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...
In present facts of the case the Hon’ble NCLAT have held that under Rule 11 of the NCLT Rules, 2016 they have power to grant of withdrawal of cases. It was also observed that prime objective of the Code is not recovery, but revival
NCLAT Notice No. 138/2021 – Partial temporary relaxation in the Revised Standard Operating Procedure with regard to the filing of Hard-Copies as given in the Notice No. 112/2021 dated 24th May, 2021 is withdrawn with immediate effect. The Revised Standard Operating Procedure dated January 3, 2021, would now be fully operational including it is mandatory that […]
Ideal Surgicals Vs National Company Law Tribunal (Kerala High Court) The challenge in these original petitions is against the proceedings of the National Company Law Tribunal (NCLT), Kochi Bench. IBC, 2016 is a Single Unified Umbrella Code, covering the entire gamut of the law relating to insolvency resolution of corporate persons and others in a time […]
Martin S.K. Golla Vs Wig Associates Pvt. Ltd. (NCLAT) The Resolution Plan of Mr. Wig who was undisputedly a related party, was accepted on 20.04.2018 in the 4th COC (Annexure – 16 – Page 248). Section 29A hits the eligibility of the persons to submit a Resolution Plan if a person falls in any of […]
NCLAT JUDGEMENT SUMMARY FOR THE MONTH OF MAY’ 2021 ON IBC, 2016 It gives us immense pleasure to share our 3rd Edition of NCLAT Judgement Summary for the month of May’ 2021 covering summary/ gist of finding of the Hon’ble NCLAT. The Judgement summary prepared by us is for the purpose of understanding in short […]
Jayanta Banerjee Vs Shashi Agarwal (NCLAT Delhi) In the instant case, we find that the IRP/RP had formed the Committee of Creditors based on the Financial Creditors’ submission of claims even without verification, despite that one of the financial creditors had explicitly requested to defer the e-voting on the resolution of the 5th CoC dated […]
Supreme Court Laxmi Pat Surana Vs. Union Bank of India & Anr. [CA No. 2734/2020] An FC had extended a credit to a proprietorship firm, which failed to repay the amount. The credit was guaranteed by a company. The FC filed an application under section 7 for CIRP of the CD (guarantor company). The application […]
In view of alarming rise in the COVID-19 cases and considering SOP on Preventive Measures to Contain Spread of COVID-19 in Offices dated 4th June, 2020 and further directions issued by Ministry of Health and Family Welfare from time to time;
Executive Engineer of Uttar Gujrat VIJ Company Ltd. Vs Devang P Samapat RP of M/s. Kanoovi Foods Pvt. Ltd. (NCLAT Delhi) If the electricity consumption was for manufacturing and output of the Biscuits which is the normal operation of the Corporate Debtor, in that case dues arising from such supply of electricity during moratorium would […]
The Honble Competent Authority, NCLAT has taken note of the present precarious conditions created by COVID-19 situation, and the difficulties of parties in reaching NCLAT for filing hard copies due to the prevailing pandemic situation.
