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...
Indian Bank (Appellant) Vs Charu Desai (NCLAT) Commercial wisdom of Committee of Creditors (CoC) for amount to be paid to different classes or subclasses of creditors in accordance with provisions of the IB Code and the related Regulations. Hon’ble National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi in Company Appeal No. 644 of […]
NCLAT taken view that in ‘CIRP’ Process, Project-Wise Resolution to be started as a test to find out the success of such Resolution. Keeping an eye regarding construction and completion of the projects
Whether after approval of the Resolution Plan by Committee of Creditors (CoC), the claim of the creditors stood extinguished?
SC held that when 90% or more of the creditors decide that it will be in the interest of all the stake¬holders to permit Settlement Plan filed by promoter of the Corporate Debtor and withdraw Corporate Insolvency Resolution Process as per Section 12A of IBC, 2016, NCLT or NCLAT cannot sit in appeal over such commercial wisdom of Committee of Creditors.
Safire Technologies Pvt. Ltd Vs Regional Provident Fund Commissioner (Supreme Court) An appeal against the order of NCLT shall be preferred within a period of 30 days from the date on which the order was passed by the NCLT. The Appellate Tribunal has the power to extend the period of limitation by another 15 days. […]
NCLAT held that a fresh resolution plan cannot be considered by committee of creditors of AMW Autocomponent Limited (CoC).
Omega Laser Products B.V. Vs Anil Agrawal (NCLAT Delhi) It is seen from the record that the remuneration of the MD is a ‘disputed question of fact’. It is not within our domain under IBC to ‘decide the issue of the fixation of the salary of the MD’, but to ascertain if there is any […]
The Resolution Professional has not filed any application for the preferential transaction as required under Section 43(1) of the Code. Hence, apparently while going through the petition and hearing of Ld. Counsels for both the parties, it is very much clear that the Adjudicating Authority on its own has recorded it a related party which is beyond the provisions contend in the Code either explicitly or implicitly.
NCLAT held that in view of the provisions of Section 238 of the I&BC 2016 the financial Creditor/ Operational Creditor/Corporate Persons can file an application under Section 7 ,9 & 10 of the I & B Code, 2016 before the respective Adjudicating Authorities even though in respect of same any proceeding pending before other forums on the ground that the provisions of I & B Code, 2016 is overriding effect of other laws
NCLAT Delhi cancels sale of Corporate Debtor to auction purchaser in Liquidation Proceedings for failure to pay consideration in 90 days as stipulated under IBBI (Liquidation Process) Regulations 2016.
