Company Law : The article examines the Hamlin Trust ruling, where the NCLAT held that CFO appointments must satisfy Section 203 eligibility requ...
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 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 invoice discounting through the TReDS platform does not convert operational debt into financial debt. The appeal w...
Corporate Law : Madras HC held that a pending NCLAT appeal did not prevent PNB from conducting a Swiss Challenge auction after the OTS proposal wa...
Company Law : The NCLAT held that CFO nominees must satisfy the eligibility requirements under Section 203 of the Companies Act. It set aside th...
Income Tax : NCLAT held that a single application covering multiple years and company officers is maintainable in the absence of any statutory ...
Corporate Law : Tribunal held that proviso to Regulation 7A allows insolvency professionals to continue assignments already underway even after th...
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 held that dismissal for want of prosecution was unjustified where multiple adjournments were caused by the Tribunal due to paucity of time and technical issues. The ruling emphasizes that litigants should not be penalized when delays are not entirely attributable to them.
Fee reduction of ₹50,000 for the Interim Resolution Professional (IRP) ordered by NCLT was reasonable, given that the IRP’s role was restricted by an interim stay on the constitution of the Committee of Creditors (CoC) between February 28 and September 1, 2023.
NCLAT observed that royalty payment obligation flowed directly from Technical Guidance Agreement and did not depend on issuance of invoices. Debt and default were therefore held established.
The Tribunal reiterated that disbursement of funds to the debtor is an essential condition for financial debt. Since no money was advanced to the corporate debtor, the claimant was not a financial creditor.
The NCLAT ruled that withdrawal under Section 12A of the IBC cannot be invoked once liquidation proceedings have commenced. The Tribunal held that post-liquidation settlement can only proceed through the Section 230 route under the Companies Act.
NCLAT held that foreign oil and gas assets owned through Videocon subsidiaries could not be included in the CIRP of Videocon Industries Ltd. The Tribunal ruled that subsidiaries and parent companies are distinct legal entities under insolvency law.
NCLAT held that a joint venture arrangement did not prevent insolvency proceedings where separate agreements clearly imposed supply obligations and payment responsibilities between parties. Tribunal ruled that unpaid supply dues constituted operational debt under IBC.
A resolution applicant could not unilaterally alter its financial proposal through a last minute addendum after completion of the challenge process and commencement of voting under the Corporate Insolvency Resolution Process (CIRP).
The Supreme Court upheld joint insolvency proceedings against two interconnected real estate companies due to common management and integrated project operations. The ruling clarifies when multiple corporate entities can face consolidated CIRP under the IBC.
NCLAT held that the Corporate Debtor’s email offering payment subject to acceptance of a consequence sheet amounted to acknowledgment of operational debt. The Tribunal found that the dispute raised regarding quality and delays was not a genuine pre-existing dispute under Section 9 of the IBC.
