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...
Sumit Bansal, Insolvency Professional Vs Committee of Creditors of JP Engineers Pvt. Ltd. (NCLAT Delhi) NCLAT not agreed with the submissions of the Counsel for the Appellant that IBBI has no jurisdiction with regard to question of fee which is entitled to be paid to the IRP/ RP. The IBBI is clothed with Regulations making […]
Supreme Court M/s. Jai Balaji Industries Vs. D.K. Mohanty & Anr. [Civil Appeal No. 5899 of 2021 with 5904 of 2021] The Supreme Court (SC) observed that an operational creditor (OC) cannot use the Code for extraneous considerations or as a substitute for debt enforcement procedures; and the object of the Code is to allow […]
Ashish Chaturvedi Vs Inox Leisure Limited (NCLAT Delhi) With regard to the argument of the Learned Counsel of the Appellants that the Adjudicating Authority has imposed the penalty on the two ex-directors by invoking provisions of the Companies Act, 2013, and thus passed the Impugned Order by travelling beyond their jurisdiction, we are of the […]
Go Airlines (India) Ltd. Vs Sovika Aviation Services Pvt. Ltd. (NCLAT Delhi) Heard Shri Krishnendu Datta, learned senior counsel for the Appellant and Shri Ritin Rai, learned senior counsel appearing for the Respondent. This Appeal has been filed against the order dated 23.09.2021 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench by […]
In Re Vinod Tarachand Agrawal Resolution Profession of Mayfair Leisures Limited (NCLAT Delhi) The Ld counsel for the appellant has stated that the exclusion of 90 days from the CIRP of the CD would save the company from ‘Liquidation’. It was also pointed out by the ld. Counsel that there was a ‘Prospective Resolution Applicant’ […]
Ravi Iron Ltd. Vs Jia Lal Kishori Lal (NCLAT Delhi) When the Application under Section 9 of the IBC Code comes with date of default and no other reasons given in the Application or any details for extension of limitation, we see no ground to hold that Application was well within time. The submission of […]
Reduction of Capital’ under Section 66 of the Companies Act, 2013 is a ‘Domestic Affair’ of a Company in which, ordinarily, a Tribunal will not interfere because of the reason that it is a ‘majority decision’ which prevails.
Niew taken by NC:LT in Beacon Trusteeship Limited is not inconsonance with Section 7 read with Section 238 of ‘I&B Code’. Financial Creditor has full right to initiate action under Section 7 for non-payment of dues.
Dheeraj Wadhawan Vs Administrator, Dewan Housing Finance Corporation Limited (NCLAT Delhi) Facts- The Company Appeal is filed by Appellant Dheeraj Wadhawan, erstwhile Promoter/Director of DHFL, against the Order dated 28 April 2020 in the Miscellaneous Application being numbered as MA 518 of 2020 in Company Petition (IB) No. 4258/2019 under Section 60(5) of the Insolvency […]
Kiran Shah Vs Enforcement Directorate (NCLAT Delhi) In so far as anyone aggrieved against any decision or order of the ‘Adjudicating Authority’ of the PMLA, then it is open to him to prefer an Appeal before the Appellate Tribunal, PMLA by resorting to the relevant provision(s) of the ‘Prevention of the Money Laundering Act, 2002’. […]
