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...
The Appellate Tribunal upheld findings that the arrangement allowing the Successful Resolution Applicant to receive 50% of PUFE recoveries was contrary to the IBC framework. The recoveries were held to constitute assets of the Corporate Debtor.
The case concerned an appeal against rejection of an insolvency petition involving alleged unpaid operational dues. The tribunal found that most invoices belonged to a separate proprietorship and not the corporate debtor. It held that the statutory threshold under Section 4 of the IBC was not met, leading to dismissal.
The Tribunal held that appeals filed beyond the statutory 45-day limit cannot be entertained. It ruled that delay exceeding the condonable period is not permissible under Section 61.
The Tribunal held that insolvency proceedings cannot be avoided when total debt is higher than the arbitral claim. It ruled that undisputed default justified admission under Section 7.
The tribunal ruled that state VAT provisions do not prevail over the Insolvency Code. Tax dues were rightly treated as operational debt under the resolution plan.
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.
