Corporate Law : Explains how recent tribunal decisions shaped the rules for selling corporate debtors as going concerns, highlighting compliance...
Corporate Law : The Tripartite Agreement Trap: When Banks Lose Financial Creditor Status in Real Estate Insolvency This case memo discussed the ru...
Corporate Law : NCLAT holds that time spent in pending Debt Recovery Tribunal proceedings cannot be excluded under Section 14 of the Limitation Ac...
Corporate Law : RTI inquiry into NCLT/NCLAT reveals member vacancies, lack of consolidated case data, and opaque appointments, highlighting need f...
Corporate Law : The NCLAT ruled that provident fund dues are not corporate debtor assets and must be paid in full during CIRP, prioritizing them o...
Corporate Law : The Supreme Court upheld joint insolvency proceedings against two interconnected real estate companies due to common management an...
Corporate Law : From 2022-23 to 2024-25, appeals filed at NCLAT rose steadily, with IBC cases forming the majority, reflecting active engagement i...
Corporate Law : Supreme Court ruled that CoC and RP can surrender financially burdensome assets voluntarily, clarifying moratorium under section 1...
Corporate Law : SC clarifies limits of High Court's writ powers in IBC cases and recognises Indian CIRP as foreign main proceeding in cross-border...
Corporate Law : NCLT & NCLAT eligibility criteria, insolvency rules, and case statistics from 2022-2024. Updates on financial irregularities and r...
Corporate Law : NCLAT held that foreign oil and gas assets owned through Videocon subsidiaries could not be included in the CIRP of Videocon Indus...
Corporate Law : NCLAT held that a joint venture arrangement did not prevent insolvency proceedings where separate agreements clearly imposed suppl...
Company Law : A resolution applicant could not unilaterally alter its financial proposal through a last minute addendum after completion of the ...
Corporate Law : NCLAT held that the Corporate Debtor’s email offering payment subject to acceptance of a consequence sheet amounted to acknowled...
Company Law : The Appellate Tribunal upheld findings that the arrangement allowing the Successful Resolution Applicant to receive 50% of PUFE re...
Corporate Law : IBBI orders disciplinary action against Mr. S Vasudevan for alleged violations in the insolvency process of Mega Foods Products Ma...
Corporate Law : IBBI suspends IP for Failure to act during CIRP despite NCLAT directive and for Delay in convening Committee of Creditors (CoC) me...
Corporate Law : Read about the IBBI's disciplinary action against Mr. Venkata Sivakumar, an Interim Resolution Professional, for sharing asset mem...
Corporate Law : Govt issued a circular detailing vacancies for Judicial & Technical Members posts in NCLAT with detailed guide to apply for these...
Fema / RBI : It is clarified that cases admitted with National Company Law Tribunal (NCLT)/National Company Law Appellate Tribunal (NCLAT) unde...
Insolvency plea was quashed as insolvency applications filed during the subsistence of an interim moratorium were void ab initio even if the original proceedings were later withdrawn.
The tribunal held that mere suspicion or possibility of fraud without supporting evidence cannot justify action under Section 66 of the IBC. The ruling underscores the need for concrete proof in alleging fraudulent conduct.
The tribunal ruled that a claim submitted four days before the CoC meeting was ineligible for consideration. It confirmed that the RP acted correctly in rejecting claims filed beyond the permissible window.
The Tribunal held that the government’s decision to canalise exports of beach sand minerals was a policy measure involving strategic resources. It ruled that such sovereign functions are excluded from the definition of enterprise under competition law.
The Tribunal held that appeals against liquidator decisions must be filed within 14 days. It ruled that delays beyond this period cannot be condoned.
The Tribunal held that all resolution plans were rightly rejected as they offered values below liquidation value. It emphasized that the CoC’s commercial judgment, based on financial viability, cannot be interfered with unless statutory provisions are violated. The ruling reinforces that business decisions of the CoC are paramount in insolvency proceedings.
The issue involved whether a guarantee cap covered both principal and interest. The Tribunal held that default interest is a separate liability. The takeaway is that interest obligations can extend beyond capped principal liability.
The Tribunal held that a successful bidder cannot claim wide-ranging exemptions from statutory compliances. The key takeaway is that reliefs must be reasonable and legally permissible.
The Madras High Court held that challenges relating to insolvency proceedings must follow the statutory appellate process under the Insolvency and Bankruptcy Code. The writ petition was dismissed for failure to exhaust the remedy before NCLAT.
NCLAT Delhi held that Corporate Insolvency Resolution Proceeding [CIRP] should be restricted to specific project. Accordingly, held that project wise resolution of the Corporate Debtor needs to be proceeded with as required by law.
