Corporate Law : Learn about IBBI's new rule for generating a unique Valuation Report Identification Number (VRIN) for valuations under the Insolve...
CA, CS, CMA : Highlights from August 5-11, 2024: Income Tax exemptions, GST updates, SEBI guidelines, and RBI monetary policy changes....
Corporate Law : Explore how the NCLT's inherent power to recall orders under the IBC ensures justice by addressing procedural errors. Learn about ...
Corporate Law : Explore the pros and cons of the Insolvency and Bankruptcy Code, 2016. Understand its impact on insolvency proceedings in India....
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 : SC rules on Special Court jurisdiction; NCLAT redefines financial debt; HC upholds IBBI regulations and addresses various insolven...
Corporate Law : New guidelines for the Committee of Creditors by IBBI focus on enhancing decision-making, transparency, and efficiency in insolven...
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 : NCLT Amravati held that application filed by SBI (creditor) u/s. 95 of the Insolvency and Bankruptcy Code, 2016 for initiation of ...
Income Tax : Delhi High Court held that reassessment action under section 148 of the Income Tax Act post approval of the resolution plan unsust...
Corporate Law : NCLT Mumbai rules in favor of Piramal Capital, allowing Insolvency Professional Entities to be appointed as Resolution Professiona...
Corporate Law : NCLT Mumbai held that as per section 32A of the Insolvency Bankruptcy Code, 2016, the Corporate Debtor shall not be held liable fo...
Corporate Law : NCLAT Delhi held that electricity supply by NPCL, being in nature of supply of essential goods, was necessary to be continued duri...
Corporate Law : IBBI amends Inspection and Investigation Regulations, extending the response period to show-cause notices to 60 days from the due ...
Corporate Law : IBBI updates Information Utilities Regulations with new timelines and verification procedures starting October 2024, improving def...
Corporate Law : IBBI's ruled that mere association with a promoter does not automatically disqualify a Resolution Applicant under Section 29A unle...
Corporate Law : The IBBI Disciplinary Committee disposes of SCN against Insolvency Professional Brijendra Kumar Mishra, advising re-examination af...
Corporate Law : IBBI disciplinary order finds Mr. Vijendra Kumar Jain guilty of negligence and failure in handling claims under CIRP, with implica...
Most serious contraventions relate to eliminating the voting rights of CoC members for non-contribution to the CIRP costs. This contravention goes against the letter and spirit of the Code.
Stay up-to-date with the latest NCLAT judgements on IBC 2016 for October 2021. Get a summary of the key findings in our comprehensive compendium.
Held that application to initiate CIRP, against solvent and going concern company, can be denied when creditor is using insolvency as a substitute for debt recovery procedure.
Krishna Knitwear Technology Ltd. Vs DCIT (ITAT Mumbai) ITAT held that since proceedings under I&B code have already been initiated/decided and moratorium has been declared by prohibiting all the proceedings against the corporate debtors including execution of any judgment, decree or order of any court of law, tribunal, arbitration panel or other authority, present appeals […]
Appellant submits that Appellant has served the Notice by email to the Director of the Corporate Debtor and further the observations of the Adjudicating Authority that Applicant has not placed on record the Master Data of the Corporate Debtor is not correct since in the Application itself the Master Data of the Corporate Debtor was filed
Steps involved in CIRP Step 1: Notice The Operational Creditor is required to deliver Demand notice (in Form 3) (or) copy of invoice attached with a notice (in Form 4) to the corporate debtor.
SC held that an appeal being the continuation of original proceedings, the provision of section 7(5)(b) of IBC Code, for intimating the Financial Creditor (FC) before rejection of a claim, would be attracted.
Held that the provision under Section 60(1) makes it clear that the residence of Personal Guarantor is not taken into consideration when insolvency resolution proceedings against the Personal Guarantor are initiated.
Explore the journey and importance of valuation under IBC. Learn how this profession plays a pivotal role for debtors and creditors in the financial sector.
Till 31st July, 2022, the IBBI had received 6,231 such complaints and grievances, of which 6,172 have been disposed after examination.
