12 August 2019


Search Results for Tag : Insolvency

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

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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

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News

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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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First Time Dispute in Reply of Demand Notice Doesn't Constitute Pre Existing Dispute Under IBC: NCLAT(30.11.2018)

National Company Law Appellate Tribunal has held that a dispute raised for the first time in reply to demand notice or in response to Adjudicating Aut.....

Tags : NCLAT, Insolvency and Bankruptcy Code

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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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

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