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 the objection that petitioner has not amended the petition cannot mean that on the basis of leave granted to serve amended petition Respondent – Union of India can add relief without filing any application and without obtaining order of the Court.
NCLAT Delhi held that delay in filing restoration appeal can be condoned in terms of rule 48 of the NCLT Rules, 2016 since sufficient cause made out. Accordingly, matter restored back to the Adjudicating Authority.
NCLAT Delhi held that delay of 147 days in refiling of an appeal against National Financial Reporting Authority [NFRA] order without any satisfying reasons is not condonable. Accordingly, appeal dismissed and delay not condoned.
NCLAT Delhi held that by approval of resolution plan, the personal guarantee is not ipso facto discharged. Thus, the Indian Bank which is dissenting Financial Creditor cannot proceed to file an application under Section 95 against the respondent.
NCLAT Chennai held that delay in filing Restoration Application in the Contempt Proceedings deserves to be condoned since the reasons given for delay appears to be reasonable. Accordingly, delay of 374 days condoned.
Lincon Polymers Private Limited had manufacturing facilities, one at Khatraj and one at Borisana. The Khatraj manufacturing facility was catering to domestic market whereas the Borisana facility was catering to export market.
NCLAT Delhi held that since the value of corporate debtor was covered by exemption issued by MCA by notification dated 07.03.2024 hence provision of section 5 of Competition Act, 2002 is not applicable, accordingly, there was no requirement of any approval from Competition Commission of India [CCI] for approval of resolution plan.
NCLAT Delhi held that since existence of financial debt and default thereon is established, the adjudicating authority has rightly admitted section 7 application under the Insolvency and Bankruptcy Code. Accordingly, appeal dismissed.
NCLAT Delhi held that application for liquidation of Corporate Debtor should be proceeded as there was sufficient ground to hold that resolution plan is not implemented. Accordingly, the appeal is dismissed.
NCLAT Delhi held that debt and default on the part of Corporate Debtor proved and hence application under section 7 of the Insolvency and Bankruptcy Code duly admissible. Thus, appeal dismissed and order of adjudicating authority upheld.
