Company Law : The case examined whether extending redemption timelines amounts to reissuance. The Tribunal held that extensions within statutory...
Corporate Law : This analysis explains how NCLT continues to respect CoC commercial wisdom but now intervenes when procedures, legality, or fairne...
Corporate Law : RTI inquiry into NCLT/NCLAT reveals member vacancies, lack of consolidated case data, and opaque appointments, highlighting need f...
Corporate Law : The NCLT has ruled that banks can classify accounts as fraudulent during IBC proceedings, clarifying that a moratorium does not sh...
Corporate Law : NCLT rules that the IBC's moratorium applies to all proceedings against a corporate debtor, including quasi-judicial and assessmen...
Company Law : ICSI raised concerns over delays in NCLT hearings affecting corporate restructuring and insolvency matters. It emphasized the need...
Company Law : ICSI has urged the government to set up an NCLT Bench in Pune citing 30,600 pending cases and prolonged insolvency timelines. The ...
Company Law : With insolvency cases taking up to 853 days against the 330-day mandate, concerns over NCLT backlog have intensified. A new bench ...
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 : Bank of India Vs Neurostar Hospital Private Limited (NCLT Mumbai) The application was filed under Section 7 of the Insolvency and ...
Corporate Law : The issue involved rejection of a delayed claim in bankruptcy proceedings. The Tribunal held that concealment of material facts by...
Corporate Law : The tribunal permitted substitution of original petitioners with a new shareholder after transfer of shares. The key takeaway is t...
Corporate Law : NCLT Mumbai held that application under section 9 of the Insolvency and Bankruptcy Code for initiation of Corporate Insolvency Res...
Corporate Law : The Tribunal held that default under the loan agreement existed independently of the arbitral award challenge. It ruled that absen...
Corporate Law : Details of Judicial and Technical Members assigned to NCLT benches across India as per the latest order issued by the Ministry of ...
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...
NCLT Hyderabad dismissed the application filed under section 9 of the Insolvency and Bankruptcy Code, 2016 for initiation of CIRP due to non-compliance of section 69(2) of the Indian Partnership Act, 1932
Discover recent Income Tax and GST notifications and circulars issued during the week of October 14-20, 2024, focusing on key exemptions and procedural updates.
Delhi HC rules that a defendant cannot compel the plaintiff to summon and examine their Chartered Accountant in a civil suit. Petition dismissed in limine.
NCLT Mumbai held that entertaining objection raised by the applicant after the sale is confirmed unjustified as there is no allegation of fraud. Accordingly, application filed u/s. 60(5) of the IBC dismissed.
NCLT Mumbai dismissed the petition as not maintainable since debt in question is not undisputed debt. Accordingly, since there exists pre-existing dispute and tribunal cannot adjudicate upon such dispute.
Gujarat High Court held that once indexed renovation expense of co-owner accepted, the assessee is not required to produce any documents to prove his share of indexed renovation expense. Accordingly, allowance should be granted even without proof.
The Applicant is a Personal Guarantor to M/s Indian Clothing League Private Limited (the Corporate Debtor) for the cash credit facilities to the tune of Rs. 20 crore and Rs. 15 crore from the Punjab National Bank and Allahabad Bank, respectively.
NCLT Hyderabad held that partnership firm are not included under the definition of personal guarantor covered under section 5(22) of the IBC, 2016. Accordingly, insolvency proceedings u/s. 95 of IBC against partnership firm cannot be initiated.
Shri Shyam Industries Private Limited Vs Prosperity Steels Limited (NCLT Kolkata) In the case of Shri Shyam Industries Private Limited –vs.- Propserity Steels Ltd. [CP (IB) No. 998/KB/2018, Kol dated 18-02-2021], the Resolution Applicant sought various reliefs and concessions. In response to the same, NCLT has held as under: – With respect to waiver of […]
Assessee-company was engaged in the business of manufacturing and trading of Inverters & Batteries and had its factory premises in Himachal Pradesh. For running its operations, it had availed various facilities from financial creditors and also with SBI.
