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...
NCLAT Delhi held that direction of making contribution to the assets of Corporate Debtor upheld as person knowingly carried on the business of Corporate Debtor with intent to defraud creditors or for fraudulent purpose.
NCLAT Delhi held that section 238 of the Insolvency & Bankruptcy Code, 2016 [IBC] cannot override the Prevention of Money Laundering Act, 2002 [PMLA]. Thus, attachment under PMLA cannot be undone merely because CIRP is ongoing.
NCLAT Chennai dismissed an appeal challenging a 2024 order, citing appellant’s lack of diligence in rectifying defects despite multiple opportunities and a year-long delay.
NCLAT remands insolvency case to NCLT, stressing individual merit assessment over past unrelated dismissals. Tribunal must pass speaking order after fresh hearing.
NCLAT Delhi reverses NCLT, admitting insolvency application as debt and default were established through NeSL records and Corporate Debtor’s own admission.
NCLAT upholds NCLT’s rejection of Indian Bank’s insolvency plea against a personal guarantor who was also the resolution applicant, citing the approval of a new guarantee under the corporate debtor’s resolution plan.
The Corporate Debtor failed to maintain financial discipline following which the account of the Corporate Debtor was classified as NPA which was also reflected in Part-IV of the Section 7 application filed by the Financial Creditor.
NCLAT Delhi held that status quo order by forcing corporate debtor to restore liquidator amounts to stalling the voluntary liquidation process. Thus, adjudicating authority cannot restore status quo under voluntary liquidation process.
Adjudicating authority also in its order dated 03.12.2024, while considering the application filed by the RP for approval of the resolution plan has noticed all relevant facts, including the financial outlay and four contingencies as part of the resolution plan.
The Appellant submitted that, despite repeated follow-ups, the Respondent has failed to pay the outstanding balance. The Appellant issued a notice under the Arbitration and Conciliation Act, 1996 seeking recovery of the said dues.
