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 Delhi held that if CIRP is initiated fraudulently for any purpose other than the resolution of insolvency or liquidation it can be set aside. Accordingly, CIRP set aside and appeal allowed.
NCLAT Delhi held that petition under section 7 of the Insolvency and Bankruptcy Code, 2016 admissible when interest amount demanded by Financial Creditor is more than INR 1 Crore since financial debt means a debt alongwith interest.
NCLAT Delhi held that application under section 9 of Insolvency and Bankruptcy Code 2016 (IBC) of operational creditor not maintainable due to pre-existing dispute. Further, there was no requirement for the Adjudicating Authority to go under the skin of dispute
NCLAT Delhi held that held that considering the text of Section 60(5)(c) of IBC liquidators can ask for the refund of the Performance Bank Guarantee (PBG) amount, which was given by the Corporate Debtor towards margin money for securing a PBG.
As per the agreements, assessee had paid their respective consideration amount. As per the aforesaid flat buyer Agreement, the Corporate Debtor had promised to deliver the possession of the flats within a prescribed timeline.
NCLAT Chennai held that application for staying auction process of Corporate Debtor not tenable since order rejecting resolution plan submitted by the appellant not objected. Accordingly, appeal dismissed.
NCLAT Delhi held that the cause of action for filing the under section 7 of the Insolvency and Bankruptcy Code arose on 16.12.2010, whereas, filing of an application in the year 2019 is hopelessly barred by time.
KSK Mahanadi Power Company Limited (Corporate Debtor) is a company engaged in business of power generation. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process on 03.10.2019.
NCLAT Delhi held that admission of application under section 9 of the Insolvency and Bankruptcy Code (IBC) for initiation of CIRP of Corporate Debtor untenable due to pre-existing dispute surrounding operational debt.
After the Judgment of the Hon’ble Supreme Court I.A. 961/2024 was filed by the RP before the Adjudicating Adjudicating Authority who has reserved the Judgment in I.A. 5283/2022, i.e. Plan approval Application de-reserved the same.
