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...
Indo Alusys Industries Limited Vs SMW Metal Private Limited (NCLAT Delhi) National Company Law Appellate Tribunal (NCLAT), Delhi Bench, has dismissed an appeal filed by Indo Alusys Industries Limited (the ‘Operational Creditor’ or ‘Appellant’) against SMW Metal Private Limited (the ‘Corporate Debtor’ or ‘Respondent’). The NCLAT’s decision, pronounced on a date not specified in the […]
NCLAT Delhi held that State Tax Department is secured creditor under section 53 of the Insolvency and Bankruptcy Code [IBC] hence resolution plan approved without considering the same is in violation of statutory provision.
NCLAT Delhi held that rejection of resolution plan on the ground of valuation of assets of Corporate Debtor not sustainable since no objection to the valuation conducted of the Corporate Debtor was raised by any stakeholders.
NCLAT Delhi held that filing of application u/s. 7 of the IBC even after agreeing on restructuring of loan by majority of lenders is justifiable since all Lenders have their independent rights to take such measures as per their Bank’s policy.
NCLT can also exercise inherent jurisdiction under Rule 11 in a case where NCLT is of the view that copy of the order need to be forwarded to the relevant statutory authorities, it can forward the copy for doing needful.
NCLAT Delhi affirms Corporate Debtor’s insolvency, ruling alleged coal quality dispute an afterthought after demand notice lacked timely response.
Hon’ble Supreme Court in Consolidated Construction Consortium Ltd. vs Hitro Energy Solutions Pvt (2022) 7 SCC 164 has held that with respect to the fact that receiver of goods who has paid advances is also an Operational Creditor.
NCLAT Delhi held that statutory provisions of section 43 of the Insolvency and Bankruptcy Code [IBC] empowers resolution professional to file application for avoidance of preferential transactions. Hence, application filed by homebuyers rightly not entertained.
NCLAT Delhi held that the communication of Section 8 Demand Notice via registered email address of Corporate Debtor is valid service of demand notice. Accordingly, admission of application under section 9 of the Insolvency and Bankruptcy Code justifiable.
NCLAT Chennai held that delayed filing of scheme of compromise u/s. 230 of the Companies Act cannot be condoned since there was no procedural flaw in conducting the auction till the stage it was finalized by the issuance of the sale certificate.
