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 ...
Due to the various ground realties the corporates have not been able to take benefit of the scheme. Therefore in these difficult times the extension of CFSS, 2020 is imperative and paying such hefty penalties & fines will not be in best interest of all stakeholders. Thus we request your good office to extend the CFSS, 2020 and other related relaxations till 31.03.2020 in the interest of all stakeholders.
Pratap Technocrats P Ltd & Ors Vs. Monitoring Committee of Reliance Infratel Ltd & Anr (NCLAT) Brief Facts: The version of appellants says that they were kept unaware of the Corporate Insolvency Resolution Process qua the Corporate Debtor, thus being wholly unaware of the progress of Resolution Process with no details provided by the Resolution […]
The term of office of Shri Bethala Shantha Vijaya Prakash Kumar, Member (Judicial), as Acting President, NCLT is further extended from 05.12.2020 to till the appointment of regular President of NCLT, or until the date on which he shall complete his tenure as Member (Judicial), NCLT i.e. 31.05.2021 (completion of 5 years’ tenure), or until further orders, whichever is earliest.
It is hereby informed that the Competent Authority has decided that Automatic Case Number Generation should be mandatorily started from In January 2021 in all NCLT benches across the Country.
Mr Rajnish Jain Vs Manoj Kumar Singh – I.R.P. (NCLAT, Delhi) Resolution Professional or Committee of Creditors cannot reclassify status of a creditor from Financial to Operational Creditor NCLAT held that during CIRP, the IRP is authorised to collate the claims, and based on that he is empowered to constitute the Committee of Creditors. We […]
Procedure To Revive The Struck Off Company Under Companies Act, 2013 In Conjunction With NCLT Amendment Rules 2017 In this Article, Process to revive the companies which has been struck off by ROC as per Section 248 of Companies Act, 2013 shall be discussed. Grounds on which Revival can be initiated : As per Section […]
Notification dated 24.03.2020 does not save the Applicant/ Corporate Debtor from the initiation of insolvency especially in cases where defaults towards creditors have taken place before the COVID pandemic and the resultant financial crisis. Such an interpretation would be contrary to the intention of the executive in exercise of its power of delegated legislation. If the intention was to provide for a blanket protection to Corporate Debtors from being dragged to the NCLT irrespective of when or what extent a default has taken place, it would necessarily require a legislative amendment, and that a mere issuance of the notification would not suffice.
Summary of Orders related to IBC 2016 passed by IBBI, NCLT, NCLAT, HC & SC during July to September 2020 Orders by Supreme Court M/s Marathe Hospitality Vs. Mahesh Surekha & Ors. [SLP (C) No. 8139/2020] The petitioner filed an appeal before the NCLAT. However, the NCLAT closed its functioning as one of its employees […]
File No. 10/03/2020-NCLT NATIONAL COMPANY LAW TRIBUNAL 6th Floor, Block-3, CGO Complex, Lodhi Road, New Delhi- 110003 Dated: 25 November 2020 ORDER The NCLT Benches are hereby re-constituted as under to attend regular hearing through Video Conference w.e.f. 1.12.2020. The Benches shall hear the matters of respective jurisdiction as were hearing before lockdown (before 23rd […]
Kaledonia Jute And Fibres Pvt. Ltd Vs Axis Nirman And Industries Ltd. & Ors. (Supreme Court of India) Section 278 of the 2013 Act shows that any petition by a single creditor or contributory is actually treated as a joint petition of creditors and contributories, so that the order of winding up operates in favour […]
