees designated for a separate support agency, violating transparen...
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Corporate Law : IBBI disciplinary order suspends IP Jitendrakumar Yadav for 1 year for IBC violations in Dilip Chhabria & Maha Urja cases, citing ...
NCLT Mumbai held that application u/s. 9 of the Insolvency and Bankruptcy Code [IBC] after three years of MSME Council Awards is beyond limitation as per Article 137 of the Limitation Act. Accordingly, application dismissed as barred by limitation.
NCLAT Delhi held that appeal against an order of NCLT initiating insolvency resolution process of personal guarantor lays to NCLAT. Thus, personal guarantor eligible to file an appeal u/s. 61 of IBC against order issued u/s. 100.
NCLT Kolkata held that One Time Settlement proposal given by Corporate Debtor to Financial Creditor is a clear acknowledgment of debt and default. Hence, application filed by Financial Creditor u/s. 7 of IBC for initiating CIRP against S R Timber Products Private Limited admitted.
Discrepancies in financials prompted the Appellant to seek clarifications from Personal Guarantors – Respondents No. 2 and 3, and the late Mr. Bajrang Dass Aggarwal, who provided explanations on 25.02.2020.
NCLT Mumbai held that invocation of provisions of section 7 of the Insolvency and Bankruptcy Code against corporate guarantor not maintainable as financial creditor not able to establish invocation of corporate guarantee.
NCLT Mumbai held that the private sale has to be conducted by the liquidator in a manner so as to maximize the realizations from the sale of assets. Since strategy to maximize realisation from sale of assets absent.
NCLAT Delhi held that penalty under section 27(b) of the Competition Act, 2002 imposable since Google has abused its dominant position and has violated Section 4(2)(a)(i) and 4(2)(e) of the Competition Act, 2002.
NCLAT Delhi held that adjudicating authority, not solely relying on the resolution professional’s report, needs to conduct an independent assessment under section 100 of the Insolvency and Bankruptcy Code, 2016.
Bombay High Court held that demand in respect of the duty drawbacks post approval of resolution plan is liable to be waived off in terms of section 31A of the Insolvency and Bankruptcy Code, 2016. Accordingly, writ stand allowed.
IBBI’s First Appellate Authority rejects Arush Mittal’s RTI appeal for RP’s complaint reply, citing third-party personal information exemption.
