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...
Mrs. Nagappan Swarnalatha Vs M/s. Colour Books Associates Private Limited (National Company Law Tribunal) 1) We hereby declared that the incorporation of M/s. Colour Books Associates Private Limited (Respondent No.1 Company, is vitiated by fraud and consequently, the Certificate of Incorporation dated 14th May, 2018 issued by the Government of India, Ministry of Corporate Affairs, […]
All proceedings under the IBBI Code in respect of Corporate Insolvency are to be adjudicated by the National Company Law Tribunal (NCLT), which has been designed as the ‘Special One Window Forum’ to tackle all aspects of insolvency resolution. The NCLT is referred to as the ‘Adjudicating Authority’.
Recently the Delhi bench of National Company Law Appellate Tribunal (NCLAT) has passed an order for liquidation in the case of Amtek Auto Limited. The two-judge Bench headed by Justice S J Mukhopadhya, stated in its order ‘As we have noted that more than 270 days have been completed much earlier and no case is made to exclude any period, we hold that adjudicating authority has no other option but to pass order of liquidation.’
Explore NCLAT’s decision on limitation in Sanghvi Movers Ltd. vs. Tech Sharp case. Key insights on approaching forums for timely relief and implications for IBC cases.
During the submissions, Mr. Harish Salve, learned Senior Counsel appearing on behalf of ‘ArcelorMittal India Pvt. Ltd.’ submitted that once a ‘Resolution Plan’ is approved then under Section 31 of the ‘I&B Code’, it is binding on the ‘Corporate Debtor’ and its employees, members, creditors, guarantors and other stakeholders involved in the ‘Resolution Plan’. According to him, this is the most important change brought by the ‘I&B Code’, over its progenitor- the ‘Sick Industrial Companies Act’.
IDBI Bank Limited Vs Mr. Anuj Jain (National Company Law Appellate Tribunal) As the voting is on, which is likely to be completed today by 5.00 p.m., we are not inclined to pass any specific order in the present I.A. No. 1857 of 2019 filed by the ‘IDBI Bank Limited’. After voting the decision if […]
DLF Phase–IV Commercial Developers Limited & Others (National Company Law Appellate Tribunal) Indisputably, the proposed scheme of amalgamation between the Holding Company and its Subsidiaries is regulated by provisions of Chapter XV of the Act, Section 230 whereof provides for passing of an order by the Tribunal directing convening of a meeting of the creditors […]
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved creation of additional posts of three Judicial Members and three Technical Members in the National Company Law Appellate Tribunal (NCLAT).
Pr. Director General of Income Tax (Admn. & TPS) Vs M/s. Synergies Dooray Automotive Ltd. & Ors. (NCLAT) Conclusion – All statutory dues including ‘Income Tax’, ‘Value Added Tax’ etc. come within the meaning of ‘Operational Debt’ under the Insolvency and Bankruptcy Code 2016. Facts – According to appellant, the ‘Sales Tax’ and ‘Value Added […]
Pr. DGIT Vs M/s. Synergies Dooray Automotive Ltd. & Ors. (NCLAT, Delhi) ‘Operational Debt’ in normal course means a debt arising during the operation of the Company (‘Corporate Debtor’). The ‘goods’ and ‘services’ including employment are required to keep the Company (‘Corporate Debtor’) operational as a going concern. If the Company (‘Corporate Debtor’) is operational […]
