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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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 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
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
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
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 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
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: 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
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
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
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: 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
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
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
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
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
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 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
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
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
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
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
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
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 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
NCLT: Insolvency Plea by BCCI against Byju’s Admitted(16.07.2024)
National Company Law Tribunal (NCLT) has admitted an insolvency plea filed by BCCI against ed-tech firm Byju’s over default on debt due to BCCI with r.....
Tags : NCLT, Insolvency, Byju’s, BCCI
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
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
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
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
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
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
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
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: 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
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
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
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 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
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
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 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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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 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
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
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
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
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
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
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
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
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
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, 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
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
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
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
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: 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
SC: Creditor Can Initiate CIRP Against CD Even After Completion of Same Against Corporate Guarantor(25.07.2024)
Supreme Court has held that a corporate guarantor’s insolvency resolution will not bar the creditor from initiating insolvency process for balance deb.....
Tags : Supreme Court, Insolvency Resolution, Corporate Guarantor
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