8 July 2024

Search Results for Tag : Corporate Debt

Notifications & Circulars

Central Government approves Guarantee Scheme for Corporate Debt (GSCD)(26.07.2023)

The Central Government has approved the 'Guarantee Scheme for Corporate Debt' (GSCD) for the purpose of providing guarantee cover against debt raised/.....

Tags : Guarantee Scheme, Corporate Debt, Approval


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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



If the delay in possession is due to Force Majeure, it cannot be claimed that the Corporate Debtor defaulted in delivering the possession.(22.01.2020)

The Respondents, in the present case, had booked an apartment in a residential project. The Corporate debtor had issued a joint allotment letter and e.....

Tags : Corporate Debtor, Possession


Proceedings under the SARFAESI Act cannot be continued against corporate debtor, once the CIRP is initiated and the moratorium is ordered(18.05.2022)

Present appeal challenges the judgment passed by the National Company Law Appellate Tribunal, Principal Bench, New Delhi ( “the NCLAT”), thereby dismi.....

Tags : Sale, Assets, Corporate Debtor



NCLT, Kolkata: Corporate Debtor Cannot Be Sent Into Liquidation(08.04.2022)

National Company Law Tribunal, Kolkata has observed that just because the liquidation value is being projected higher than the value of the resolutio.....

Tags : National Company Law Tribunal, liquidation value, resolution plan, Corporate Debtor, liquidation


NCLAT: Claims of Homebuyers Reflected in Corporate Debtor Records Must be Shown in Information Memo(03.06.2022)

National Company Law Appellate Tribunal (NCLAT) Principal bench has held that the claims of those homebuyers who could not file their claims within st.....

Tags : NCLAT, Homebuyers, Corporate Debtor


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


SC: Proceedings Against Corporate Debtor Would End Once Resolution Plan is Approved(01.02.2021)

Supreme Court has clarified that proceedings against a corporate debtor over money-laundering charges would end once a resolution plan is approved, bu.....

Tags : Supreme Court, Proceedings Against Corporate Debtor


NCLT Can't Decide Inter-Se Claims by Parties Over Assets of Corporate Debtor: NCLAT(05.02.2019)

National Company Law Appellate Tribunal has held that inter-se claims by parties over assets of the corporate debtor cannot be determined by the Adjud.....

Tags : NCLAT, Inter-Se Claims by Parties Over Assets of Corporate Debtor


INSOLVENCY - 51% COC Vote Enough for Forensic Audit of Corporate Debtor: NCLT(08.03.2019)

National Company Law Tribunal (NCLT) has clarified that 51 per cent vote of the Committee of Creditors (CoC) is enough to initiate a forensic audit of.....

Tags : NCLT, Forensic Audit, Corporate Debtor


SC: Corporate Debtor Only Offering Security by Pledging Shares Not a Financial Creditor(04.02.2021)

Supreme Court has held that if a corporate debtor has only offered security by pledging shares, without undertaking to discharge the borrower's liabil.....

Tags : Supreme Court, Corporate Debtor


Corporate Debtor can Withdraw Application Filed Under IBC on Making OTS Offer to Creditor : NCLT(28.01.2019)

NCLT has allowed the a corporate debtor to withdraw petition for its insolvency, though with costs, besides allowing ex-director of corporate debtor t.....

Tags : NCLT, Corporate Debtor can Withdraw Application Filed Under IBC


NCLAT: COC's Decision For Liquidation Is Open To Judicial Review By NCLT And NCLAT(19.10.2022)

National Company Law Appellate Tribunal, Delhi has ruled that when the Committee of Creditors (CoC) decides to liquidate the Corporate Debtor, the dec.....

Tags : National Company Law Appellate Tribunal, Committee of Creditors, Corporate Debtor, liquidation


All HC: Guarantor’s Liability Doesn’t Absolve by Itself Upon Approval of Resolution Plan(16.01.2023)

Allahabad High Court has held that approval of a resolution plan under Section 31 of the IBC, does not ipso facto absolve the surety/guarantor of the .....

Tags : Allahabad High Court, Corporate Debtor, Guarantor’s Liability, Resolution Plan


SC: RP Can Take Control of Corporate Debtor's Rights in Assets Licensed to Third Parties(16.03.2023)

Supreme Court has held that Resolution Professional (RP) is entitled to take control of the rights of a corporate debtor in assets which are licensed .....

Tags : Supreme Court, Corporate Debtor, Resolution Professional


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


RBI Tightens Provisions for Yet to Fail CDR Accounts(12.01.2016)

Reserve Bank of India (RBI) has asked lenders to increase provisioning for accounts that may not have yet failed Corporate Debt Restructuring (CDR) bu.....

Tags : Reserve Bank of India, Corporate Debt Restructuring


SC: Moratorium Does Not Apply to Proceedings in Respect of Directors/Management of Corporate Debtor(17.09.2021)

Supreme Court has observed that the moratorium ordered under Section 14 of the Insolvency and Bankruptcy Code, 2016 does not apply in respect of the d.....

Tags : Supreme Court, Proceedings in Respect of Directors/Management of Corporate Debtor


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: Person Having Security Interest Over Property of Corporate Debtor Not 'Financial Creditor'(27.02.2020)

Supreme Court has upheld the order of National Company Law Tribunal which cancelled the mortgages made by Jaypee Infratech Ltd to secure the debts of .....

Tags : Supreme Court, Mortgage by Corporate Debtor to Secure Debts