Search Results for Tag : Bankruptcy Code
Judgments
Application under Section 7 of the IBC is filed only when the right to apply against default accrues and for every default, there is a fresh period of limitation(24.05.2023)
The present appeal has been filed under Section 61 of the Insolvency & Bankruptcy Code, 2016 (IBC) against the 'impugned order' passed by the 'Adjudic.....
Tags : Period of Limitation, Insolvency and Bankruptcy Code
Notifications & Circulars
National Company Law Tribunal effective 1 June 2016(01.06.2016)
The Central Government constituted the National Company Law Tribunal and Appellate Tribunal for hearing matters arising under the Companies Act and th.....
Tags : companies act, bankruptcy code, company law tribunal
Government Panel invites suggestions/comments from stakeholders about the provisions of the Insolvency and Bankruptcy Code and the Rules and Regulations notified there under(14.12.2017)
In the First Meeting of the Insolvency Law Committee, held on 08th December, 2017, under the Chairmanship of the Secretary, Ministry of Corporate Affa.....
Tags : Suggestions, Stakeholders, Bankruptcy Code
News
Rajya Sabha Passes Insolvency and Bankruptcy Code (Amendment) Bill, 2019(30.07.2019)
Rajya Sabha has passed the Insolvency and Bankruptcy Code (Amendment) Bill, 2019. This Bill if passed will , ease the process of corporate restructuri.....
Tags : Rajya Sabha, Insolvency and Bankruptcy Code (Amendment) Bill, 2019
NCLAT: NCLT Doesn't Have Power to Classify Transaction As Preferential Transaction(16.05.2022)
National Company Law Appellate Law Tribunal, has observed that NCLT does not have the power to suo-moto classify a transaction as a Preferential Trans.....
Tags : National Company Law Appellate Law Tribunal, Section 44, Insolvency and Bankruptcy Code, 2016, Preferential Transaction
Delhi HC: Pendency of Insolvency Petition Is Not Bar to Appointment of Arbitrator(16.05.2022)
Delhi High Court has observed that the mere pendency of an insolvency petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 is not a ba.....
Tags : Delhi High Court, Section 9, Insolvency and Bankruptcy Code, 2016, Arbitrator
NCLAT: Salary Incrementation is Valid by Employment Agreement or Board Resolution(16.05.2022)
National Company Law Appellate Tribunal, (NCLAT) has observed that salary incrementation is valid only by an employment agreement or board resolution .....
Tags : National Company Law Appellate Tribunal, Insolvency and Bankruptcy Code, 2016, Section 9
NCLAT: Insolvency Cannot be Initiated on Basis of Unpaid LTC And Leave Encashment Dues(16.05.2022)
National Company Law Appellate Tribunal, has ruled that the welfare claims such as Leave Encashment, superannuation dues are not operational debt for .....
Tags : National Company Law Appellate Tribunal, Leave Encashment, Corporate Debtor, Section 9, Insolvency & Bankruptcy Code, 2016, superannuation dues
NCLAT: Salary Incrementation is Valid by Employment Agreement or Board Resolution(16.05.2022)
National Company Law Appellate Tribunal, (NCLAT) has observed that salary incrementation is valid only by an employment agreement or board resolution .....
Tags : National Company Law Appellate Tribunal, Insolvency and Bankruptcy Code, 2016, Section 9
Bombay HC: No Bar on Court Exercising Jurisdiction Even When Application U/S 7 of IBC is Filed(27.04.2022)
Bombay High Court has ruled that since application under Section 7 of the Insolvency and Bankruptcy Code, 2016 is filed, which is pending for consider.....
Tags : Bombay High Court, Section 7, Insolvency and Bankruptcy Code, 2016, Section 11, Arbitration and Conciliation Act, 1996
NCLAT: Interest Free Security Deposit is an Operational Debt(28.04.2022)
National Company Law Appellate Tribunal has observed that an interest free security deposit towards advance license fee will qualifies as an operation.....
Tags : National Company Law Appellate Tribunal, interest free, security deposit, Insolvency & Bankruptcy Code, 2016
NCLAT: Territorial Jurisdiction Cannot be Taken Away by Agreement Between Parties(28.04.2022)
National Company Law Appellate Tribunal has observed that the territorial jurisdiction of NCLT to decide a case under the Insolvency and Bankruptcy Co.....
Tags : National Company Law Appellate Tribunal, Insolvency and Bankruptcy Code, 2016, territorial jurisdiction
Supreme Court: Insolvency And Bankruptcy Code is Not for Money Recovery Proceedings(28.04.2022)
Supreme Court has reiterated that the provisions of Insolvency and Bankruptcy Code, 2016 are basically intended to bring the corporate debtor to its f.....
Tags : Supreme Court, Insolvency and Bankruptcy Code, 2016
NCLAT: Resolution Professional Can Submit An Additional Report Under Section 99 I&B Code(29.04.2022)
National Company Law Appellate Tribunal has observed that the Resolution Professional can submit an additional report under Section 99 of the Insolven.....
Tags : National Company Law Appellate Tribunal, Section 99, Insolvency & Bankruptcy Code, 2016
NCLAT: If Credit Facility Agreement is Unstamped, Petition U/S Section 7 is Maintainable(29.04.2022)
National Company Law Appellate Tribunal has observed that if a credit facility agreement is unstamped, then petition under Section 7 of the Insolvency.....
Tags : National Company Law Appellate Tribunal, credit facility, Section 7, Insolvency and Bankruptcy Code, 2016
CIVIL - IBC Reigns Supreme Over Other Civil Laws: Delhi High Court(25.02.2019)
Delhi High Court on Friday upheld the supremacy of Insolvency and Bankruptcy Code (IBC) over other civil laws such as those of contracts and guarantee.....
Tags : Delhi High Court, Insolvency and Bankruptcy Code, IBC
CIVIL - IBC Reigns Supreme Over Other Civil Laws: Delhi High Court(25.02.2019)
Delhi High Court has upheld supremacy of Insolvency and Bankruptcy Code (IBC) over other civil laws such as those of contracts and guarantees and said.....
Tags : Delhi High Court, Insolvency and Bankruptcy Code, IBC
SC Issues Notice to Union Government on Petitions Challenging Constitutionality of IBC Ordinance(14.01.2020)
Supreme Court has issued a notice to the Union Government on Petitions Challenging Constitutional Validity of Insolvency and Bankruptcy Code (Amendmen.....
Tags : Supreme Court, Insolvency and Bankruptcy Code Ordinance
Application Under Sec. 7 of IBC can’t be Admitted After Settlement Between Parties: NCLAT(06.12.2018)
National Company Law Appellate Tribunal has declared admission of application under Section 7 of the Insolvency and Bankruptcy Code after settlement b.....
Tags : NCLAT, Section 7 of Insolvency and Bankruptcy Code
Rajya Sabha Approves Insolvency and Bankruptcy Code (Amendment) Bill, 2020(13.03.2020)
Rajya Sabha has passed amendments to the insolvency law in the Insolvency and Bankruptcy Code (Amendment) Bill, 2020 that will help ring-fence success.....
Tags : Parliament, Insolvency and Bankruptcy Code (Amendment) Bill, 2020
Insolvency and Bankruptcy Code Kicks In With Effect From Today(01.12.2016)
Insolvency and Bankruptcy Code which aims to help quicker resolution of cases and unlock value of assets has become operational from today.
Tags : Insolvency and Bankruptcy Code
NCLAT: Initiation Of CIRP Not A Pre-Requisite To Initiate IRP Against The Personal Guarantor(28.01.2022)
NCLAT has held that initiation of Corporate Insolvency Resolution Process is not a pre-requisite to initiate Insolvency Resolution Process (IRP) again.....
Tags : Insolvency and Bankruptcy Code, NCLAT, Corporate Insolvency Resolution Process
Telangana HC: Scrutiny By IT Department Barred For The Period Covered By The Resolution Plan(28.01.2022)
Telangana High Court has observed that for the period covered by the Resolution Plan, Income Tax Department cannot carry out any scrutiny or assessmen.....
Tags : Income Tax Act, Insolvency and Bankruptcy Code, Corporate Debtor, Financial Creditor
NCLT: Proceedings u/s 138 NI Act Have Nothing To Do With Insolvency Application Under I&B Code(28.07.2017)
National Company Law Tribunal has ruled that disclosure of fact of initiation of proceedings u/s 138 of Negotiable Instruments Act in not necessary wh.....
Tags : National Company Law Tribunal, Insolvency and Bankruptcy Code
Delhi High Court Issues Notice in Plea Challenging IBC Ordinance(30.07.2020)
Delhi High Court has issued notice to the Ministry of Law and Justice and Insolvency and Bankruptcy Board of India in a plea challenging the validity .....
Tags : Delhi High Court, Insolvency and Bankruptcy Code Ordinance, 2020
NCLAT, Delhi: Quantum of Debt Not to be Decided At Stage of Admission of S. 7 IBC Application(18.04.2022)
National Company Law Appellate Tribunal, Delhi has observed that the quantum of debt is not to be considered at the stage of admission of a petition u.....
Tags : National Company Law Appellate Tribunal, Section 7 of the Insolvency and Bankruptcy Code, 2016, admission
NCLAT: 14 Days Timeline to Admit or Reject Case Under IBC a 'Mere Directive'(22.05.2017)
National Company Law Appellate Tribunal (NCLAT) has said that 14-day timeline for rejecting or admitting a case under Insolvency and Bankruptcy Code (.....
Tags : National Company Law Appellate Tribunal, Insolvency and Bankruptcy Code
NCLAT Rules 'Dispute' As Defined in IBC is Illustrative and Not Exhaustive(25.05.2017)
National Company Law Appellate Tribunal has held that the term “dispute” as defined in Insolvency and Bankruptcy Code (S. 9) is illustrative and not e.....
Tags : National Company Law Appellate Tribunal, Insolvency and Bankruptcy Code
Centre Notifies Regulations for Liquidation Process Under New Bankruptcy Code(19.12.2016)
Central Government has notified rules by which companies can go through liquidation under Insolvency and Bankruptcy Code (IBC), 2016.
Tags : Central Government, liquidation, Insolvency and Bankruptcy Code (IBC), 2016
PMLA Appellate Authority: IBC Prevails Over Prevention of Money Laundering Act(24.09.2019)
In an important decision, the Appellate Authority of the Prevention of Money Laundering Act, 2002 has upheld the prevalence of the Insolvency and Bank.....
Tags : Appellate Authority of the Prevention of Money Laundering Act, 2002, Insolvency and Bankruptcy Code, PMLA
NCLAT: No Bar in Pendency of Execution Proceedings u/s 9 IBC(07.04.2022)
National Company Law Appellate Tribunal has observed that the pendency of an execution petition does not bar the operational creditor from filing a pe.....
Tags : National Company Law Appellate Tribunal, execution petition, Section 9 of the Insolvency and Bankruptcy Code, 2016
NCLAT Delhi: Resolution Professional Cannot Decide Eligibility Under Section 29A IBC(07.04.2022)
National Company Law Appellate Tribunal has observed that the Resolution Professional is not required to take a decision in regard to the ineligibili.....
Tags : National Company Law Appellate Tribunal, Resolution Professional, Section 29A of the Insolvency & Bankruptcy Code, 2016, Resolution Applicant
SC: Adj. Authority Has Power to Recall Order Approving RP Which Isn’t Submitted As Per IBC(14.02.2024)
Supreme Court has held that National Company Law Tribunal has the power under Insolvency and Bankruptcy Code, 2016 (IBC) to recall its order approving.....
Tags : Supreme Court, NCLT, Resolution Plan, Insolvency and Bankruptcy Code
NCLAT: Pendency of Appeal Under Arbitration Act Does Not Bar Insolvency Process Under IBC(01.09.2017)
National Company Law Appellate Tribunal has observed that pendency of S.37 appeal under Arbitration Act cannot be treated as an ‘existence of dispute’.....
Tags : National Company Law Appellate Tribunal, Insolvency and Bankruptcy Code
Supreme Court: Insolvency and Bankruptcy Code Prevails Over State Laws(04.09.2017)
Supreme Court has ruled that the Insolvency and Bankruptcy Code, 2016 (Code), being a central statute, will prevail over the state laws that are repug.....
Tags : Supreme Court, Insolvency and Bankruptcy Code
Limitation Act Applicable to Applications Filed Under Sec 7 and 9 of IBC from Inception of Code: SC(12.10.2018)
Supreme Court has held that the Limitation Act is applicable to applications filed under Sections 7 and 9 of Insolvency and Bankruptcy Code From the i.....
Tags : Supreme Court, Insolvency and Bankruptcy Code
NCLAT: Article 1 of Limitation Act,1963 not Apply to Proceedings Under IB Code, 2016(26.05.2022)
National Company Law Appellate Tribunal (NCLAT) Principal Bench has held that the Article 1 of Limitation Act, 1963 is not applicable to the Petition .....
Tags : National Company Law Appellate Tribunal, Insolvency and Bankruptcy Code, Limitation
Corporate Debtor can’t Maintain Appeal Under Insolvency & Bankruptcy Code: NCLAT(16.11.2018)
National Company Law Appellate Tribunal has dismissed an appeal filed by M/s Radius Infratel Pvt. Ltd. and held that corporate debtor cannot maintain .....
Tags : NCLAT, Insolvency & Bankruptcy Code
NCLT, Chennai: No Conflict Among Prohibition of Benami Property Transaction Act and IBC, 2016(06.05.2022)
National Company Law Tribunal, Chennai has ruled that there is no conflict between the Prohibition of Benami Property Transaction Act, 1988 and the In.....
Tags : National Company Law Tribunal, Prohibition of Benami Property Transaction Act, 1988, Insolvency and Bankruptcy Code, 2016, attachment of property
NCLAT: Threshold of Rs.1 Crore Is Required for Initiation of CIRP(12.05.2022)
National Company Law Appellate Tribunal (NCLAT) has ruled that an application filed after 24.03.2020 under Section 7 of the Insolvency and Bankruptcy .....
Tags : National Company Law Appellate Tribunal, Section 7, Insolvency and Bankruptcy Code, 2016, threshold, One Crore
Finance Minister Introduces Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021(27.07.2021)
Finance Minister Nirmala Sitharaman has introduced the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021, which amends the Insolvency and Ban.....
Tags : Finance Minister, Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021
SC: NCLT Has to Admit Section 7 Petition if Debt is Due(15.05.2023)
Supreme Court while observing that even non¬-payment of a part of debt when it becomes due and payable will amount to default on part of a Corporate D.....
Tags : Supreme Court, Corporate Debtor, Insolvency and Bankruptcy Code
SC: Sessions Judge has Power to Issue Process Against Accused in Offences Under IBC, 2016(22.04.2024)
SC while upholding issuance of process by sessions judge in an offence committed under Insolvency and Bankruptcy Code, 2016 (IBC), has observed that S.....
Tags : Supreme Court, Insolvency and Bankruptcy Code, Sessions Judge
SC: Appeal Under IBC is Valid Only if it is Initiated Within 30 days From Date of Order(17.05.2022)
Supreme Court has ruled that an appeal under the Insolvency and Bankruptcy Code, 2016 (IBC) is only acceptable if it is filed within 30 days from the .....
Tags : Supreme Court, Insolvency and Bankruptcy Code, 2016, 30 days, National Company Law Tribunal
SC Declares Noida As Operational Creditor Under IBC(18.05.2022)
Supreme Court has ruled that the NOIDA is an operational creditor under the provisions of the Insolvency and Bankruptcy Code, 2016 (IBC).
Tags : Supreme Court, NOIDA, Insolvency and Bankruptcy Code, 2016, creditor
Supreme Court Reiterates Section 18 Limitation Act Is Applicable To IBC Proceedings(19.05.2022)
Supreme Court reiterates that the provisions of Section 18 of the Limitation Act are applicable to proceedings under the Insolvency and Bankruptcy C C.....
Tags : Supreme Court, Insolvency and Bankruptcy Code, 2016, Section 18 Limitation Act
Del HC: Invoking Penalty Proc. Based on NFAC’s Own Failure to Lodge Claim Can’t be Sustained by them(19.04.2024)
Delhi High Court has held that invocation of penalty proceedings that are based on the National Faceless Assessment Centre’s (NFAC) own failure to lod.....
Tags : Delhi High Court, Penalty Proceedings, NFAC, Insolvency and Bankruptcy Code
Supreme Court Upholds Validity of Insolvency & Bankruptcy Code(28.01.2019)
Supreme Court has upheld the two-year old insolvency code in its entirety, quashing petitions which challenged the law saying it was discriminatory.
Tags : Supreme Court, Insolvency & Bankruptcy Code
Supreme Court Upholds Sections 3, 4 & 10 of IBC Amendment Act 2020(20.01.2021)
Supreme Court has upheld the constitutional validity of Sections 3, 4 and 10 of the Insolvency and Bankruptcy Code (Amendment) Act 2020.
Tags : Supreme Court, Insolvency and Bankruptcy Code (Amendment) Act 2020
Financial Service Providers Outside Purview of Insolvency and Bankruptcy Code: NCLAT(24.10.2018)
National Company Law Appellate Tribunal has held that financial service providers such as non-banking financial companies are outside the purview of t.....
Tags : NCLAT, Financial Service Providers, Insolvency and Bankruptcy Code
Financial Service Providers Outside Purview of Insolvency and Bankruptcy Code: NCLAT(24.10.2018)
National Company Law Appellate Tribunal has held that financial service providers such as non-banking financial companies are outside the purview of t.....
Tags : NCLAT, Financial Service Providers, Insolvency and Bankruptcy Code
First Time Dispute in Reply of Demand Notice Doesn't Constitute Pre Existing Dispute Under IBC: NCLAT(30.11.2018)
National Company Law Appellate Tribunal has held that a dispute raised for the first time in reply to demand notice or in response to Adjudicating Aut.....
Tags : NCLAT, Insolvency and Bankruptcy Code
Lawyer Can Issue Demand Notice of Unpaid Operational Debt on Behalf of Operational Creditor: SC(18.12.2017)
Supreme Court has held that a lawyer on behalf of the operational creditor can issue a demand notice of an unpaid operational debt.The court also held.....
Tags : Supreme Court, Insolvency and Bankruptcy Code
SC Stays NCLAT Order That Said Limitation Act Doesn’t Apply To Proceedings Under IBC(11.01.2018)
Supreme Court has stayed the order of the National Company Law Appellate Tribunal which said the provisions of the Limitation Act were not applicable .....
Tags : Supreme Court, Insolvency and Bankruptcy Code
Calcutta HC: Application to Set Aside Arbitral Award Cannot Be Put on Hold Due to Invocation of IBC(20.01.2020)
Calcutta High Court has stated that an application to set aside an arbitral award under the Arbitration and Conciliation Act, 1996 cannot be kept in a.....
Tags : Calcutta High Court, Set Aside of Arbitral Award, Insolvency and Bankruptcy Code Provisions
NCLAT Widens Definition of “Dispute” to Resist an Action for Insolvency Under Bankruptcy Code(29.06.2017)
NCLAT has widened definition of 'dispute' u/s 8,9 of Insolvency and Bankruptcy Code to include, apart from existing suits and arbitrations, any other .....
Tags : NCLAT, Insolvency and Bankruptcy Code
NCLAT: Payment of Lease Amount, Rent & Premium Arising During CIRP Cannot Be Considered as CIRP Costs(28.10.2024)
The National Company Law Appellate Tribunal (NCLAT) has observed that the payment of lease amount, lease rent and premium arising during CIRP cannot b.....
Tags : National Company Law Appellate Tribunal, CIRP Cost, Section 14, Insolvency and Bankruptcy Code, 2016
NCLAT: Dissenting Financial Creditor Entitled to Liquidation Value of its Secured Interest only(28.10.2024)
The National Company Law Appellate Tribunal (NCLAT) has observed that as per Section 30(2)(b) of Insolvency and Bankruptcy Code, 2016 (IBC), a dissent.....
Tags : National Company Law Appellate Tribunal, Section 30(2)(b), Insolvency and Bankruptcy Code, 2016