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...
Orissa High Court rules that claims before the approval of a resolution plan are extinguished, reinforcing the IBC’s provisions for corporate debtors.
NCLAT Chennai held that failure to make payment as per repayment plan grants liberty to the creditor to initiate action under section 121 of the Insolvency and Bankruptcy Code. Thus, action of creditors cannot be faulted.
During the moratorium, tax assessment proceedings were initiated by CIT (appellant) against the corporate debtor. An order for the assessment year 2018-19 was passed on March 31, 2022.
A Company Petition u/s. 95 of the IBC was filed by Operational Creditor-White Line Enterprises against Mr. Ramesh Kumar Chugh-Appellant who stood as a Personal Guarantor for repayment of the operational debt owed by M/s Sahil Home Loomtex Pvt. Ltd.
NCLAT Delhi held that dismissal of application u/s. 65 of the Code on the ground that application has been filed before the admission of the application under Section 7 of the Code is not sustainable.
NCLAT Delhi held that there is no provision under the Insolvency and Bankruptcy Code which allows set of/adjustment/ counter claim against financial debt for calculating threshold limit prescribed under section 4 of the Code.
NCLAT Delhi held that interest cannot be termed as operational debt as defined under section 5(21) of the Insolvency and Bankruptcy Code and hence interest cannot be included in the claims filed under section 9 of the Code.
Held that the outstanding being of more than 2 years prior to CIRP commencement date, the relief under Section 43 of the Code would not be available. In the circumstances we set aside the impugned order passed by Ld. NCLT, with liberty aforesaid.
NCLAT Chennai held that appellant having knowledge of the proceedings fall within the purview of the term ‘Person Aggrieved’ u/s. 61(1) hence cannot be exempt from applying for certified copy within prescribed time.
NCLAT Delhi held that insolvency resolution process against co-borrower justified as obligation of the Co-Borrower is coextensive and coterminous with that of the Primary Borrower.
