IBC 2016 - Page 4

Settlement in IBC Section 7 Proceedings Does Not Conclude Section 43 Actions: NCLT

Black Rock Financial Services Private Limited Vs Piramal Capital & Housing Finance Limited (NCLT Mumbai)

NCLT Mumbai clarifies in Black Rock Financial Services vs Piramal Capital case: Settlement or dropping Sec. 66 doesn't end proceedings under Sec. 43 automatically....

Posted Under: Corporate Law | |

IBBI circular on Sharing Resolution Professional’s Report with Debtor & Creditor

Circulars No. IBBI/II/66/2024 12/02/2024

Ensuring transparency in insolvency proceedings by mandating sharing of the RPs report under Section 99 of the IBC 2016 with both debtor and creditor....

IBBI (Liquidation Process) (Amendment) Regulations, 2024

Notification No. IBBI/2023-24/GN/REG112 and Press Release No. IBBI/PR/2024/07 12/02/2024

Discover the latest amendments to the IBBI Liquidation Process Regulations, effective from February 2024, enhancing transparency and efficiency....

Simultaneous CIRP Allowed for Principal Borrower & Corporate Guarantor: NCLT

State Bank of India Vs Anupriya Management Private Limited (NCLT Kolkata)

NCLT Kolkata allows simultaneous Corporate Insolvency Resolution Process (CIRP) against State Bank of India and Anupriya Management Private Limited, the corporate guarantor....

Posted Under: Corporate Law | |

Fate of Employees, When Employers Faces IBC Proceedings : A Legal Analysis

Explore the vital role of the Insolvency and Bankruptcy Code (IBC) in protecting employee rights during corporate insolvency, highlighting key legal provisions and judicial decisions....

Posted Under: Corporate Law |

Properties covered under approved resolution plan cannot be provisionally attached u/s 5(1) of PMLA

Canara Bank Vs Deccan Chronicle Holdings Limited (NCLT Hyderabad)

NCLT Hyderabad held that provisional order of attachment u/s. 5(1) of the PMLA of the properties of the corporate debtor covered under the approved resolution plan would not wipe of the protection available to such properties u/s. 32A of I&B Code....

Posted Under: Corporate Law | |

Resolution plan approved by CoC meets requirements of section 30(2) stands approved: NCLT Hyderabad

IDBI Bank Limited Vs Sindhanur Gangavathi Tollways Pvt Ltd (NCLT Hyderabad)

NCLT Hyderabad approved the resolution plan submitted by Resolution Professional of M/s. Sindhanur Gangavathi Tollway Private Limited (Corporate Debtor) as the resolution plan as approved by CoC meets the requirements specified in Section 30(2) of the Code....

Posted Under: Corporate Law | |

‘Shareholder’ cannot challenge Resolution Plan: NCLAT Chennai

NCLAT rules shareholders have no standing to challenge resolution plans in insolvency cases, emphasizing creditors control and commercial wisdom....

Posted Under: Corporate Law |

NCLT lacks authority to declare assessment order as void under IBC: Kerala HC

Deputy Commissioner (Works Contract) Vs NCLT (Kerala High Court)

Kerala High Court reverses NCLT's order declaring a tax assessment void in Deputy Commissioner vs NCLT case. Detailed analysis and implications provided....

How to file a Claim before a Resolution Professional in a CIRP?

Understand the process of filing a claim before a Resolution Professional in Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code....

Posted Under: Corporate Law |

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