draft cir.....Tags : draft circular, fpi, unlisted debt
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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
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Disclosure Requirements for Issuance and Listing of Green Debt Securities(30.05.2017)
Disclosure Requirements for Issuance and Listing of Green Debt Securities
1. SEBI (Issue and Listing of Debt Securities) Regulations.....
Tags : Securities, Green debt, Requirement
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NCLAT: Can’t Bar Petition u/s 7 of IBC for Default Committed Prior to S.10A Period(13.12.2024)
NCLAT New Delhi bench has held that a petition under section 7 of Insolvency and Bankruptcy Code, 2016 cannot be barred for any default which has been.....
Tags : NCLAT New Delhi, Corporate Debtor, IBC
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Govt. Amends FEMA to Enable the Increase in FDI Limit in Insurance Sector(24.08.2021)
Government has notified the amendment in the Foreign Exchange Management (non-debt instruments) Rules, 2019 (FEMA) to enable the increase in foreign d.....
Tags : Government, Foreign Exchange Management (non-debt instruments) Rules, 2019
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NCLAT: Cannot Treat Claims Arising u/s 11E of Central Excise Act as Secured Debt(27.01.2025)
NCLAT New Delhi Bench has held that claims that arise under Section 11E of the Central Excise Act, 1944 cannot be treated as a secured debt.
Tags : NCLAT New Delhi, Secured Debt, Section 11E
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NCLAT: Project Management Committee Constituted under Agreement Doesn’t Absolve CD from Obligations(12.02.2025)
NCLAT New Delhi bench has held that if a Project Management Committee comprising members of financial creditors and corporate debtor has been constitu.....
Tags : NCLAT New Delhi, Project Management Committee, Corporate Debtor
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NCLT: No Establishment of Creditor-Debtor Relation from Arrangement Involving Joint Profit-Sharing(12.02.2025)
National Company Law Tribunal Delhi bench has held that if the business arrangement between the parties involves joint participation and profit-sharin.....
Tags : NCLT, Joint Profit Sharing, Creditor Debtor Relation
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Debt Recovery Tribunal asks Vikram Bakshi, McDonald's India to Deposit Settlement Funds(20.05.2019)
Debt Recovery Tribunal, Delhi has asked Connaught Plaza Restaurants’ Managing Director Vikram Bakshi and McDonald’s India to appear before it and depo.....
Tags : Debt Recovery Tribunal, McDonalds
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NCLAT: Resolution Plan of Corporate Debtor to be Proceeded Strictly(10.03.2025)
NCLAT New Delhi bench while dismissing an appeal filed by the suspended directors of the Supertech Township Projects Ltd, has stated that resolution p.....
Tags : NCLAT New Delhi, Resolution Plan, Corporate Debtor
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NCLAT: If No Lease Deed is Shown by 3rd Party, Machinery Hypothecated by CD Remains Its Asset(18.02.2025)
NCLAT New Delhi bench has held that if no lease deed is shown under which third party is claiming to be the owner of the machinery hypothecated by Cor.....
Tags : NCLAT New Delhi, Corporate Debtor, Lease Deed
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NCLAT: Existence of Financial Debt Essential for Initiating Proceedings under Section 7 of IBC(11.03.2025)
NCLAT New Delhi bench while dismissing a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, has stated that for initiating pr.....
Tags : NCLAT New Delhi, Financial Debt, Section 7
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Delhi HC: Executing Court Can't Go Behind Decree & Give Relief to Judgment Debtor(02.05.2022)
Delhi High Court has reiterated that the executing Court can’t go behind the decree that is to be implemented and give relief to the judgment debtor t.....
Tags : Delhi High Court, Executing Court, Judgment debtor
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NCLAT: OC Can Trigger CIRP Process Only When there is an Undisputed Debt(17.03.2025)
NCLAT New Delhi bench has held that Operational Creditor (OC) can trigger CIRP Process only when there is existence of an undisputed debt and default .....
Tags : NCLAT New Delhi, Operational Creditor, Undisputed Debt
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Govt. Fixes Debt to Capital, Free Reserve Ratio for Govt. Companies(25.03.2016)
Ministry of Corporate Affairs has notified the debt to capital and free reserves ratio for government companies that are into housing finance.
Tags : Ministry of Corporate Affairs, Debt to Capital, Free Reserve Ratio
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Supreme Court Explains: Debt Becoming Financial & Operational Debt(27.04.2024)
SC has explained that where a party owes debt to another and when creditor is claiming under written agreement/arrangement providing for rendering ser.....
Tags : Supreme Court, Operational Debt, Financial Debt
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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
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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
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Secured Creditor can File Winding Up Petition After Obtaining Recovery Certificate from DRT: SC(30.01.2019)
Supreme Court has held that a secured creditor can file a winding up petition after obtaining a decree from the Debts Recovery Tribunal (DRT) and a re.....
Tags : Supreme Court, Debt Recovery Tribunal
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Bombay High Court Pulls Up Ministry for Failure to Provide Infra For Debt Recovery Tribunals(14.02.2020)
Bombay High Court has come down heavily upon the central Government for failing to provide adequate infrastructure and manpower to the Debt Recovery T.....
Tags : Bombay High Court, Infrastructure for Debt Recovery Tribunals
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Delhi HC Refuses to Entertain PIL on Recovery of Debt Owed by Pakistan Since Partition(22.03.2022)
Delhi High Court has refused to entertain a public interest litigation seeking recovery of Rs 1 trillion debt owed by Pakistan to India since the time.....
Tags : Delhi High Court, Recovery of Debt Owed by Pakistan
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NCLAT Dismisses Appeal by a Contractor against DLF(06.05.2025)
NCLAT New Delhi bench has dismissed an appeal filed by a contractor against DLF u/s 61 of IBC, 2016 claiming a debt and stated that multiple exchanges.....
Tags : NCLAT New Delhi, Corporate Debtor, Operational Creditor
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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
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NCLAT: Under IBC there is No Provision Mandating RP to Share Valuation Report(09.05.2025)
NCLAT New Delhi bench has held that under the Insolvency and Bankruptcy Code, 2016 there is no provision that makes it mandatory for the Resolution Pr.....
Tags : NCLAT New Delhi, Corporate Debtor, Resolution Professional
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CBDT endeavours to reduce litigation over bad debt(30.05.2016)
The Central Board of Direct Taxes bolstered Departmental policies to reduce litigation arising from assessees writing off sums as ‘bad debt’.
.....
Tags : income tax, bad debt, irrecoverable, reducing litigation
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Review of norms regarding investment in debt instruments with special features and the valuation of perpetual bonds(10.03.2021)
A. Review of Norms of Investment in Instruments having Special Features
1. Mutual Funds invest in certain debt instruments with special featu.....
Tags : Review, Norms, Investment, Debt instruments
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NCLT Delhi: Can’t Adjust Payment Made for Specific Invoice Against Back Dated Invoices(13.05.2025)
NCLT New Delhi bench has held that if a Corporate Debtor makes a payment against a specific invoice raised by the Operational Creditor then such payme.....
Tags : NCLT New Delhi, Corporate Debtor, Operational Creditor
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Madras HC: No Deduction Can be Claimed if Bad Debt Not Written Off(10.12.2020)
Madras High Court has held that the deduction cannot be claimed on the bad debt which was not written off as required by law as per the provisions of .....
Tags : Madras High Court, Writing Off of Bad Debts
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Allahabad High Court Disallows Parallel Proceedings in NCLT and DRT(12.09.2017)
Allahabad High Court has barred parallel proceedings in National Company Law Tribunal (NCLT) and the Debt Recovery Tribunal (DRT) in a case between St.....
Tags : Allahabad High Court, National Company Law Tribunal, Debt Recovery Tribunal
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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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NCLT: No Sale of Assets Below 25% Reserve Price Cut Under Liquidation Regulations(13.08.2025)
NCLT Bengaluru has held that corporate debtor assets can't be sold below a 25% cut in reserve price. It observed that permitting such sales breaches I.....
Tags : NCLT Bengaluru, IBC, Liquidation Regulations, Reserve Price, Corporate Debtor, Section 60(5)
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NCLAT: Can’t Treat Share Application Money Deposited With Corporate Debtor as Financial Debt(28.11.2024)
NCLAT New Delhi bench has held that share application money which has been deposited with the corporate debtor cannot be treated as financial debt und.....
Tags : NCLAT, Share Application Money, Corporate Debt
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NCLAT: Fresh Limitation Period Commences from Date when CD Signs Balance Sheet(27.03.2025)
NCLAT New Delhi bench has held that for the purpose of filing an application under section 7 of the Insolvency and Bankruptcy Code, 2016 fresh period .....
Tags : NCLAT New Delhi, Fresh Limitation Period, Corporate Debtor
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Standardisation of procedure to be followed by Debenture Trustee(s) in case of 'Default' by Issuers of listed debt securities(13.10.2020)
1. Representations were made by Debenture Trustee(s) regarding the process to be followed in case of 'Default' by issuers of listed debt securities. A.....
Tags : Standardisation, Procedure, Debt securities
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Electronic book mechanism for issuance of debt securities on private placement basis(21.04.2016)
The Securities and Exchange Board of India lay a framework for issuance of debt securities on private placement basis through electronic book mechanis.....
Tags : electronic book, debt securities, private placement
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NCLT: Successful Bidder of Corporate Debtor Not Exempt from Statutory Compliances(03.09.2025)
NCLT has ruled that a successful bidder of a corporate debtor cannot seek exemptions from statutory compliances merely on the ground of having won the.....
Tags : NCLT, Corporate Debtor, Bidder
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Supreme Court: S. 21A of Banking Regulation Act Not Applicable to Agricultural Debts(19.02.2018)
Supreme Court has held that S. 21A of Banking Regulation Act, 1949 which prohibits courts from re-opening any transaction between a bank and its debto.....
Tags : Supreme Court, Agricultural Debts
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NCLAT: In Absence of Debt & Default, Application Under Section 7 of IBC Can’t be Admitted(29.11.2024)
NCLAT Delhi bench has held that in absence of any debt and consequent default on the part of the corporate debtor, application under section 7 of the .....
Tags : NCLAT Delhi, Debt & Default, Section 7
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NCLAT: In absence of privity of contract, application u/s 9 of IBC not maintainable(28.03.2025)
The National Company Law Appellate Tribunal (NCLAT) has observed that where there is no privity of contract or any sort of Debtor-Creditor relationshi.....
Tags : Privity of contract, Maintainability of application, Debtor-Creditor relationship, the Insolvency and Bankruptcy Code, 2016
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NCLAT: Consideration of Debt Restructuring by Lenders Doesn’t Bar Member from Initiating Proceedings(19.05.2025)
NCLAT New Delhi bench has held that an individual member is not precluded from independently initiating insolvency proceedings under Section 7 of the .....
Tags : NCLAT New Delhi, Section 7, Consortium Lenders, Corporate Debtor
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Bengaluru DRT Orders Banks to Start Recovering Loan From Vijay Mallya in Kingfisher Case(20.01.2017)
Debt Recovery Tribunal has ordered SBI-led consortium of banks to start process of recovering over Rs 6,203 crore, at 11.5 per cent annual interest ra.....
Tags : Debt Recovery Tribunal, Vijay Mallya, Kingfisher Case, Loan
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NCLT Amravati: Adjudicating Authority Can't Decide Corporate Debtor’s MSME Interest Liability(10.09.2025)
NCLT Amravati bench ruled that the Adjudicating Authority is not the proper forum to decide a Corporate Debtor’s liability to pay interest under the M.....
Tags : NCLT, Corporate Debtor, MSME
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SC Doubts Kerala HC Ruling: Cheque Dishonour Not for Illegal Debts Under S.138 NI Act(25.08.2025)
Supreme Court prima facie held that cheque dishonour cases under Section 138 of NI Act, 1881 can’t be based on debts from illegal or unenforceable pro.....
Tags : Supreme Court, Section 138, Cheque Dishonour, Illegal Debt
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NCLAT: Amount Belonging to Corpo. Debtor Can be Recovered by Liquidator by Filing Application u/s 60(02.12.2024)
NCLAT New Delhi bench has held that amount belonging to the Corporate Debtor can be recovered by Liquidator by filing an application under Section 60(.....
Tags : NCLAT New Delhi, Corporate Debtor, Liquidator
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NCLT: Can’t Call Speculative Investment a 'Financial Debt' in Absence of Commercial Effect of Borrowi(07.04.2025)
NCLT New Delhi bench while dismissing an application under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016 has held that a speculative inv.....
Tags : NCLT New Delhi, Financial Debt, Commercial Effect
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Delhi HC Seeks Response on Plea Challenging Provisions of Recovery of Debts and Bankruptcy Act, 1993(13.09.2021)
Delhi High Court has sought response of the Centre on a plea challenging provisions of Recovery of Debts and Bankruptcy Act, 1993 regarding appointmen.....
Tags : Delhi High Court, Provisions of Recovery of Debts and Bankruptcy Act, 1993
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NCLAT: When No Objections Raised by Stakeholders Adj. Authority Not Justified in Rejecting Plan(23.05.2025)
NCLAT New Delhi bench has held that the Adjudicating Authority cannot reject the Resolution Plan under section 31 of the Insolvency and Bankruptcy Cod.....
Tags : NCLAT New Delhi, Adjudicating Authority, Corporate Debtor
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SC: MSME Suppliers Can Pursue Time Barred Debts through Conciliation Proceedings but Not Arbitration(18.07.2025)
Supreme Court has held that MSME supplier's right to recover the principal amount and interest thereon subsists even after the expiry of the limitatio.....
Tags : Supreme Court, Time Barred Debts, Conciliation Proceedings
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Raj. HC: No Jurisdiction on DRT to Modify Settlement Terms in Appli. Filed after Disposal of Matter(02.09.2025)
Rajasthan High Court has held that no jurisdiction has been conferred upon the Debts Recovery Tribunal to modify terms and conditions of a Settlement .....
Tags : Rajasthan High Court, Settlement Terms, Debts Recovery Tribunal
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NCLAT: IRP Has Authority to Take Possession of Assets Owned by Corporate Debtor(20.05.2025)
NCLAT New Delhi bench has held that Interim Resolution Professional (IRP) has the authority to take possession of assets owned by the Corporate Debtor.....
Tags : NCLAT New Delhi, Corporate Debtor, Possession of Assets
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Supreme Court: If Centre Wants DRT to Furnish Data it Must Provide Additional Staff(20.01.2025)
Supreme Court has held that if Centre wants Debt Recovery Tribunals (DRT) to furnish data in a particular case then it must provide additional staff t.....
Tags : Supreme Court, Debt Recovery Tribunals, Additional Staff
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NCLAT: Even if No Reply is Given to Demand Notice, CD Not Barred from Contesting App. u/s 9(18.02.2025)
NCLAT New Delhi bench has held that Corporate Debtor cannot be barred from contesting the application filed under section 9 of IBC even if no reply wa.....
Tags : NCLAT New Delhi, Corporate Debtor, Operational Creditor
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SC: Any Dispossessed Person Other Than Judgement Debtor Can Complain to Court of Such Dispossession(16.10.2024)
SC has stated that where any person other than judgment debtor is dispossessed of immovable property by decree holder for possession of such property,.....
Tags : Supreme Court, Judgement Debtor, Immovable Property
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SC: Mere Act of Invoking Pledged Shares Does Not Discharge Debt(17.05.2022)
Supreme Court has ruled that a creditor's mere invocation of a pledge does not imply that the debt is discharged. The Apex Court ruled that “A debt is.....
Tags : Supreme Court, pledge, debt
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Bombay HC Upholds Centre’s Move to Shift DRT From Mumbai to Vashi(03.01.2017)
Bombay High Court has upheld Centre’s decision to shift one of the Debt Recovery Tribunals (DRT) from Mumbai to a new site at Vashi, stating it did no.....
Tags : Bombay High Court, Debt Recovery Tribunals
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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
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Karnataka HC Summons Vijay Mallya to Appear on 24 November(21.10.2016)
Karnataka High Court has summoned Vijay Mallya to appear before it on 24 November for allegedly violating an “oral undertaking” given before Bengaluru.....
Tags : Karnataka High Court, Vijay Mallya, Debt Recovery Tribunal
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Relaxation from default recognition due to restructuring of debt(31.08.2020)
1. CRAs recognize default based on the guidance issued vide SEBI circulars dated May 3, 2010 and November 1, 2016. Further, SEBI vide circular dated M.....
Tags : Relaxation, Default recognition, Restructuring of debt
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NCLAT: Assets Reflecting in Corporate Debtor’s Balance Sheet form Part of Liquidation Estate(07.04.2025)
NCLAT New Delhi bench has held that assets reflecting in the Corporate Debtor’s balance sheet form part of the liquidation estate under Section 36 of .....
Tags : NCLAT New Delhi, Corporate Debtor, Balance Sheet
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NCLAT: Cannot Withhold Income Tax Refund Received by Bank During CIRP In CD's Account(11.07.2025)
NCLAT New Delhi bench has held that during the Corporate Insolvency Resolution Process, Income Tax Refund received by the bank in the corporate debtor.....
Tags : NCLAT New Delhi, Income Tax Refund, Corporate Debtor
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NCLAT: Suspended Management of CD is Prohibited from Deploying the Funds of Corporate Debtor(03.06.2025)
NCLAT New Delhi bench has held that the Corporate Debtor’s suspended management is strictly prohibited from deploying the funds of the Corporate Debto.....
Tags : NCLAT New Delhi, Corporate Debtor, Interim Resolution Professional
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SC: Debts Recovery Tribunal Has No Power to Condone Delay in Filing Review Application(27.01.2020)
Supreme Court has held that the Debts Recovery Tribunal has no power to condone the delay in filing application for review under the Recovery of Debts.....
Tags : Supreme Court, Debt Recovery Tribunal's Power to Condone Delay, Review Application
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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
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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
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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
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NCLT: Financial Debt Constitutes Disbursal Against Time Value of Money(14.04.2025)
NCLT Kolkata bench while allowing an application filed under Section 7 of the IBC, has observed that financial debt exists where money is disbursed ag.....
Tags : NCLT Kolkata, Section 7, Financial Debt
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SC: Acknowledging Partial Debt Would Not Extend Limitation Period for Entire Debt(28.07.2025)
Supreme Court has observed that under Section 18 of the Limitation Act, 1963, acknowledgment of partial debt would not extend the limitation period fo.....
Tags : Supreme Court, Section 18, Partial Debt
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Ker HC: Debt Created by Cash Above Rs.20,000 in Violation of IT Act Isn’t “Legally Enforceable Debt”(28.07.2025)
Kerala High Court has observed that debt created by a cash transaction above Rs.20,000/- in violation of the provisions of Income-Tax Act, 1961 is not.....
Tags : Kerala High Court, Cash Transaction, Legally Enforceable Debt
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Calcutta HC: Order U/S 36 of A&C Act is Interim Order, Can be Modified on Basis of Financial Hardship(10.05.2022)
Calcutta High Court has held that financial hardship and financial indebtedness are sufficient grounds to modify an order passed under Section 36 of t.....
Tags : Calcutta High Court, Arbitration and Conciliation Act, 1996, Section 36, financial hardship, financial indebtedness
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NCLT: Salary During Notice Period Does Not Fall Within the Definition of 'Operational Debt' Under IBC(26.05.2022)
National Company Law Tribunal, Mumbai Bench has held that salary for purported notice period amounts to specific performance of the appointment letter.....
Tags : National Company Law Tribunal, Operational Debt, Operational Creditor
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DRT has no jurisdiction to hear un-appointed debenture trustee(07.03.2016)
In a claim for recovery made by a debenture trustee of debentures of a company on behalf of or for the benefit of the debenture holders, the Debt Reco.....
Tags : Debenture trustee, tribunal, debt recovery
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SC: Plea of Lack of Jurisdiction Can’t be Invoke at Execution Stage by Judgment Debtor(25.10.2023)
Supreme Court while observing that a plaintiff shall not be made to suffer by the passive act of the defendant in submitting to the jurisdiction, has .....
Tags : Supreme Court, Judgment Debtor, Jurisdiction
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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
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NCLAT, New Delhi: Interest Alone Cannot Be Construed as Operational Debt(13.02.2020)
National Company Law Appellate Tribunal (NCLAT), New Delhi has held that claim amount towards Interest on loan alone, cannot be termed as an ‘Operatio.....
Tags : National Company Law Appellate Tribunal, Operational Debt
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Reduction in denomination of debt securities and non-convertible redeemable preference shares(03.07.2024)
1. Chapter V (Denomination of issuance and trading of Non-convertible Securities) of the Master Circular no. SEBI/HO/DDHS/PoD1/P/CIR/2024/54 dated May.....
Tags : Reduction, Denomination, Debt securities
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Bom. HC: Writing Off Bad Debt Can’t be Considered as Asset u/s 153A(1) of IT Act(07.09.2023)
Bombay High Court has held that writing-off of a bad debt cannot fall within the ambit of “income, represented in the form of an asset” under Section .....
Tags : Bombay High Court, Bad Debt, Asset, Income-Tax Act
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