Utt. HC: Conditional Liberty Must Override Statutory Embargo Under NDPS Act  ||  Utt. HC: While Exercising Inherent Jurisdiction, HC Does Not Function As Court of Appeal or Revision  ||  Pat. HC: Alcohol Consumption Cannot be Conclusively Proved Through Breath Analyzer Report  ||  Ker. HC: Emp. Messaging in Pvt. Whatsapp Group About Safety of Company Doesn’t Attract Disc. Proc.  ||  Ker. HC: Circular Issued to Enable Service of Notice, Summons Through E-Post in Trivandrum  ||  Gau. HC: Compensation Denied Over Death of Man Not Proved to be Bonafide Passenger  ||  Madras HC: Public Service is Being Performed by Lawyers, They Cannot be Denied Funds  ||  Gau. HC: Compensation Awarded to Wife of Deceased Driver Enhanced  ||  Bom. HC: Bar Council of Mah. & Goa Directed to Take Action Against Lawyer Who Appeared Without Band  ||  Delhi High Court: Bail Granted to Chief Minister Arvind Kejriwal in Liquor Policy Scam Case    

Search Results for Tag : Insolvency

Top Story

Centre notifies Regulations for Insolvency Resolution and Bankruptcy Proceedings of Personal Guarantors to Corporate Debtors(20.11.2019)

The Insolvency and Bankruptcy Board of India (IBBI) notifies Regulations for Insolvency Resolution and Bankruptcy Proceedings of Personal Guarantors t.....

Tags : New Rules, Insolvency Resolution, Corporate debtors



Insolvency and Bankruptcy Bill, 2015(09.11.2015)

The Ministry of Finance has placed the draft Insolvency and Bankruptcy Bill, 2015 on its website and is receiving comments on it till 19 November 2015.....

Tags : Bankruptcy, insolvency, draft, bill, 2015, report



Notifications & Circulars

Insolvency and Bankruptcy Board of India signs a Memorandum of Understanding with the Reserve Bank of India(12.03.2018)

The Insolvency and Bankruptcy Board of India (IBBI) signed a Memorandum of Understanding (MoU) today with the Reserve Bank of India (RBI). The MoU was.....

Tags : MOU, Signing of, Insolvency



2nd International Research Conference on Insolvency and Bankruptcy being organized by IBBI from 23rd - 25th February 2023(21.02.2023)

1. The Insolvency and Bankruptcy Board of India (IBBI) in collaboration with the Indian Institute of management, Bangalore (IIMB) is organizing the se.....

Tags : International Research, Conference, Insolvency



Judgments

When there is no specific denial against the assertions made by the creditors, it implies admission(16.10.2020)

Present are appeals preferred under Section 483 of the Companies Act, 1956, read with Section 5 of the High Court Act, challenging the correctness of .....

Tags : Insolvency, Winding up, Validity



Insolvency and Bankruptcy Board of India (Insolvency Professionals) (Amendment) Regulations, 2024(31.01.2024)

In exercise of the powers conferred by clauses (aa) and (t) of sub-section (1) of section 196, section 208 read with section 240 of the Insolvency and.....

Tags : Insolvency Professionals, Amendment, Regulations



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



Insolvency professional to ensure compliance with provisions of the applicable laws(03.01.2018)

1. A corporate person undergoing insolvency resolution process, fast track insolvency resolution process, liquidation process or voluntary liquidation.....

Tags : Insolvency, Compliance, Applicable laws



Action under Section 7 of the IBC could be invoked even against a (corporate) guarantor(26.03.2021)

Two central issues arise for determination in present appeal are (i) Whether an action under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IB.....

Tags : Insolvency Process, Maintainability, Corporate Guarantor



News

NCLAT Refuses to Defer Order on Uttam Galva Units’ Insolvency Case(26.06.2018)

National Company Law Appellate Tribunal (NCLAT) has refused to direct the Mumbai bench of National Company Law Tribunal (NCLT) to defer its pronouncem.....

Tags : Insolvency, IBC



NCLT Directs Alok Industries’ RP to Submit Approval for RIL-JM Fin Plan(26.06.2018)

Ahmedabad bench of National Company Law Tribunal (NCLT) has directed the Resolution Professional (RP) of Alok Industries to submit an application for .....

Tags : Insolvency, IBC



IBBI Denies Registration as IP Against Whom Criminal Proceedings Are Pending(26.06.2018)

Insolvency and Bankruptcy Board of India ( IBBI ) has rejected an application for registration as an Insolvency Professional (IP) of an individual aga.....

Tags : Insolvency, IBC



NCLT Admits Insolvency Petition Against Uttam Galva Steel Subsidiary(27.06.2018)

Mumbai bench of National Company Law Tribunal (NCLT) has admitted an insolvency petition filed by State Bank of India (SBI) against Uttam Value Steel .....

Tags : Insolvency, IBC



NCLT: Guarantor’s Mortgaged Asset Can be Liquidated(28.06.2018)

National Company Law Tribunal has ordered liquidation of mortgaged property of a guarantor as part of the recovery of loans to a bankrupt company.

Tags : Insolvency, IBC



NCLAT Refuses to Stay Electrosteel Delisting(28.06.2018)

National Company Law Appellate Tribunal (NCLAT) has refused to stay the delisting of Electrosteel Steels shares by its new promoter Vedanta.

Tags : Insolvency, IBC



NCLAT Stays NCLT Order on Appointment of Directors to 63 Moons(28.06.2018)

National Company Law Appellate Tribunal (NCLAT) has stayed an order of Chennai Bench of National Company Law Tribunal (NCLT), which allowed the govern.....

Tags : Insolvency, IBC



NCLT Asks Alok Industries RP to Reconsider Plan Submitted by RIL(12.06.2018)

Ahmedabad bench of National Company Law Tribunal (NCLT) has directed the Resolution Professional (RP) for Alok Industries to reconsider the resolution.....

Tags : Insolvency, IBC



NCLT Admits Andhra Bank’s Insolvency Plea Against Sterling(12.06.2018)

National Company Law Tribunal (NCLT) has admitted the insolvency petition filed by Andhra Bank against Mumbai-based Sterling Biotech Ltd, which owes a.....

Tags : Insolvency, IBC



No Provision of Summer Break for NCLT, NCLAT: Government(12.06.2018)

Government has said that there’s no provision for vacation under the rules framed in 2016 for National Company Law Tribunals (NCLT) and National Compa.....

Tags : Insolvency, IBC



Creditor Need Not Give Notice of Default to Corporate Debtor: NCLT(13.06.2018)

Mumbai Bench of National Company Law Tribunal (NCLT) has observed that prior notice is not required to be given by a creditor under the Insolvency & B.....

Tags : Insolvency, IBC



IBBI Prescribes Norms for Fee and Other Expenses Incurred for CIRP(13.06.2018)

Insolvency and Bankruptcy of India ( IBBI ) has prescribed fee and other expenses incurred for Corporate Insolvency Resolution Process.

Tags : Insolvency, IBC



Bombay High Court Drops Videocon Case Against SBI, RBI(14.06.2018)

Bombay High Court has disposed of a petition filed by Videocon Industries Ltd, objecting to the initiation of bankruptcy proceedings against the compa.....

Tags : Bombay High Court, Insolvency



NCLT Grants Additional 20 Days for Adhunik Metaliks to Complete CIRP(19.06.2018)

Kolkata Bench of National Company Law Tribunal (NCLT) has granted an additional 20 days time for Adhunik Metaliks to complete its ongoing insolvency r.....

Tags : Insolvency, IBC



NCLT Allows Admission of Claims at Liquidation Stage(21.06.2018)

National Company Law Tribunal (NCLT), Delhi has ruled that claims made by creditors that were not admitted by the resolution professional during morat.....

Tags : Insolvency, IBC



Allahabad High Court: Power Cos Without Wilful Defaulter Tag Can't be Taken to NCLT(04.06.2018)

Allahabad High Court has ruled that a power company can’t be taken to bankruptcy court for not repaying loans unless it has been declared a wilful def.....

Tags : Allahabad High Court, Insolvency



SEBI Provides Relaxations for Insolvent Companies(05.06.2018)

SEBI has relaxed requirements to comply with delisting norms for companies facing insolvency proceedings provided the resolution plan lays down the pr.....

Tags : SEBI, Insolvency



NCLT Admits Proceedings Against Shri Lakshmi Cotsyn(05.06.2018)

National Company Law Tribunal has admitted insolvency proceedings against BSE-listed Shri Lakshmi Cotsyn after the Kanpur-based textile manufacturer f.....

Tags : National Company Law Tribunal, Insolvency



NCLT Admits Videocon Case for Insolvency Proceedings(08.06.2018)

National Company Law Tribunal (NCLT) has admitted the case of Videocon Industries for insolvency proceeding.

Tags : Insolvency, IBC



Section 29A Ineligibility Doesn't Apply to Ongoing Insolvency Proceedings: NCLT(11.06.2018)

National Company Law Tribunal (NCLT) has ruled that Section 29A ineligibility under Insolvency and Bankruptcy Code (IBC) doesn’t apply to ongoing inso.....

Tags : NCLT, Insolvency



NCLT Extends Insolvency Resolution Period of Bhushan Energy(11.06.2018)

National Company Law Tribunal (NCLT) has extended the insolvency resolution period of the debt ridden firm Bhushan Energy Ltd by another 90 days.

Tags : NCLT, Insolvency



NCLT Extends Insolvency Resolution Period of Ruchi Soya(11.06.2018)

Mumbai bench of National Company Law Tribunal (NCLT) has extended the deadline for the resolution process of Ruchi Soya Ltd by 90 days.

Tags : NCLT, Insolvency



NCLT Bars Jignesh Shah, Nine Others from Being Directors in Companies(11.06.2018)

National Company Law Tribunal (NCLT) has barred Jignesh Shah and nine others from holding directorship in 63 Moons Technologies as well as any other c.....

Tags : NCLT, Insolvency



Insolvency and Bankruptcy Board of India Relaxes Norms for Information Utilities(06.10.2017)

Insolvency and Bankruptcy Board of India has relaxed norms for information utilities, paving way for Indian companies listed on the stock exchanges to.....

Tags : Insolvency and Bankruptcy Board of India, Information Utilities



Supreme Court: Loan Resolution Platforms Under IBC Must Not Be Used For Settling Commercial Disputes(10.10.2017)

Supreme Court has dismissed bankruptcy proceedings brought by a vendor against mobile-technology partner to a popular reality show, sending a strong m.....

Tags : Supreme Court, Insolvency Code



NCLAT: NCLT has Inherent Power to Levy Moratorium Before Starting of Corporate Insolvency Resolution(26.08.2019)

National Company Law Appellate Tribunal (NCLAT) has ruled that once an application for initiating insolvency proceedings is filed, National Company La.....

Tags : NCLAT, Insolvency



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



IBBI Amends Guidelines on Technical Standards for Performance of Core Services(29.07.2021)

Insolvency and Bankruptcy Board of India (IBBI) has notified the Guidelines for Technical Standards for the Performance of Core Services and Other Ser.....

Tags : Insolvency and Bankruptcy Board of India, Guidelines on Technical Standards for Performance of Core Services



NCLT Reserves Order on Jyoti Structures’ Resolution Plan(22.06.2018)

Mumbai bench of the National Company Law Tribunal (NCLT) has reserved its order on both the plan placed before it by the resolution professional of Jy.....

Tags : Insolvency, IBC



NCLT Allows Extension of Deadline to Evaluate Bidders of Mandhana Industries(25.06.2018)

Mumbai bench of National Company Law Tribunal (NCLT) has allowed Resolution Professional (RP) of Mandhana Industries (MIL) to exclude the time between.....

Tags : Insolvency, IBC



NCLT Approves GMSPL Plan for Orissa Manganese(25.06.2018)

National Company Law Tribunal (NCLT), Kolkata has approved the resolution plan of Ghanshyam Mishra & Sons (GMS) for revival of debt-ridden Orissa Mang.....

Tags : Insolvency, IBC



NCLT Kochi Allows Initiation of Insolvency Resolution Process Against Personal Guarantor(27.01.2022)

National Company Law Tribunal, Kochi has allowed initiation of Insolvency Resolution Process (IRP) against the Personal Guarantor, Mr. Shahdulla M.I. .....

Tags : National Company Law Tribunal, Insolvency Resolution Process Against Personal Guarantor



NCLT Kochi Allows Initiation of Insolvency Resolution Process Against Personal Guarantor(27.01.2022)

National Company Law Tribunal, Kochi has allowed initiation of Insolvency Resolution Process (IRP) against the Personal Guarantor, Mr. Shahdulla M.I. .....

Tags : National Company Law Tribunal, Insolvency Resolution Process Against Personal Guarantor



NCLT Kochi Allows Initiation of Insolvency Resolution Process Against Personal Guarantor(27.01.2022)

National Company Law Tribunal, Kochi has allowed initiation of Insolvency Resolution Process (IRP) against the Personal Guarantor, Mr. Shahdulla M.I. .....

Tags : National Company Law Tribunal, Insolvency Resolution Process Against Personal Guarantor



NCLAT Seeks Explanation for Rejection of Essar Steel Bids(03.07.2018)

National Company Law Appellate Tribunal (NCLAT) has sought an explanation from the insolvency resolution professional of Essar Steel Ltd for rejecting.....

Tags : Insolvency, IBC



NCLT Reserves Order on Srei Infra’s Plea Against Sterling Units(03.07.2018)

Mumbai bench of National Company Law Tribunal has reserved its order in an insolvency plea filed by Srei Infrastructure Finance Ltd against Sterling S.....

Tags : Insolvency, IBC



Insolvency and Bankruptcy Board of India Amends Norms, Notifies Procedures for Homebuyers(05.07.2018)

Insolvency and Bankruptcy Board of India has issued revised norms to initiate insolvency resolution process, paving way for homebuyers to seek relief .....

Tags : Insolvency, Homebuyers



IBBI Gives Timelines for Insolvency Process, Allows Withdrawal of Application(06.07.2018)

Insolvency and Bankruptcy Board of India (IBBI) has notified norms to allow homebuyers to get relief as financial creditors, permitted withdrawal of i.....

Tags : Insolvency, IBC



IBBI Exempts Lockdown Period from Time Line of Activity in Relation to Liquidation Process(20.04.2020)

Insolvency and Bankruptcy Board of India has stated that the period of lockdown imposed by the Central Government shall not be counted for the purpose.....

Tags : Insolvency and Bankruptcy Board of India, Time Line of Liquidation Process



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



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



NCLAT, Delhi: Arrears of Salary Accumulated for More Than Three Years Are Not Eligible for CIRP(13.05.2022)

National Company Law Appellate Tribunal, New Delhi has ruled that arrears of salary due beyond a period of three years would be barred by limitation f.....

Tags : National Company Law Appellate Tribunal, three years, Corporate Insolvency Resolution Process, limitation



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



Hind Dorr-Oliver, HDO Tech to Be Liquidated: NCLT(09.07.2018)

Mumbai bench of National Company Law Tribunal (NCLT) has ordered liquidation of engineering, procurement and construction (EPC) company Hindustan Dorr.....

Tags : Insolvency, IBC



NCLAT Asks RP, CoC of Bhushan Power to Address Liberty House's Grievances(10.07.2018)

National Company Law Appellate Tribunal has directed resolution professional and Committee of Creditors (CoC) of Bhushan Power & Steel to address gri.....

Tags : Insolvency, IBC



IBBI Prohibits Empanelment of Insolvency Professional Entities with Market Participants(11.07.2018)

Insolvency and Bankruptcy Board of India (IBBI) has expressly prohibited the empanelment of Insolvency Professional Entities with market participants.

Tags : Insolvency, IBC



NCLAT Seeks Status Report on Jaypee Infratech Insolvency Resolution(16.07.2018)

National Company Law Appellate Tribunal (NCLAT) has asked the resolution professional (RP) for Jaypee Infratech to submit details on the progress of i.....

Tags : Insolvency, IBC



NCLT Cuttack: CIRP Can’t be Initiated Over Undecided Claims or Unstamped Agreements(26.04.2022)

National Company Law Tribunal, Cuttack has ruled that Corporate Insolvency Resolution Process cannot be initiated based on undecided claims and/or uns.....

Tags : National Company Law Tribunal, Corporate Insolvency Resolution Process, compulsory registration



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



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



NCLT Admits Union Bank of India’s Insolvency Plea Against Era Infra(09.05.2018)

National Company Law Tribunal (NCLT) principal bench has admitted Union Bank of India’s (UBI’s) plea seeking initiation of insolvency proceedings agai.....

Tags : NCLT, Insolvency



NCLT Admits Union Bank of India’s Insolvency Plea Against Era Infra(09.05.2018)

National Company Law Tribunal (NCLT) principal bench has admitted Union Bank of India’s (UBI’s) plea seeking initiation of insolvency proceedings agai.....

Tags : NCLT, Insolvency



Insolvency: Govt Notifies Norms for Maintenance of Accounts by IBBI(09.05.2018)

Central Government has framed Insolvency and Bankruptcy Board of India (Form of Annual Statement of Accounts) Rules, 2018 prescribing norms for mainte.....

Tags : Insolvency, IBBI



NCLT, Mumbai Orders to Restore E-way Bill Facility for Taxpayers Undergoing Insolvency Proceedings(26.02.2020)

National Company Law Tribunal (NCLT), Mumbai has ordered to restore the e-way bill facility for taxpayers undergoing insolvency proceedings.

Tags : National Company Law Tribunal, E-way Bill Facility for Taxpayers Undergoing Insolvency Proceedings



National Company Law Appellate Tribunal Sets Aside Flipkart’s Insolvency Proceedings(28.02.2020)

National Company Law Appellate Tribunal has set aside the order of the National Company Law Tribunal to initiate insolvency proceedings against Flipka.....

Tags : National Company Law Appellate Tribunal, Flipkart’s Insolvency Proceedings



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



NCLAT Chennai: Corporate IRP Can be Resume on Failure of Settlement Agreement(02.05.2022)

National Company Law Appellate Tribunal, Chennai has observed that Corporate Insolvency Resolution Process can be revive/resume in case of failure of .....

Tags : National Company Law Appellate Tribunal, Corporate Insolvency Resolution Process



NCLAT Upholds Dismissal of Petition Filed During Prohibited Period(24.05.2022)

National Company Law Appellate Tribunal while adjudicating an appeal has upheld that Corporate Insolvency Resolution Process cannot be initiated over .....

Tags : National Company Law Appellate Tribunal, Corporate Insolvency Resolution Process, Insolvency and Bankruptcy



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



RBI's Deadline For Bankrupt Companies: Supreme Court Stays Insolvency Proceedings Against Defaulters(12.09.2018)

SC has halted insolvency proceedings against defaulters in the power, sugar, shipping and textile sectors, providing relief to borrowers hours before .....

Tags : Supreme Court, Insolvency, RBI



NCLT Dismisses Wave's Insolvency Plea With Cost of One Crore(10.06.2022)

National Company Law Tribunal (NCLT) has dismissed the insolvency petition filed by Wave Megacity Centre Private Limited (Wave) under Section 10 of th.....

Tags : NCLT, Insolvency, WAVE



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



Delhi HC: Section 10 of CPC Does Not Lay an Embargo in Proceeding with Arbitration(11.04.2022)

Delhi High Court has held that Section 10 of the Code of Civil Procedure, 1908 does not lay an embargo in proceeding during the pendency of insolvency.....

Tags : Delhi High Court, Section 10 of the Code of Civil Procedure, 1908, embargo, insolvency proceedings, Provincial Insolvency Act, 1920



NCLT, Kolkata: IRP Cannot be Maintained Against Legal Heirs of Personal Guarantor(12.04.2022)

National Company Law Tribunal, Kolkata has held that insolvency resolution process cannot be maintained against the legal heirs of the personal guaran.....

Tags : National Company Law Tribunal, Insolvency Resolution Process, legal heirs, Personal Guarantor



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



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



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



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



IBBI Amends Insolvency Resolution Process for Corporate Persons Regulations, 2016(16.06.2022)

Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Per.....

Tags : IBBI, Insolvency Resolution Process for Corporate Persons, Amendment



IBBI Amends its Regulations on Information Utilities(20.06.2022)

Insolvency and Bankruptcy Board of India (IBBI) has introduced second round of amendments to the Insolvency and Bankruptcy Board of India (Information.....

Tags : Insolvency and Bankruptcy Board of India, Amendments



NCLT Initiates Insolvency Proceedings Against Nirmal Lifestyle (Kalyan) Pvt. Ltd.(22.06.2022)

National Company Law Tribunal (NCLT), Mumbai Bench has initiated Corporate Insolvency Resolution Process against Nirmal Lifestyle (Kalyan) Pvt. Ltd. a.....

Tags : NCLT, Corporate Insolvency Resolution Process



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



Insolvency can be Triggered Against Unincorporated Joint Ventures: NCLAT(03.12.2018)

NCLAT has held in a case related to AMB Infrabuild Pvt. Ltd. and Earth Galleria Pvt. Ltd. that insolvency can be triggered against an unincorporated j.....

Tags : NCLAT, Unincorporated Joint Ventures, Insolvency



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



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



Insolvency Proceedings can be Withdrawn After Invitation Of Resolution Plans Under Regulation 36A: SC(30.01.2019)

Supreme Court has permitted withdrawal of Corporate Insolvency Resolution Process(CIRP) even after Resolution Professional issued invitation for expre.....

Tags : Supreme Court, Insolvency Proceedings, Invitation Of Resolution Plans



NCLAT Quashes Insolvency Proceedings Against NCR Realty Firm Paramount Propbuild(29.12.2018)

National Company Law Appellate Tribunal (NCLAT) has set aside insolvency proceedings against Paramount Propbuild, noting that no notice was served to .....

Tags : NCLAT, Paramount Propbuild, Insolvency



Insolvency Cases Excluded from Statutory 270-Days Norm at Tribunals: Supreme Court(05.10.2018)

Supreme Court has said that time taken up by litigations during the corporate insolvency resolution process has to be excluded from the mandatory limi.....

Tags : Supreme Court, Insolvency



Operational Creditors should Get a Say and Vote in Insolvency Process: SC(14.12.2018)

Supreme Court has observed that Operational creditors of companies undergoing the corporate insolvency resolution process should have a say in the com.....

Tags : Supreme Court, Operational Creditors, Insolvency Process



IBBI Amends Regulations Related to Corporate Insolvency Proceedings(19.11.2020)

Insolvency and Bankruptcy Board of India (IBBI) amended Regulations relating to corporate insolvency proceedings which came to be known as the Insolve.....

Tags : Insolvency and Bankruptcy Board of India, Regulations Related to Corporate Insolvency Proceedings



No Need to Hear Out 3rd Party During Insolvency Admission, NCLAT Tells NCLT(21.01.2019)

National Company Law Appellate Tribunal (NCLAT) has said that the National Company Law Tribunal (NCLT) should not hear any third party, other than the.....

Tags : NCLAT, NCLT, Hear Out 3rd Party During Insolvency Admission



Kerala HC Stays Order on Prospective Application of Notification Raising Threshold for Insolvency(14.12.2020)

Kerala High Court has stayed the order of the National Company Law Tribunal (NCLT) Kochi which held that the notification raising the threshold limit .....

Tags : Kerala High Court, Notification Raising Threshold for Insolvency



NCLAT: Resolution Professional Has No Right To Be Heard Before Being Replaced U/S 27 IBC(12.09.2022)

National Company Law Appellate Tribunal has held that when Committee of Creditors decides to replace Resolution Professional (RP) under Insolvency & B.....

Tags : NCLAT, Insolvency, Resolution Professional



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



INSOLVENCY - Essar Steel Insolvency: NCLT Rejects RIL's Plea Opposing Arcelor Bid(27.02.2019)

National Company Law Tribunal (NCLT), Ahmedabad has rejected Mukesh Ambani-led Reliance Industries Limited (RIL)'s plea opposing ArcelorMittal's Rs. 4.....

Tags : NCLT, Essar Steel Insolvency



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



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



Insolvency Proceedings can be Closed on Basis of Settlement Prior to Formation of CoC: NCLAT(15.02.2019)

National Company Law Appellate Tribunal has asked the Kolkata Bench of National Company Law Tribunal to close an insolvency proceeding by accepting th.....

Tags : NCLAT, Insolvency Proceedings



INSOLVENCY - I-T Department, Other Tax Agencies can Initiate Insolvency: NCLAT(22.03.2019)

National Company Law Appellate Tribunal (NCLAT) has held that Income Tax department of central government and other local authorities “who are entitle.....

Tags : NCLAT, Income Tax Department, Insolvency



INSOLVENCY - I-T Department, Other Tax Agencies can Initiate Insolvency: NCLAT(22.03.2019)

National Company Law Appellate Tribunal (NCLAT) has held that Income Tax department of central government and other local authorities “who are entitle.....

Tags : NCLAT, Income Tax Department, Insolvency



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



Delhi HC: Invoking CIRP Would Not Make Dispute Non-Arbitrable(19.12.2022)

Delhi High Court has held that dispute would not become non-arbitrable merely because the petitioner, before filing the application for appointment of.....

Tags : Delhi High Court, Arbitration, Insolvency, Non-Arbitrable



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



SC: Insolvency Resolution of Company Doesn’t Extinguish Director's Liability U/S 138 NI Act(17.03.2023)

Supreme Court has held that the company's director cannot seek discharge from Negotiable Instruments Act proceedings on the ground that creditor’s deb.....

Tags : Supreme Court, Insolvency, Negotiable Instruments, Director's Liability



Centre Promulgates IBC Amendment Ordinance to Allow Pre-Packaged Insolvency Process for MSMEs(05.04.2021)

Central Government has promulgated Insolvency and Bankruptcy Code(Amendment) Ordinance 2021 to allow pre-packaged insolvency resolution process for co.....

Tags : Central Government, Pre-Packaged Insolvency Process for MSMEs



ITAT: IBC Has Overriding Effect on All Acts Including Income Tax Act(20.02.2023)

Income Tax Appellate Tribunal (ITAT), Delhi Bench has held that Insolvency and Bankruptcy Code (IBC) has an overriding effect on all acts, including t.....

Tags : Income Tax Appellate Tribunal, Income-Tax, Insolvency



SC Upholds Provisions Allowing Lenders to Pursue Insolvency Proceedings Against Promoter Guarantors(21.05.2021)

Supreme Court has upheld provisions of the Insolvency and Bankruptcy Code, 2016 (IBC) allowing lenders to pursue insolvency proceedings against promot.....

Tags : Supreme Court, Insolvency Proceedings Against Promoter Guarantors



IBBI Notifies Inspection And Investigation Regulations(19.06.2017)

Insolvency and Bankruptcy Board of India has notified Insolvency and Bankruptcy Board of India (Inspection and Investigation) Regulations, 2017 which .....

Tags : Inspection And Investigation Regulations, Insolvency and Bankruptcy Board of India



Insolvency And Bankruptcy Board Notifies Fast Track Insolvency Resolution Process(19.06.2017)

IBBI has notified IBBI (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017 which provide process from initiation of ins.....

Tags : Insolvency and Bankruptcy Board of India, Fast Track, Insolvency Resolution Process



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



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



Gujarat HC Denies Relief to Essar Steel Against RBI’s Order to Initiate Insolvency Proceedings(18.07.2017)

Gujarat High Court has dismissed Essar Steel’s Petition against Reserve Bank of India’s directive to Banks for initiating insolvency proceedings again.....

Tags : Gujarat High Court, Insolvency Proceedings



NCLT: Promoters Cannot Escape Liquidation of Personal Assets(19.07.2017)

National Company Law Tribunal has held that personal properties of Promoters given as security to Banks can be proceeded against, in spite of initiati.....

Tags : National Company Law Tribunal, insolvency proceedings



Supreme Court Allows Recording Consent Terms After Case is Admitted Under Insolvency Code(26.07.2017)

Supreme Court has exercised powers under Article 142 of Constitution to record consent terms between the parties post admission of the application und.....

Tags : Supreme Court, Insolvency Code



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



Supreme Court Uses Special Powers, Allows Company to Withdraw from NCLT(28.07.2017)

Supreme Court has used special powers to allow a company to withdraw from insolvency proceedings after both parties, the borrower and the creditor, ar.....

Tags : Supreme Court, Insolvency Code



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



IBBI Clarifies Disciplinary Committee May Impose Monetary Penalty(30.07.2021)

Insolvency and Bankruptcy Board of India (IBBI) has issued a circular wherein it was clarified that the Disciplinary Committee of an Insolvency Profes.....

Tags : Insolvency and Bankruptcy Board of India, Disciplinary Committee, Monetary Penalty



NCLAT Upholds NCLT’s Order Allowing Insolvency Proceedings Against ‘Go First’ Airline(23.05.2023)

NCLAT while rejecting the plea filed by lessors of aircrafts of Go First Airlines to take possession of the aircrafts, has upheld the order of NCLT De.....

Tags : NCLAT, Go First, Insolvency



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



NCLT Approves Vedanta's Resolution Plan for Insolvent Electrosteel(18.04.2018)

National Company Law Tribunal's (NCLT) has approved Vedanta Ltd's resolution plan for the insolvent Electrosteel Steels Ltd.

Tags : NCLT, Insolvency



Insolvency Proceedings: New form Allows Homebuyers to Seek Claims From Firms(21.08.2017)

Government has introduced a new form under insolvency law to enable a person who has to receive a payment from an insolvent company to seek the claim......

Tags : Insolvency Proceedings



No Need for Shareholder Nod for Insolvency Resolution Plan: Govt(26.10.2017)

Government has said insolvency resolution plans, such as sale and transfer of assets, do not require approval from shareholders or the company as the .....

Tags : Insolvency Proceedings



Supreme Court: Arbitration Initiated After Imposition Of Moratorium Under IBC is Non Est in Law(03.11.2017)

Supreme Court has held that arbitration proceedings instituted after the imposition of moratorium under Section 14 of the Insolvency and Bankruptcy Co.....

Tags : Supreme Court, Insolvency, Arbitration



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



Bombay High Court Directs to Sell 6 Ships of Insolvent Varun Resources(31.03.2018)

Bombay High Court has directed the sale of six ships operated by Varun Resources, India’s largest operator of liquefied petroleum gas (LPG) carriers, .....

Tags : Bombay High Court, Insolvency



IBBI Amends Registration Norms for Insolvency Professionals(31.03.2018)

Insolvency and Bankruptcy Board of India has amended the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2018 to fix a time fr.....

Tags : Insolvency



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



Madras HC: Acceptance of Corporate Insolvency Resolution Not a Ground to Quash Case u/s 138 NI Act(23.01.2020)

Madras High Court has held that acceptance of the Corporate Insolvency Resolution Plan under Section 31 of the Insolvency and Bankruptcy Code, 2016 ca.....

Tags : Madras High Court, Corporate Insolvency Resolution



Bankruptcy, Insolvency Related Work To be Done By Department of Economic Affairs(07.01.2016)

The work relating to bankruptcy and insolvency has been taken out from the domain of Law Ministry and put under Department of Economic Affairs, a step.....

Tags : bankruptcy and insolvency , Department of Economic Affairs, Law Ministry



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



Rajya Sabha Passes Insolvency and Bankruptcy Code Amendment Bill(03.01.2018)

Rajya Sabha has passed the Insolvency and Bankruptcy Code (Amendment) Bill, 2017, which bars unscrupulous persons from misusing the provisions of the .....

Tags : Rajya Sabha, Insolvency, Bankruptcy



Kerala High Court: 'Criminal Accusation' No Grounds of Disqualification For Official Receivers(04.12.2017)

Kerala High Court, while dealing with a challenge made to the appointment of Part Time Official Receivers under the Insolvency Act, 1955, has held tha.....

Tags : Kerala High Court, Insolvency Act, 1955



RBI Withdraws CDR, SDR, S4A, JLF Schemes to Restructure Bad Loans(13.02.2018)

Reserve Bank of India has scrapped Corporate Debt Restructuring, Sustainable Structuring of Stressed Assets, Strategic Debt Restructuring, & Flexible .....

Tags : Reserve Bank of India, Insolvency



RBI Withdraws CDR, SDR, S4A, JLF Schemes to Restructure Bad Loans(13.02.2018)

Reserve Bank of India has scrapped Corporate Debt Restructuring, Sustainable Structuring of Stressed Assets, Strategic Debt Restructuring, & Flexible .....

Tags : Reserve Bank of India, Insolvency



Insolvency and Bankruptcy Board of India Disqualifies Parties Barred from Liquidation Process(08.01.2020)

Insolvency and Bankruptcy Board of India has issued a notification whereby promoters or related parties disqualified from taking part in the insolvenc.....

Tags : Insolvency and Bankruptcy Board of India, Liquidation



NCLT, Hyderabad Initiates Corporate Insolvency Resolution Process Against Tata Projects Ltd(06.01.2022)

National Company Law Tribunal, Hyderabad has initiated Corporate Insolvency Resolution Process against Tata Projects Limited for its failure to pay ba.....

Tags : National Company Law Tribunal, Corporate Insolvency Resolution Process, Tata Projects Ltd



NCLAT Chennai Bench Stays Insolvency Process Against Tata Projects Limited(07.01.2022)

National Company Law Appellate Tribunal, Chennai Bench has stayed the order against Tata Projects Limited to initiate Corporate Insolvency Resolution .....

Tags : NCLAT, Corporate Insolvency Resolution Process, Stay Order



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



President Gives Node to IBC Amendment Act(22.01.2018)

President of India has given nod to amendments to the Insolvency and Bankruptcy Code that aims to keep defaulting promoters out of the resolution proc.....

Tags : President of India, Insolvency



NCLT: ROC Cannot Strike Off Company when Insolvency Process is Pending(20.11.2019)

National Company Law Tribunal, Ahmedabad has ruled that Registrar of Companies cannot strike off the name of a company during Corporate Interim Resolu.....

Tags : NCLT, Insolvency



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, 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



Bombay High Court Dismisses Reliance Navy Plea Against IFCI(08.12.2017)

Bombay High Court has scuttled a last ditch attempt by the Anil Ambani company Reliance Naval and Engineering to prevent proceedings in the bankruptcy.....

Tags : Bombay High Court , Insolvency



ITAT Delhi: Section 36(1)(vii) Applicable in Inability or Insolvency Cases(05.12.2019)

Income Tax Appellate Tribunal, Delhi has held that an Assessee is entitled to claim under Section 36(1)(vii) of the Income Tax Act where the money is.....

Tags : ITAT Delhi, Insolvency



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



Insolvency and Bankruptcy Board of India (IBBI): Unclaimed Dividend to Go to IBBI Account(17.01.2020)

Insolvency and Bankruptcy Board of India has notified an amendment to the Voluntary Liquidation Process Regulation, 2017, whereby all unclaimed divide.....

Tags : Insolvency and Bankruptcy Board of India, Amendment in Voluntary Liquidation Process Regulation, 2017



Del. HC: Insolvency Professional Doesn’t Fall within Meaning of “Public Servant” under the PC Act(20.12.2023)

Delhi High Court has held that Insolvency Professional does not fall within the meaning of “public servant” as prescribed in any of the clauses of sub.....

Tags : Delhi High Court, Insolvency Professional, Prevention of Corruption Act, Public Servant



SC: Can’t Apply Statutory Set Off or Insolvency Set Off to CIRP Proceedings Under IBC(05.01.2024)

Supreme Court has held that statutory or insolvency set off will not apply to Corporate Insolvency Resolution Process (CIRP) proceedings under IBC and.....

Tags : Supreme Court, Insolvency Set Off, Statutory Set Off



Bombay HC Issues Notice on Plea for Restoration of Assault FIR Over Breach of Consent Terms(27.01.2022)

Bombay High Court has issued notice to actor Armaan Kohli on his ex-girlfriend's application to restore the case she filed against him in 2018 while a.....

Tags : National Company Law Tribunal, Insolvency Resolution Process Against Personal Guarantor



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



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



Binani Cement Case: NCLAT Directs Dalmia Bharat to Reply to UltraTech(08.08.2018)

National Company Law Appellate Tribunal (NCLAT) has directed Rajputana Properties Pvt. Ltd to file a rejoinder to the queries raised by UltraTech Ceme.....

Tags : NCLT, Insolvency



Suspended Director of Corporate Debtor Not Entitled to Confidential Info Held by CoC/ RP: NCLT(08.08.2018)

Mumbai bench of National Company Law Tribunal (NCLT) has held that suspended director of a corporate debtor is not entitled to confidential informatio.....

Tags : NCLT, Insolvency



Supreme Court: Application for Initiating CIRP Filed by Advocate of Financial Creditor Maintainable(09.08.2018)

Supreme Court has observed that an application filed for initiating Corporate Insolvency Resolution Process by an advocate would be maintainable under.....

Tags : Supreme Court, Insolvency



IBC Will Override Provisions of Other Enactments Inconsistent With It : Supreme Court(16.08.2018)

Supreme Court has observed that Insolvency and Bankruptcy Code (IBC) will override anything inconsistent contained in any other enactment, including t.....

Tags : Supreme Court, Insolvency, Bankruptcy



President Gives Assent to Insolvency Second Amendment Law(20.08.2018)

President Ram Nath Kovind has given his assent to Insolvency and Bankruptcy Code (Second Amendment) Act 2018 which replaces the June 6 insolvency ordi.....

Tags : Insolvency, IBC, Amendment



NCLAT Stays Liquidation Process of Jyoti Structures(21.08.2018)

National Company Law Appellate Tribunal (NCLAT) has granted interim stay on the liquation order against Jyoti Structures Ltd.

Tags : NCLAT, Insolvency



Supreme Court Says 'No' to Insolvency During Pendency of Proceedings Challenging Arbitral Award(21.08.2018)

Supreme Court has held that an insolvency process cannot be put into operation when there is a pending proceeding challenging the arbitral award.

Tags : Supreme Court, Insolvency, Arbitration



Finance Ministry Raises Threshold for Triggering Insolvency(24.03.2020)

Finance Ministry has announced special relief packages for companies under the Companies Act, 2013 and the Insolvency and Bankruptcy Code, 2016 by rai.....

Tags : Finance Ministry, Threshold for Insolvency



NCLT Dismisses Liquidation on Failure by RP to Call for Bids(17.05.2018)

NCLT (Ahmedabad Bench) has rejected an application to liquidate a company under the moratorium on failure by the Resolution Professional (RP) and Comm.....

Tags : NCLT, Insolvency



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



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



Income Tax Dept Can’t Recover Dues During Liquidation Process under IBC: Hyderabad HC(01.08.2018)

Hyderabad High Court has held that an order of attachment of the subject property by the Income Tax department cannot affect the completion of the sal.....

Tags : Hyderabad High Court, Tax, Insolvency



NCLT Approves Resolution Plan for Amit Spinning Industries(01.08.2018)

National Company Law Tribunal (NCLT) has approved the resolution plan as submitted by Deepak Chaganlal Choudhari and Jitendra Kumar Chopra for Amit Sp.....

Tags : NCLT, Insolvency



Financial Creditor Can’t be Denied Rights If Equity Conversion Not Approved: NCLAT(01.08.2018)

National Company Law Appellate Tribunal (NCLAT) has held that the lender cannot be excluded from the CoC if the conversion of loan into equity is not .....

Tags : NCLAT, Insolvency



Lok Sabha Passes Insolvency and Bankruptcy Code Amendment Bill(01.08.2018)

Lok Sabha has passed the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018 that recognises homebuyers as financial creditors to real estate.....

Tags : Lok Sabha, Insolvency



NCLT Admits Insolvency Petition Against Provogue(03.08.2018)

Mumbai bench of National Company Law Tribunal has admitted Provogue (India) Ltd for insolvency resolution, making it the fourth company from the texti.....

Tags : NCLT, Insolvency



NCLT: Homebuyer Who Subrogated All Rights in Favour of Bank Cannot Be Treated As Creditor Under IBC(06.08.2018)

Allahabad bench of National Company Law Tribunal has held that a homebuyer who subrogated all his rights in favour of the bank at the time of taking l.....

Tags : NCLT, Insolvency



Hyderabad High Court Stays Insolvency Proceedings Against Anrak Aluminium(13.03.2018)

Hyderabad High Court has stayed proceedings against Anrak Aluminium at the National Company Law Board on an insolvency petition filed by State Bank of.....

Tags : Hyderabad High Court, Insolvency



National Company Law Appellate Tribunal Orders Reverse Real Estate Insolvency Process(12.02.2020)

National Company Law Appellate Tribunal has passed an order for a reverse insolvency process, which could set a template for stressed real estate proj.....

Tags : National Company Law Appellate Tribunal, Reverse Real Estate Insolvency Process



NCLAT Decides to Close Umang Realtech Insolvency Resolution Process(19.02.2020)

National Company Law Appellate Tribunal has decided to close the corporate insolvency resolution process against Umang Realtech if the company manages.....

Tags : National Company Law Appellate Tribunal, Umang Realtech Insolvency Resolution Process



NCLT Approves Liberty House's Plan for Acquiring Adhunik Metaliks(18.07.2018)

Kolkata bench of National Company Law Tribunal (NCLT) has approved the resolution plan of Britain-based Liberty House for acquiring debt-laden steelma.....

Tags : NCLT, Insolvency



NCLT Approves Aion-JSW Steel Plan for Monnet Ispat(20.07.2018)

National Company Law Tribunal (NCLT) has given its approval for Monnet Ispat’s acquisition by the Aion Capital-JSW Steel consortium.

Tags : NCLT, Insolvency



NCLT Approves JK Paper's Rs 371 cr Bid for Sirpur Paper Mills(23.07.2018)

NCLT has approved JK Paper's Rs 371 crore bid for debt-ridden Sirpur Paper Mills under the insolvency resolution process.

Tags : NCLT, Insolvency



Give Bhushan Resolution Plan Details: NCLAT to Tata Steel(24.07.2018)

National Company Law Appellate Tribunal (NCLAT )has asked Tata Steel to furnish a detailed plan as to how it proposes to distribute the amount earmark.....

Tags : NCLAT, Insolvency



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



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



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