Company Law : The MCA introduced a risk-based eligibility framework allowing more companies to access fast-track mergers. By replacing size crit...
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 : The Supreme Court upheld joint insolvency proceedings against two interconnected real estate companies due to common management an...
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...
Company Law : While approving the resolution plan, NCLT clarified that exemptions relating to taxes, duties, and statutory compliances must be o...
Corporate Law : Although the Scheme was sanctioned, the Tribunal clarified that the Income Tax Department remained free to investigate any tax imp...
Company Law : The Tribunal admitted insolvency proceedings after finding documentary evidence of operational debt, part payment, ledger confirma...
Company Law : Section 7 insolvency application filed by State Bank of India (SBI) was admitted against Martina Bio Genics Private Limited and he...
Corporate Law : The Tribunal held that for a guarantee payable on demand, limitation begins from the date the guarantee is invoked and not from th...
Corporate Law : The order permits single judicial members to handle procedural and uncontested matters. It ensures faster case disposal while pres...
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 ...
Over the years, for violations under the Companies Act, 2013 the government had been filing criminal cases as per the provisions of the Act. Out of more than 40,000 cases filed under the Companies Act, 1956 and Companies Act, 2013, almost 39,000 cases (more than 97 per cent) did not involve lapses of serious nature.
Shriraj Investment and Finance Ltd. & Ors. Vs Union of India & Anr. (Delhi High Court) Delhi HC: Where the case has been admitted in NCLT, all the contentions including power to initiate such proceeding should be raised before and concluded by NCLT only Shriraj Investment Pvt. Ltd. (Petitioner No. 1) and Casper Consumer Electronics […]
The Appointments Committee of the Cabinet has approved the proposal for appointment of the following persons to the posts of Judicial Member and Technical Member in the National Company Law Tribunal, in the pay scale of Rs.67,000-79,000/- (pre-revised), for a period of 05 years from the date of assumption of charge of the post, or till attaining the age of 65 years, or until further orders, whichever is the earliest
In Ravi Parthasarthy and Ors. v. State of Tamil Nadu [CRL. O.P. NOS. 3730, 4227, 4095 & 11206 OF 2021 CRL. M.P. NOS. 6647, 6649, 2218, 2601, 2679, 3388, 6708 & 6709 OF 2021 W.P. NO. 1397 OF 2021 AND W.M.P. NO. 5917 OF 2021 dated August 31, 2021]], Ravi Parthasarthy (Petitioner No. 1), Hari […]
Supreme Court Ghanashyam Mishra and Sons Private Limited Vs. Edelweiss Asset Reconstruction Company Limited & Ors. [CA No. 8129/2019] The Supreme Court (SC) held that the 2019 amendment to section 31 of the Code is clarificatory and declaratory in nature and is, therefore, effective from the date on which the Code came into effect. Even […]
DENA BANK (NOW BANK OF BARODA) VS. C. SHIVAKUMAR REDDY CIVIL APPEAL NO. 1650 OF 2020. FACTS In 2011, the Dena Bank had sanctioned a Term Loan and Letter of Credit Cum Buyers’ Credit in favour of M/s. Kavveri Telecom Infrastructure with an upper limit of Rs. 45.00 Crores. In 2013, the Loan Account of […]
Synopsis of: NCLT, Ahmedabad Bench, order ArcelorMittal to pay Rs 1300 crores to SREI Infrastructure Applicant: SREI Infrastructure Finance Limited (SREI) Respondent: 1. Arcelormittal India Private Limited (AIPL) Successful Resolution Applicant of Essar Steel India Ltd. 2. Sh. Satish Kumar Gupta, RP of Essar Steel India Ltd 3. Arcelormittal Nippon Steel India Ltd (earlier as […]
INTRODUCTION For any capitalist economy to survive, bankruptcy laws form an integral part of that economy. From every business be it a partnership, sole proprietorship or any limited liability company, bankruptcy laws help in the reorganization of the assorted assets of these corporations as well as the orderly dissolution of these assets. Therefore, from the […]
Immunity : The Government by the IBC amendment Act 2020 has inserted a new Section 32 A in the I&B Code to provide for immunity to the Corporate Debtor (Company) from offences committed in the past (Prior to the date of the Resolution Order). It has also been clarified that the provisions of the I&B […]
Jaiveer Singh Virk Vs Sir Sobha Singh & Sons Pvt. Ltd. (Delhi High Court) The next question is- what is the nature of Appellant’s right and whether such a right is enforceable under law? The Appellant asserts that he is a shareholder of Respondent No. 1, which is a corporate entity, incorporated in the year […]
