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...
Insolvency and Bankruptcy Board of India 7th Floor, Mayur Bhawan, Connaught Place, New Delhi – 110 001 Circular No. IBBI/LAD/58/2023 04th March, 2023 To All Registered Insolvency Professionals All Recognised Insolvency Professional Entities All Registered Insolvency Professional Agencies (By mail to registered email addresses and on website of the IBBI) Dear Madam / Sir, Subject: Serving […]
Notification No. 09/2023- Income Tax Dated: 01st March, 2023 CBDT notifies Tax Exemption to Insolvency and Bankruptcy Board of India, a Board established by the Central Government, in respect of specified income under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 09/2023- Income […]
NCLAT Delhi held that regulation 33 of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, the operational credit (i.e. the person filing CIRP application) is liable to bear the expense/ fees of Interim Resolution Professional.
IBBI notes the submission of Ms. Gunjan Agarwal that she has done aging analysis of trade receivables and thereby categorized in six categories A (15%) to E (2.5%) and that some debtors whose balance consists of 2 categories, i.e., within 2 years and also included an amount outstanding for more than 2 years, accordingly FV […]
The Authority does not agree with the assumption of Mr. Sandeep Kumar Agarwal that as a normal banking practice Corporation Bank would definitely adjust this FD against its dues and accordingly nil amount is considered. Mr. Sandeep Kumar Agarwal did not check with banks or liquidator whether actual adjustment has been done and whether the […]
Delhi High Court held that as per law laid down by the Supreme Court in Ghanashyam Mishra, all dues including statutory dues shall stand extinguished and no proceedings in respect of dues for period prior to date on which approval to resolution plan is granted could be continued.
ITAT Delhi held that as per specific provisions covered under section 178(6), Insolvency and Bankruptcy Code, 2016 has an overriding effect on all the acts including Income Tax Act.
NCLAT Delhi held that the dues of income tax department are Government dues and they are secured creditors.
RBI issues norms for provisioning of NPA (Non-performing assets) in financials of all banks being a regulator. NPA means identification of a loan where the borrower defaults in repayment of the loan over 90 days from due date
In contrast to PMLA, which aims to stop money laundering and prevent criminals from profiting from their crimes, ‘I&B CODE’ promotes the resurrection of stressed enterprises by protecting the interests of all stakeholders.
