CA, CS, CMA : Discover IBBI Circular No. IBBI/LIQ/74/2024 dated 28-06-2024 on voluntary liquidation processes under the Insolvency and Bankruptc...
Corporate Law : Discover how Insolvency and Bankruptcy Code (IBC) protects homebuyers and other consumers, with a detailed analysis of financial a...
Corporate Law : Explore the Insolvency and Bankruptcy Code, 2016 alongside international bankruptcy laws, focusing on key differences, similaritie...
Corporate Law : Delhi HC's ruling on Tata Steel BSL Ltd. v. Venus Recruiters allows avoidance proceedings beyond CIRP, diverging from established ...
Corporate Law : Article explains various methods for voluntary company closure in India, including striking off, NCLT winding up, and voluntary li...
Corporate Law : Learn about the new guidelines by IBBI for Insolvency Professionals acting as IRPs, Liquidators, RPs, and BTs. Details on eligibil...
Corporate Law : IBBI updates the progress report format for liquidation processes, seeking comments by July 12, 2024. Learn about the new requirem...
Corporate Law : IBBI invites comments on proposed amendments to CIRP regulations, focusing on valuation processes, MSME treatment, voting protocol...
Corporate Law : Discover how the latest revisions in CIRP forms by IBBI aim to reduce the compliance burden on insolvency professionals and stream...
Corporate Law : The Insolvency and Bankruptcy Board of India issues guidelines for Insolvency Professionals to act as Interim Resolution Professio...
Corporate Law : Detailed analysis of the NCLT Mumbai judgment in SBI vs Navjeevan Tyres, addressing issues of loan recall notice and corporate gua...
Corporate Law : NCLAT Delhi upholds NCLT decision against Rolta Private Limited's assignment agreement as malafide, prolonging CIRP process. Full ...
Company Law : Explore the Calcutta High Court's decision in Uphealth Holdings, INC. Vs Dr. Syed Sabahat Azim & Ors. regarding the applicability ...
Goods and Services Tax : Detailed analysis of Competition Commission of India's order regarding Cinema Ventures Pvt Ltd not passing GST rate reduction bene...
Custom Duty : Gujarat High Court abates customs tax appeals in Commissioner Of Customs (Preventive) Vs General Foods Ltd., citing IBC Sections 3...
Corporate Law : Detailed analysis of IBBI Order 229/2024 on Mr. Narender Kumar Sharma, resolving a show-cause notice with significant findings and...
Corporate Law : Explore the IBBI's decision on Mr. Gopal Krishna Raju regarding violations under the Companies Act, 2013 and Valuation Rules, incl...
Corporate Law : Explore IBBI's Disciplinary Order No. IBBI/DC/228/2024 dated 11 July 2024 against Reshma Mittal, detailing the CIRP process, alleg...
Corporate Law : Read the detailed analysis of IBBI's Disciplinary Committee order against Narender Kumar Sharma, an Insolvency Professional, regar...
Corporate Law : IBBI suspends & Penalises RP For submitting a revised resolution plan to the Adjudicating Authority (AA) without obtaining the fin...
IBBI held that it is evident that there was avoidable delay on the part of Mr. Rajput in filing application under Section 19(2) of the Code for non-cooperation of directors/promoters of CD, in taking control of assets of CD, in appointing registered valuers and in publication of Form G and he did not operate the […]
IBBI observes that procedural contraventions fall in the category of minor procedural deviations, hence IBBI inclined to take a lenient view
The Authority finds that since valuation is more of a subjective exercise, a valuation report must be transparent and set out all the necessary information and assumptions behind the valuation estimate provided by a valuer so as to enable the stakeholders to form a judicious economic opinion on the report. The RV acknowledged that since […]
Victory Iron Works Ltd. Vs Jitendra Lohia (Supreme Court of India) The main ground of attack of the appellants to the impugned orders of the NCLT and NCLAT is that by virtue of the Explanation under Section 18 of the Code and also by virtue of the judicial pronouncements, the disputes between the Corporate Debtor […]
Himachal Pradesh High Court held that PMLA [Prevention of Money Laundering Act, 2002] would cease the power to attach the property when the order of liquidation has already been passed.
Rajasthan State Mines & Minerals Ltd Vs Parag Sheth & Ors (NCLAT Delhi) It is observed that direction issued by the Adjudicating Authority are final direction allowing an application filed by the RP without issuing notice to the Appellant. Learned Counsel for the Appellant submits that the directions could not have been issued without hearing […]
DC is of the view that two serious contraventions have established beyond doubt. Firstly his non-cooperation to inspecting and investigating authority is in grave violation of Regulation 4(4), Regulation 4(7), Regulation 8 (4) and Regulation 8(8)of the Inspection and Investigation Regulations; Clause 18 and Clause 19 of the Code of Conduct. Furthermore, authority of the […]
Explore the efficacy of Reverse CIRP in addressing issues faced by allottees/buyers of properties. Analyze the impact of legal decisions on this insolvency resolution process.
The DC notes that Preamble of the Code makes it clear that all out efforts are to be made for resolution of the Corporate Debtor. CoC having sole FC has shown undue haste in reaching the conclusion, that CD has to be pushed towards direct liquidation. In the process, it discouraged the RP from even […]
Explore various exit modes for voluntary winding up of a company, including strike off and winding up under the Companies Act and Insolvency and Bankruptcy Code.
