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...
INTRODUCTION Financial distress caused by mounting non-performing assets (NPAs), stressed assets, and extended litigation afflicted India’s banking sector prior to the introduction of the Insolvency and Bankruptcy Code, 2016 (IBC). The Reserve Bank of India (RBI) tried numerous policies to help defaulting enterprises get out of trouble. The Sick Industrial Companies Act (SICA), the Companies […]
Sections in Companies Act 2013 which are Punishable in nature (Both Compoundable and Non-Compoundable) Offenses under Companies Act 2013 are categorized under following categories:- 1. Offenses which are Liable to Penalty (They are Adjudicated by ROC’s themselves in an IAM mechanism) {https://taxguru.in/company-law/sections-companies-act-penal-provisions-subjected-in-house-adjudication-framework.html} 2. Offenses which are Punishable in Nature and can be Compoundable offense or […]
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 […]
It has been decided to start regular hearing in NCLT Benches w.e.f. 1.07.2021 through Video Conference on all working days or as mentioned in remarks Column. The Composition of the Benches is as follows:
Dewan Housing Finance Corporation Ltd (DHFL) is a Housing Finance Company focussed in Tier-II/III cities with a loan book of more than 90,000 Crore, which was once the 2nd largest lender in this segment (after HDFC) has faced lot of challenges on account of irregularities in operations followed by RBI suspending Board of Directors and initiating CIRP process.
Explore legal aspects of merger and amalgamation (M&A) under Companies Act, 2013. Learn about valuation, NCLT, approvals, and post-merger compliance.
Vishwanath Sharma Vs Pawan Kumar Singal (NCLT Delhi) In relation to repeated assertion made by Senior Counsel Mr. Ganda that without disposing of the Application filed by Dhankalash Distributors Pvt. Ltd in IA-2116/2021 and IA-2184/2021 challenging the constitution of the voting share percentage of the Homebuyers, which will have a significant impact on the voting […]
R. Subramaniakumar Vs Committee of Creditors (NCLT) The present Interlocutory application is filed by Mr. R. Subramaniakumar the Applicant, Administrator of Dewan Housing Finance Corporation Limited, for the Corporate Debtor by submitting a resolution plan under section 30(6) and section 31 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) read with Regulation 39(4) of […]
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 […]
Lalit Kumar Jain Vs Union of India (Supreme Court of India) A Supreme Court bench held that approval of the resolution plan for revival of sick companies under the Insolvency and Bankruptcy Code 2016 does not discharge personal guarantors of their liability to pay back the banks or financial institutions (FIs) as they are bound […]
