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Search Results for Tag : CIRP

Top Story

Rajya Sabha passes the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020(19.09.2020)

Rajya Sabha amends IBC by temporarily suspending initiation of Corporate Insolvency Resolution Process. The Insolvency and Bankruptcy Code (Second Ame.....

Tags : CIRP, Initiation, Suspension



IBBI amends the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016(21.07.2021)

The Insolvency and Bankruptcy Board of India (IBBI) notifies the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate.....

Tags : Amendment, Regulations, CIRP



News

SC: No Bar in Permitting Amendment of Pleadings or Filing of Documents in CIRP Application(05.08.2021)

Supreme Court has observed that there is no bar in permitting amendment of pleadings or to the filing of additional document in an application under S.....

Tags : Supreme Court, Amendment of Pleadings or Filing of Documents in CIRP Application



SC: Application for Initiating CIRP Has To Be Rejected If Dispute Truly Exists In Fact(12.08.2021)

Supreme Court has observed that adjudicating authority has to reject an application seeking initiation of Corporate Insolvency Resolution Process unde.....

Tags : Supreme Court, Application for Initiating CIRP



MCA Invites Public Comments on Proposed Changes to CIRP Framework under IBC(27.12.2021)

Ministry of Corporate Affairs has invited the Public Comments on proposed changes to Corporate Insolvency Resolution and Liquidation Framework under .....

Tags : Ministry of Corporate Affairs, Proposed Changes to CIRP Framework



NCLT: Guarantor is Entitled to Initiate CIRP Against Principal Borrower Under Right of Subrogation(30.06.2022)

National Company Law Tribunal (NCLT), Kolkata has held that if a Guarantor pays the debt on behalf of the Principal Borrower, then it steps into the s.....

Tags : NCLT, CIRP, Right of Subrogation



NCLAT, Delhi: Time Period Under Regulation 35A is Directory, Not Mandatory(27.04.2022)

National Company Law Appellate Tribunal, has observed that period of time prescribed under Regulation 35A of the IBBI (Insolvency Resolution Process f.....

Tags : National Company Law Appellate Tribunal, Regulation 35A, IBBI (Insolvency Resolution Process for Corporate Persons) (CIRP) Regulations, 2016



NCLAT, Delhi: Time Period Under Regulation 35A is Directory, Not Mandatory(27.04.2022)

National Company Law Appellate Tribunal, has observed that period of time prescribed under Regulation 35A of the IBBI (Insolvency Resolution Process f.....

Tags : National Company Law Appellate Tribunal, Regulation 35A, IBBI (Insolvency Resolution Process for Corporate Persons) (CIRP) Regulations, 2016



NCLAT, New Delhi Dismisses NOIDA Appeal Against Order Directing Participation in CIRP Process(09.03.2022)

National Company Law Appellate Tribunal, New Delhi has dismissed the Appeal preferred by New Okhla Industrial Development Authority (NOIDA) against th.....

Tags : National Company Law Appellate Tribunal, Participation in CIRP Process



Judgments

In case of default, Financial creditor either by itself or jointly with other financial creditor could file application for initiating CIRP against Corporate Debtor(07.11.2017)

The 'Financial Creditor'-Central Bank of India has filed the instant application under Section 7 of the Insolvency and Bankruptcy Code, 2016 ('the Cod.....

Tags : Financial debt, CIRP, Appointment



A Sole Proprietary Concern is not a person under Section 3(23) of IBC and it cannot initiate insolvency proceedings(23.09.2019)

In present case, RG Steels (Petitioner) has approached present Tribunal as Operational Creditor (OC) under the provisions of Section 9 of Insolvency a.....

Tags : Default, CIRP, Initiation



IBC is not a substitute to a recovery forum and whenever there is existence of real dispute, the IBC provisions cannot be invoked(04.09.2020)

The present appeal has been preferred by Kuntal Construction Pvt. Ltd. ('Operational Creditor') under Section 61 of the Insolvency & Bankruptcy Code 2.....

Tags : CIRP, Initiation, Legality



Bar under Section 10A of IBC against initiation of CIRP is retrospective and is applicable to applications filed from 25th March, 2020(09.02.2021)

The appellate jurisdiction of present Court under Section 62 of the Insolvency and Bankruptcy Code, 2016 ("IBC") has been invoked to challenge the jud.....

Tags : Initiation, CIRP, Interpretation, Provision



When default occurred over three years prior to filing of application, prayer to trigger CIRP against the Corporate Debtor is to be declined(16.02.2021)

The issue raised in present appeal against order passed by the Adjudicating Authority (National Company Law Tribunal), dismissing the Appellant's appl.....

Tags : CIRP, Initiation, Time bar



Issuance of Demand Notice under Section 8(1) of IBC is not a mere formality but a mandatory provision(29.01.2021)

The present Appeal has been filed against the impugned order passed by Adjudicating Authority (National Company Law Tribunal), New Delhi admitting Com.....

Tags : CIRP, Service, Demand Notice



A person who advanced interest free loans to corporate body is also a financial creditor and can initiate CIRP(26.07.2021)

Present appeal under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) is against the final judgment of the National Company Law Appellate .....

Tags : CIRP, Initiation, Right



No bar in permitting amendment of pleadings or filing of additional documents in CIRP application under Section 7 of IBC(04.08.2021)

Present Appeal under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) is against a judgment passed by the National Company Law Appellate T.....

Tags : Additional documents, CIRP, Bar



Holder of Recovery Certificate would be entitled to initiate CIRP under IBC(30.05.2022)

The present appeal challenges the judgment passed by the learned National Company Law Appellate Tribunal, New Delhi (“NCLAT”), thereby allowing the ap.....

Tags : CIRP, Initiation, Time limit



“Right to sue" accrues when a default occurs and if the default has occurred over three years prior to the date of filing of the Application, the Application would be barred(14.10.2020)

Present Appeal emanates from the Impugned Order passed by the Adjudicating Authority, whereby the Adjudicating Authority has admitted the Application .....

Tags : Initiation, CIRP, Legality



Application under Section 9 of the IBC after completion of the Corporate Insolvency Resolution Process against Corporate Debtor is not maintainable(13.06.2022)

Present is a Company Petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Bharat Pipe Fitting Co. (Operational Creditor.....

Tags : Operational Creditor, Right, CIRP



Period of limitation for initiation of CIRP under Section 7 of the IBC is three years from the date when right to apply accrues(14.08.2020)

Present appeal under Section 62 of the Insolvency and Bankruptcy Code, 2016 (IBC) is directed against the judgment and order passed by the National Co.....

Tags : Commencement, CIRP, Legality



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