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...
Analysis of ministry of corporate affair’s notification on rules for investigation of NCLT and NCLAT’s members The Ministry of Corporate Affairs on July 28, 2020 notified The National Company Law Tribunal and National Company Law Appellate Tribunal (Procedure for investigation of misbehavior or incapacity of Chairperson, President and other Members) Rules, 2020. This has been […]
These rules may be called the National Company Law Tribunal and National Company Law Appellate Tribunal (Procedure for investigation of misbehavior or incapacity of Chairperson, President and other Members) Rules, 2020.
Vivek Bansal Vs Burda Druck India Pvt. Ltd. & Anr. (NCLAT Delhi) In a recent judgment (Company Appeal (AT) (Insolvency) No. 552 of 2020, dated 14-07-2020), the National Company Law Appellate Tribunal (NCLAT) held that a company could exit an ongoing insolvency process even as an interim resolution professional had been appointed and a moratorium […]
An insolvency application filed by an Operational Creditor U/s 9 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) can be resisted on the ground that there is an ‘existing dispute‘, the I&B Code does not provide for such a defence for resisting an insolvency application filed in respect of a financial debt U/s 7 […]
Oppression and Mismanagement is envisaged in Section 241 of the Companies Act, 2013 and allows the petitioners i.e. the minority shareholders to file a suit if they believe the affairs of the company are conducted in a manner prejudicial and/or oppressive to themselves, to the interests of the company or to the public
Introduction The fundamental legislative intent behind the enactment of IBC has been the resolution of Corporate Debtors. Compared to previous laws, the distinguishing feature of the Code is that it does not to operate as a mere debt recovery route for creditors. The doctrine of fresh slate is of much significance in achieving the objective […]
Standard Operating Procedure for Ld. Advocate/ Authorised Representative/Party-in-Person for Mentioning the matter for hearing through virtual mode In order to contain the spread of Coronavirus (COVID-19), and after considering the various instructions and advisories relating to coronavirus control and lockdown issued by the Government, Hon’ble Acting Chairperson, NCLAT has decided that all urgent cases will […]
State Bank of India Vs Metenere Ltd. (NCLAT) The fact that the proposed ‘Resolution Professional’ Mr. Shailesh Verma had a long association of around four decades with the ‘Financial Creditor’ serving under it and currently drawing pension coupled with the fact that the ‘Interim Resolution Professional’ is supposed to collate all the claims submitted by […]
NCLAT concluded that the apprehension of bias expressed by the ‘Corporate Debtor’ qua the appointment of Verma as proposed IRP is valid and cannot be dismissed. Further, it contended that the NCLT order was justified in seeking substitution of Verma to ensure that CIRP is conducted in a fair and impartial manner.
NCLAT declined to accept the stand of the Financial Creditor that, Article 62 of the Limitation Act, will be applicable for counting limitation under Section 7 of the IBC and further held that only Article 137 of the Limitation will be applicable on the Application under Section 7, 9 and 10 of the IBC.
