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...
NCLAT held that The Resolution Professional has calculated the claim of the Appellant as per the award dated 19.01.2018. Appellant who has himself initiated the Arbitration Proceeding cannot deny that he is bound by the award which was delivered in his favour.
IBBI has perused the contraventions alleged in the SCN and the reply of the RV on the SCN. It is observed that the RV has neither countered the allegations made in the SCN nor provided any justification as to how his valuation report is in compliance with the applicable provisions of Valuation Rules. A valuation […]
Uncover the multifaceted role of the National Company Law Tribunal (NCLT) beyond debt recovery, exploring its significance in fair and efficient resolution of corporate disputes under the Insolvency and Bankruptcy Code (IBC). Delve into key provisions, court interpretations, and the NCLTs crucial role in promoting resolution over liquidation for distressed corporate debtors. Stay informed on the evolving landscape of insolvency laws in India.
NCLT Mumbai held that as date of default is beyond 25th March 2020, the default as alleged by Operational Creditor falls under the purview of Section 10A of the IBC, 2016 and hence application seeking initiation of CIRP rejected.
IBBI warns RV to be cautious & transparent while conducting valuation under IBC, 2016 & Companies (Registered Valuers and Valuation) Rules, 2017
Section 7 of the Insolvency and Bankruptcy Code, 2016, addresses the initiation of the corporate insolvency resolution process by the financial creditor.
Provisions of Section 9 of IBC mandates Operational creditor to file CIRP application against Corporate Debtor after expiry of 10 days from date of receipt of demand notice by Corporate Debtor,
Under section 18(f) of IBC Code, Mr. S. Muthuraju being IRP of the CD from 14.06.2017 to 20.09.2017 was required to take control and custody of any asset over which the CD has ownership rights, as recorded in the balance sheet of the CD.
Explore the necessity of Committee of Creditors approval for the appointment of Transaction/Forensic Auditor under Section 18 of the Insolvency and Bankruptcy Code, 2016. Understand the role of Forensic Auditors in identifying PUFE Transactions and ensuring compliance with IBC regulations.
Discover the overriding effect of IBC (Insolvency and Bankruptcy Code) over Income Tax and GST Acts. Supreme Court rulings and legal provisions explained. Stay informed on the legal landscape for corporate debtors.
