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...
Company Law : Delhi High Court held that timelines under Regulation 35A of the CIRP Regulations, 2016 for filing avoidance application are direc...
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 : 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...
DC notes that there were practical challenges particularly with regard to non-availability of documents and non-cooperation of the CD in the CIRP of the CD. At the same time, the DC also finds that the conduct of Mr. Rohit Aggarwal depicts that he has failed to understand the Code/Regulations in letter and spirit as statutory […]
An operational creditor is eligible to send a demand notice to a corporate debtor upon default in payment u/s. 8(1) of the Insolvency and Bankruptcy Code
Anti-Profiteering Provisions of Section 171 of CGST Act, 2017 violated by Respondent, yet provisions of IBC, 2016 will nonetheless prevail.
Held that the petition filed by financial creditors (home buyers) is admitted and principal amount paid to corporate debtor is also accepted as financial debt.
Once a successful bidder had accepted and purchased the Corporate Debtor in slump sale under IBC, the bidder could not request to convert that sale into a sale of Corporate Debtor as a going concern from slump sale as it would affect the rights of members of the stakeholders’ committee prejudicially .
Whether order of the Adjudicating Authority (‘NCLT’) can be challenged in a proceeding under Article 226, has been, recently, analysed in the matter of Tharakan Web Innovations Pvt. Ltd. Vs. National Company Law Tribunal (1st February, 2022) in W.P. (C) Nos. 27636 of 2020 & 14158 of 2021 before Kerla High Court.
Explore the key insights from the NCLAT Judgements Compendium for September 2021 on IBC, 2016. Gain a concise overview of significant cases, including discussions on pre-existing disputes, withdrawal of funds during CIRP, and adherence to statutory timelines. Stay informed about the latest rulings and enhance your understanding of the nuances in insolvency proceedings.
Held that being a third-party, Amazon.com cannot question the initiation of CIRP proceedings u/s 7 of IBC 2016 against the Corporate Debtor.
Held that operational creditor can trigger CIRP process only in case of undisputed debt and default in payment thereof. However, if the debit is disputed, the application of the operational creditor for CIRP process cannot be admitted.
Delta Electro Mechanical Pvt. Ltd. Vs Sahara Hospitality Ltd. (NCLT Mumbai) NCLT Terminates CIRP of Sahara Hospitality as parties signed settlement whereby the parties have agreed to settle disputes amongst each other for an amount of Rs. 8,00,00,000/ The present application is filed under Section 12A of the Insolvency and Bankruptcy Code, 2016 read with […]
