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Corporate Law : Explains how recent tribunal decisions shaped the rules for selling corporate debtors as going concerns, highlighting compliance...
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Corporate Law : NCLAT holds that time spent in pending Debt Recovery Tribunal proceedings cannot be excluded under Section 14 of the Limitation Ac...
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Corporate Law : The Supreme Court upheld joint insolvency proceedings against two interconnected real estate companies due to common management an...
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Corporate Law : Supreme Court ruled that CoC and RP can surrender financially burdensome assets voluntarily, clarifying moratorium under section 1...
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Corporate Law : NCLT & NCLAT eligibility criteria, insolvency rules, and case statistics from 2022-2024. Updates on financial irregularities and r...
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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...
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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 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.
NCLT rejected the claim stating it was filed after the initiation of CIRP. Appellant filed the appeal under Section 61 of IBC to file his claims at any time before approval of the Resolution Plan by the Committee of Creditors (CoC).
Explore the impact of builder insolvency on homebuyers in India and the challenges within the insolvency resolution process. Learn about reforms needed to protect buyers.
Assessee-company was engaged in the business of manufacturing and trading of Inverters & Batteries and had its factory premises in Himachal Pradesh. For running its operations, it had availed various facilities from financial creditors and also with SBI.
Section 37 of the Maharashtra Value Added Tax Act, 2002 ( MVAT Act ) and Section 33 of the Madhya Pradesh Value Added Tax Act, 2002 (“MPVAT Act”) are not pari materia with Section 48 of the Gujarat Value Added Tax Act, 2003 ( GVAT Act ).
NCLAT New Delhi held that proposing NIL amount doesn’t result into non-compliance of section 30(2)(b) of IBC. Hence, approval of resolution plan proposing NIL amount to Operational Creditor justified.
