Corporate Law : Supreme Court landmark judgment in Greater Noida Industrial Development Authority vs. Prabhjit Singh Soni clarifies creditor right...
Corporate Law : Explore recent Supreme Court rulings on dissenting creditor rights and set-off claims in insolvency cases. Detailed analysis of ke...
Company Law : Discover how to lift a bank account freeze due to company strike off. Learn the steps under Companies Act, 2013, to restore your b...
Corporate Law : Explore significant legal developments, Supreme Court verdicts, and detailed analyses in the Q4 2023 newsletter. Stay informed on ...
Corporate Law : Explore the vital role of the Insolvency and Bankruptcy Code (IBC) in protecting employee rights during corporate insolvency, high...
Corporate Law : SC rules on Special Court jurisdiction; NCLAT redefines financial debt; HC upholds IBBI regulations and addresses various insolven...
Company Law : Explore the current status of pending cases in NCLT and NCLAT as of August 2024, reasons for delays, and the government's strategi...
Corporate Law : Discover how the latest revisions in CIRP forms by IBBI aim to reduce the compliance burden on insolvency professionals and stream...
Corporate Law : Join the discussion on MCA's proposed changes to Insolvency and Bankruptcy Code rules. Learn how to participate and share your ins...
Corporate Law : Explore the impact of the LLP (Amendment) Act, 2021 on Ease of Doing Business, startup encouragement, and the introduction of Smal...
Corporate Law : NCLT Amravati held that application filed by SBI (creditor) u/s. 95 of the Insolvency and Bankruptcy Code, 2016 for initiation of ...
Corporate Law : NCLT Mumbai rules in favor of Piramal Capital, allowing Insolvency Professional Entities to be appointed as Resolution Professiona...
Corporate Law : NCLT Bengaluru held that claims filed at a belated stage after approval of resolution plan by the Committee of Creditors (CoC) can...
Corporate Law : NCLT Mumbai held that as per section 32A of the Insolvency Bankruptcy Code, 2016, the Corporate Debtor shall not be held liable fo...
Corporate Law : NCLT Chennai held that once the resolution plan is approved by Committee of Creditors, only limited judicial review is available f...
Corporate Law : Read about the case involving Chetan Patel, an Insolvency Professional, with detailed analysis of alleged contraventions and submi...
Corporate Law : IBBI Disciplinary Committee suspends Sanjay Singh, an Insolvency Professional, for irregularities in the e-auction process. Detail...
Company Law : Explore the order dated 03.02.2024 from NCLT Chandigarh transferring all pending cases from Bench 2 to Bench 1. Detailed analysis ...
Corporate Law : Filling up of 05 (Five) posts of Judicial Member and 05 (Five) posts of Technical Members in the National Company Law Tribunal (NC...
Corporate Law : The Ministry of Corporate Affairs announces the appointment of new Judicial and Technical Members in the National Company Law Trib...
Held that once the Liquidator applies to NCLT, to adopt particular mode of sale of movable and immovable assets of the Corporate Debtor, which is approved by NCLT, there is no provision in the IBC that empowers NCLAT to suo motu conduct a judicial review of the said decision.
National Company Law Tribunal Bar Association Vs Union of India (Supreme Court) The petitioner contends that the notification S.O. 3412 (E) dated 20 September 2019 issued by the Ministry of Corporate Affairs appointing 28 candidates as Members of the National Company Law Tribunal for a tenure of three years is contrary to the provisions of Section […]
Held that the petition filed by financial creditors (home buyers) is admitted and principal amount paid to corporate debtor is also accepted as financial debt.
Once a successful bidder had accepted and purchased the Corporate Debtor in slump sale under IBC, the bidder could not request to convert that sale into a sale of Corporate Debtor as a going concern from slump sale as it would affect the rights of members of the stakeholders’ committee prejudicially .
Whether order of the Adjudicating Authority (‘NCLT’) can be challenged in a proceeding under Article 226, has been, recently, analysed in the matter of Tharakan Web Innovations Pvt. Ltd. Vs. National Company Law Tribunal (1st February, 2022) in W.P. (C) Nos. 27636 of 2020 & 14158 of 2021 before Kerla High Court.
Held that being a third-party, Amazon.com cannot question the initiation of CIRP proceedings u/s 7 of IBC 2016 against the Corporate Debtor.
Held that moratorium under section 14 of the Insolvency and Bankruptcy Code is applicable to legal proceedings initiated in terms of the EPF & MP Act
Delta Electro Mechanical Pvt. Ltd. Vs Sahara Hospitality Ltd. (NCLT Mumbai) NCLT Terminates CIRP of Sahara Hospitality as parties signed settlement whereby the parties have agreed to settle disputes amongst each other for an amount of Rs. 8,00,00,000/ The present application is filed under Section 12A of the Insolvency and Bankruptcy Code, 2016 read with […]
The NCLT vide its order dated 18th July, 2022 terminated the corporate insolvency resolution process (CIRP) initiated against Videocon Infinity Infrastructure Private Limited (CD) and imposed a penalty of penalty of Rs.50 lakh on FC under section 65 of the Code.
NCLT held that suspended management must be provided with copy of resolution plan. However, resolution professional can take an undertaking from members of erstwhile Board of Directors to maintain confidentiality.
