Corporate Law : Understand Corporate Insolvency Resolution Process (CIRP) in India, from initiation and moratorium to resolution plan approval and...
Corporate Law : Pursuant to approval of Resolution Plan by the Adjudicating Authority under Insolvency & Bankruptcy Code, 2016, has presuppose wai...
Corporate Law : Insights into recent Supreme Court and High Court judgments on IBC cases, covering corporate guarantees, auction timelines, liquid...
Corporate Law : Explore the legal complexities of CIRP withdrawals and the protection of creditor rights under the Insolvency and Bankruptcy Code ...
Corporate Law : Explore the issues surrounding green channel approvals in India's Corporate Insolvency Resolution Process and alternative solution...
Corporate Law : IBBI dismisses multiple RTI appeals citing misuse of the RTI Act through repetitive filings. The order emphasizes responsible use ...
Corporate Law : RTI Act permits access only to information held by a public authority and does not require the creation or interpretation of infor...
Corporate Law : Key IBC case law updates from Oct-Dec 2024, covering Supreme Court and High Court decisions on CoC powers, resolution plans, relat...
Corporate Law : The Government clarified that no cooperative sector companies in Maharashtra are declared corrupt under IBC, 2016, and Barshi Text...
Corporate Law : IBBI denies RTI appeal citing fiduciary exemption under Section 8(1)(e). The requested MSME-related information was withheld. Appe...
Income Tax : ITAT Mumbai restores MITC Metals case for fresh adjudication, ruling that assessment order was not void ab-initio despite ongoing ...
Corporate Law : NCLAT Delhi ruled that a single homebuyer cannot challenge a resolution plan approved by the CoC. The decision follows Supreme Cou...
Company Law : The plain reading of the above provisions of Section 60(5)(c) clearly indicates that the NCLT is empowered to adjudicate any quest...
Income Tax : Calcutta HC dismisses IT appeal against Subhlabh Steels due to ongoing insolvency under IBC, citing SC ruling in Monnet Ispat. Rea...
Service Tax : CESTAT Chennai ruled on Orchid Chemicals' appeal, citing insolvency resolution precedents. The appeal was abated following NCLT ap...
Corporate Law : IBBI rejects RTI appeal seeking detailed breakup of Dalmia Cement claims in Jaiprakash insolvency case, citing unavailability of d...
Corporate Law : IBBI rejects RTI appeal seeking clarifications on valuer registration, stating that opinions and justifications do not fall under ...
Corporate Law : IBBI disposes of SCN against IP in CIRP case, addresses claims dispute, and ongoing RoC investigation. Details of findings and DC'...
Corporate Law : The IBBI Disciplinary Committee has suspended Ms. Sonu Jain for one year due to delays and procedural lapses in the liquidation pr...
Corporate Law : IBBI suspends valuer for six months for non-transparent valuation in CIRP and liquidation of Base Corporation Ltd., citing violati...
Read about the notification issued by the Ministry of Corporate Affairs, exempting specific transactions from the provisions of Section 14 of the Insolvency and Bankruptcy Code, 2016. The exemptions include Production Sharing Contracts, Revenue Sharing Contracts, Exploration Licenses, Mining Leases, and related transactions.
Learn about the National Company Law Appellate Tribunal’s (NCLAT) power to recall judgments. Recent rulings clarify that while NCLAT cannot review its judgments, it can use inherent powers under Rule 11 of NCLAT Rules, 2016, to recall judgments in case of procedural errors. Explore the nuances of this legal power and the distinction between review and recall. Stay informed on the latest legal developments.
Insolvency and bankruptcy are related but distinct concepts in the field of financial distress and debt resolution. The Insolvency and Bankruptcy Code (IBC) of 2016, enacted in India, provides a comprehensive framework for dealing with insolvency and bankruptcy matters.
NCLAT approves Kuldeep Singh & Anr’s private sale against Sainsons Pulp and Papers Ltd. liquidator, highlighting full payment with interest after initial delay.
IBBI Disciplinary Committee has issued an order addressing the contravention by Mr. Raj Kumar Ralhan, an Insolvency Professional. The order pertains to violations under the Insolvency and Bankruptcy Code and related regulations, including the incurrence of unreasonable costs during liquidation and the failure to make necessary disclosures regarding engaged professionals. The IBBI Disciplinary Committee’s order […]
On the date of approval of Resolution Plan by Adjudicating Authority, all such claims which are not a part of Resolution Plan, shall stand extinguished and no person will be entitled to initiate or continue any proceedings in respect to a claim which is not a part of the Resolution Plan.
Law is well-settled that with the finalization of insolvency resolution plan and the approval thereof by the NCLT, all dues of creditors, Corporate, Statutory and others stand extinguished and no demand can be raised for the period prior to the specified date.
NCLAT Chennai held that condonation in filing of claim under Form-C based on bald explanation without sufficient cause for the delay is not allowable.
NCLAT held that that the Adjudicating Authority rightly rejected the Resolution plan as the same didn’t complied with the provisions of Section 29A(G) read with Section 240A of the Insolvency and Bankruptcy Code, 2016.
Detailed review of NCLAT judgment in H S Oberoi Buildtech Pvt. Ltd. Vs Inderjit Singh & Anr., highlighting importance of principle of natural justice in passing orders
