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...
Take notice that the Chennai Bench of National Company Law Appellate Tribunal (NCLAT) will start its functioning from 25.01.2021 through Virtual Mode.
Mohit Minerals Ltd Vs. Nidhi Impotrade Pvt Ltd (NCLAT) An Advocate can issue demand notice on the instruction of his client (the operational creditor), even though not backed by the Board Resolution Brief Facts: An application under Section 9 of the Insolvency and Bankruptcy Code, 2016 was filed by the Appellant- Operational Creditor and dismissed […]
Sri D. Srinivasa Rao Vs. Vaishnovi Infratech Ltd (NCLAT) Brief Facts: An application under Section 9 of the Insolvency and Bankruptcy Code, 2016 against Respondent- ‘Vaishnovi Infratech Ltd.’ (Corporate Debtor) filed by the Appellant- Operational Creditor was rejected by the Adjudicating Authority (National Company Law Tribunal), Hyderabad Bench, Special Bench on the ground that the […]
Aster Technologies Pvt. Ltd. Vs Solas Fire Safety Equipment Pvt. Ltd (NCLAT) Brief Facts: An application was filed under Section 9 of IBC and the Adjudicating Authority issued Notice but none appeared for Respondent. The Adjudicating Authority disposed of by directing the Respondent to settle the issue in question within a stipulated period while observing […]
Pratap Technocrats P Ltd & Ors Vs. Monitoring Committee of Reliance Infratel Ltd & Anr (NCLAT) Brief Facts: The version of appellants says that they were kept unaware of the Corporate Insolvency Resolution Process qua the Corporate Debtor, thus being wholly unaware of the progress of Resolution Process with no details provided by the Resolution […]
Jay Overseas Pvt. Ltd. Vs George Samuel (NCLAT Delhi) The Learned Counsel are not disputing that Respondent No. 2 is ‘Committee of Creditors’ having 100% voting right. The Learned Counsel for Respondent No. 2 submits that if this Hon’ble Tribunal directs the Respondent No. 2 is ready to consider the revised Resolution Plan (Annexure P/6). […]
Section 18 of the Limitation Act, 1963 would have no application to proceedings under I&B Code. Therefore, the issue raised as regards acknowledgement of liability by reflection in the Balance Sheet/ Annual Return would be irrelevant.
Mr Rajnish Jain Vs Manoj Kumar Singh – I.R.P. (NCLAT, Delhi) Resolution Professional or Committee of Creditors cannot reclassify status of a creditor from Financial to Operational Creditor NCLAT held that during CIRP, the IRP is authorised to collate the claims, and based on that he is empowered to constitute the Committee of Creditors. We […]
Summary of Orders related to IBC 2016 passed by IBBI, NCLT, NCLAT, HC & SC during July to September 2020 Orders by Supreme Court M/s Marathe Hospitality Vs. Mahesh Surekha & Ors. [SLP (C) No. 8139/2020] The petitioner filed an appeal before the NCLAT. However, the NCLAT closed its functioning as one of its employees […]
The concept of LLP in India was introduced off late in 2008 by enacting the LLP Act, 2008 thereby allowing businesses to be registered as a new and hybrid structure. It was anticipated at that time that many corporate houses would consider LLP as a vehicle to run their business operations, mainly due to lower […]
