15 April 2024

Search Results for Tag : Resolution

International Cases

Court has a discretion to approve a scheme under Section 411(4)(b) of the Corporations Act and is not bound to approve a scheme just because the statutory majorities have been achieved(10.06.2022)

The Plaintiff applies for orders approving a proposed scheme of arrangement. The Scheme meeting was convened and held on 1 June 2022. At the meeting, .....

Tags : Resolution, Scheme, Approval

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

Central Board of Direct Taxes amends the Income-tax Rules, 1962 for faster resolution of disputes in terms of tax treaties(06.05.2020)

The Central Board of Direct Taxes amends the Income-tax Rules, 1962 aiming to speed-up dispute resolution and settle cases of multinational corporatio.....

Tags : Rules, Amendment, Dispute resolution

Notifications & Circulars

Cabinet approves proposal to introduce the Financial Resolution and Deposit Insurance Bill 2017(14.06.2017)

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the proposal to introduce a Financial Resolution and Deposit Insurance.....

Tags : Approval, Bill, Financial Resolution, Deposit Insurance

Clarification on passing of ordinary and special resolutions by companies under the Companies Act, 2013 read with rules made thereunder on account of Covid-19-Extension of time(15.06.2020)

This Ministry has issued General Circular No. 14/2020 on 8th April, 2020 and General Circular No. 17/2020 on 13th April, 2020 for providing clarificat.....

Tags : Clarification, Resolutions, Covid-19-Extension of time

Date for seeking comments from stakeholders and public on the Draft Financial Resolution and Deposit Insurance (FRDI) Bill extended till 31st October, 2016(20.10.2016)

The Government of India had invited stakeholder/public comments on the Draft Financial Resolution and Deposit Insurance(FRDI) Bill, 2016 from 28.9.201.....

Tags : Financial Resolution, Deposit Insurance, Comments, Invitation

Guidelines for early Resolution of Stuck Public Private Partnership projects at Major Ports(11.05.2022)

Background

In the past decade, Government of India invited private investment into Major Port Sector and several projects were awarded under .....

Tags : Guidelines, Early Resolution, Partnership projects

Monetary Policy Statement, 2022-2023 Resolution of the Monetary Policy Committee (MPC) May 2 and 4, 2022(04.05.2022)

On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting today (May 4, 20.....

Tags : Monetary Policy Statement, Resolution, MPC

'Grievance Resolution between listed entities and proxy advisers' - Extension of timeline for implementation(27.08.2020)

1. SEBI had issued 'Procedural Guidelines for Proxy Advisors' vide Circular No. SEBI/HO/IMD/DF1/CIR/P/2020/147 dated August 03, 2020. Further, SEBI ha.....

Tags : Grievance Resolution, listed entities, Extension, Timeline

Approval for a resolution in the First Assembly of ISA for amendment of the Framework Agreement(01.11.2018)

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given ex-post facto approval for moving a Resolution in the first Assembly of the I.....

Tags : Resolution, Approval, Framework Agreement, Amendment

First Bi-monthly Monetary Policy Statement, 2017-18 Resolution of the Monetary Policy Committee (MPC) Reserve Bank of India(06.04.2017)

On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to.....

Tags : Statement, Bi-monthly report, Resolution

Resolution Framework 2.0 - Resolution of Covid-19 related stress of Micro, Small and Medium Enterprises(05.05.2021)

1. Please refer to the circular DOR.No.BP.BC/4/21.04.048/2020-21 dated August 6, 2020 on restructuring of advances to the MSME borrowers.

2......

Tags : Resolution Framework, Covid-19, MSME

Technical Committee Report on Large Scale Integration of Renewable Energy(18.04.2016)

The Ministry of New and Renewable Energy released a report on ‘Large Scale Integration of Renewable Energy, Need for Balancing, Deviation Settlement M.....

Tags : renewable energy, integration, dispute resolution

Indirect Tax Dispute Resolution Scheme Rules, 2016(31.05.2016)

The Ministry of Finance introduced Rules to give effect to Section 18 of the Finance Act 2016.

The Rules provide declarations and manner of.....

Tags : indirect tax, dispute resolution, finance act, 2016

Direct Tax Dispute Resolution and Equalisation Levy effective 1 June 2016(31.05.2016)

The Direct Tax Dispute Resolution Scheme 2016 under Chapter X of the Finance Act 2016 came into effect on 1 June 2016. Declarations in respect of tax .....

Tags : direct tax, dispute resolution, equalisation levy, finance act, 2016

Scheme for Sustainable Structuring of Stressed Assets(13.06.2016)

The Reserve Bank of India formulated a scheme for resolution of large stressed accounts. The Scheme for Sustainable Structuring of Stressed Assets, or.....

Tags : rbi, stressed asset, resolution, sustainable, scheme

Judgments

Employee sent on deputation to a foreign service is to be paid higher pay scale then what the employees were getting in parent department(05.02.2019)

The Appellant Corporation has preferred the present Appeals against judgment passed by the High Court by which the Division Bench has allowed the said.....

Tags : Resolution, Payscale, Parity

Once a resolution plan is duly approved by Adjudicating Authority under Section 31 of IBC, the claims shall stand frozen and will be binding on Corporate Debtor and its employees(12.05.2021)

Present Appeal emanates from the Order, passed by the National Company Law Tribunal, whereby the Adjudicating Authority/NCLT approved the Resolution P.....

Tags : Resolution Plan, Approval, Legality

Adjudicating Authority would not have power to modify the Resolution Plan which the CoC in their commercial wisdom have approved(21.06.2021)

Present is an Application filed by the Resolution Professional under Section 30(6) of the Insolvency and Bankruptcy Code, 2016 (IBC), seeking approval.....

Tags : Resolution plan, Approval, Power

NCLT/NCLAT has no residual equity jurisdiction while dealing with Resolution Plan approved by Committee of Creditors(10.08.2021)

Present appeal arises under Section 62 of the Insolvency and Bankruptcy Code, 2016 against a judgment of the National Company Law Appellate Tribunal. .....

Tags : Resolution Plan, CoC, Jurisdiction

Resolution process has to be completed within the period stipulated under Section 12 of IBC(01.12.2021)

The Committee of Creditors of Amtek Auto Limited through Corporation Bank (‘COC’) has preferred the present appeal feeling aggrieved and dissatisfied .....

Tags : Resolution Process, Time period

Commercial wisdom of the CoC expressed after due deliberation has to be given weight(21.12.2021)

Present Appeal has been filed by an Unsuccessful Resolution Applicant challenging the order of the Adjudicating Authority by which the Adjudicating Au.....

Tags : Resolution plan, Approval, Legality

Decision of the CoC’s ‘commercial wisdom’ is non¬ justifiable, except on limited grounds(17.12.2021)

Present appeals assail the judgment and order passed by the National Company Law Appellate Tribunal, New Delhi (“the NCLAT”), thereby allowing the app.....

Tags : Resolution Plan, Process, Commercial wisdom

Once the resolution plan is finalized then all the claims get extinguished(28.02.2023)

Case set up by the Appellant is that, he had purchased an immovable property from Narendra Solves Pvt. Ltd. vide sale deed dated 18th February, 2015 a.....

Tags : Resolution plan, Approval, Claim

In order to qualify the debt to be a 'financial debt', it is necessary that the amount advanced to the Corporate Debtor is against the time value of money(22.03.2023)

The instant Appeal under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC) has been preferred by the Appellant being aggrieved and dissatis.....

Tags : Resolution Process, Initiation, Financial Debt

Mere allocation of meagre amount cannot be a ground to question the resolution plan(03.04.2023)

The Appellant s is an Unsecured Financial Creditor who has vote share in the CoC of 0.264%. The plan has been approved by the CoC with more than 99% v.....

Tags : Resolution plan, Approval, Legality

Shareholders are excluded from 'representation', 'participation' or 'voting in the CoC' and are represented in the CoC only through the Directors(13.06.2023)

The Present Appeals are filed under Section 61 of the 'Insolvency and Bankruptcy Code, 2016' (IBC), against the Impugned Orders passed by the 'Adjudic.....

Tags : Resolution plan, Approval, Legality

Successful resolution applicant cannot be faced with undecided claims after the resolution plan has been accepted(11.09.2023)

An agreement was entered into on 2nd August, 2006 between the Appellant and KST Infrastructure Private Limited ('the Corporate Debtor'), for developme.....

Tags : Resolution plan, Approval, Award

Once CoC has approved the resolution plan by requisite majority which is in consonance with applicable provisions, same cannot be a subject matter of judicial review(20.10.2023)

The present appeal filed under Section 61 of Insolvency and Bankruptcy Code, 2016 ("IBC") by the Appellants arises out of the Order passed by the Adju.....

Tags : Resolution plan, Majority, Review

An order of dismissal of writ petition on merits would ensue, if no case of breach of a statutory provision is made out(16.06.2017)

In facts of present case, Petitioner has been working as Assistant Accountant of Suri Friend's Union Co-operative Bank Limited, a registered cooperati.....

Tags : Resolution, Termination, Validity

Right to choose and appoint an employee cannot be taken away merely because Government Resolution prescribes a maximum age limit of 33 years(27.09.2019)

The Petitioner - St. Isabel's High School, invokes the jurisdiction of present Court under Article 226 of the Constitution of India to challenge the i.....

Tags : Resolution, Maximum age, Legality

NCLT or NCLAT are not empowered under IBC, 2016 to reverse commercial decision of CoC(05.02.2019)

Appeals was against impugned order of NCLAT and High Court dismissing appeal filed by Appellant observing that, requirement of approval of resolution .....

Tags : Rejection, Resolution plan, Legality

Operational Creditor cannot claim parity with Financial Creditors(30.01.2024)

Present Appeal has been filed against the order passed by the Adjudicating Authority (National Company Law Tribunal) by which order the Adjudicating A.....

Tags : Resolution plan, Approval, Legality

News

Bombay HC: No Statutory Authority Can Raise Fresh Claim After Resolution Plan Approved(24.01.2022)

Bombay High Court has ruled that no statutory authority, including the Income Tax authorities, can raise a fresh claim against a Corporate Debtor afte.....

Tags : Bombay High Court, Fresh Claim After Resolution Plan Approved

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: 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

NCLAT, Chennai: Suspended Board of Directors Do Not Have Powers to Appoint Resolution Professional(02.03.2022)

National Company Law Appellate Tribunal, Chennai has held that the suspended Board of Directors has no power under the Insolvency and Bankruptcy Code,.....

Tags : National Company Law Appellate Tribunal, Powers to Appoint Resolution Professional

Direct Tax Dispute Resolution Scheme, 2016 Can be Availed Up to 31st December, 2016(16.09.2016)

Direct Tax Dispute Resolution Scheme, 2016, which came into force from 1st June, 2016, can be availed up to 31st December, 2016.

Tags : Direct Tax Dispute Resolution Scheme, 2016

NCLAT Bars Appointment of Retired Bank Official as Resolution Professional(25.05.2020)

National Companies Law Appellate Tribunal has upheld a bankruptcy tribunal order prohibiting appointment of a former employee of financial creditor as.....

Tags : National Companies Law Appellate Tribunal, Resolution Professional

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

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

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

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

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

NCLAT: Resolution Professional Cannot Withhold Any Plan and Refuse to Submit Before CoC(12.04.2022)

National Company Law Appellate Tribunal, has observed that Resolution Professional of its own cannot withhold any plan and reject to submit the same b.....

Tags : National Company Law Appellate Tribunal, Resolution Professional, Committee of Creditors

Chhattisgarh HC: If Agreement Stipulates for Reference to DRC, Claimant Must Exhaust that Remedy(18.04.2022)

Chhattisgarh High Court has held that an application under Section 11 of Arbitration and Conciliation Act, 1996 is not maintainable if the Petitioner .....

Tags : Chhattisgarh High Court. Application, Dispute Resolution Committee, Agreement

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, Delhi: Fresh Resolution Plan Cannot be Considered by Committee of Creditors(25.04.2022)

National Company Law Appellate Tribunal (NCLAT), Delhi has held that a fresh resolution plan cannot be considered by a Committee of Creditors (COC) on.....

Tags : National Company Law Appellate Tribunal, Fresh Resolution Plan

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

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

NCLT: Committee of Creditors Are Competent to Revise Approved Fees of Resolution Professional(09.05.2022)

National Company Law Appellate Tribunal has ruled that the Committee of Creditors is fully competent to revise its earlier approval of the fees of the.....

Tags : National Company Law Appellate Tribunal, Committee of Creditors, Resolution Professional

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

NCLT: Transaction Cannot be Held as Fraudulent Without Proper Enquiry into Allegations(06.06.2022)

National Company Law Tribunal (NCLT), Kolkata Bench has held that a transaction cannot be alleged to be preferential, fraudulent or avoidable by the R.....

Tags : NCLT, IBC, Resolution Professional

Gujarat HC: Party Can’t Avoid Dispute Resolution Process After Agreeing on the Same(13.06.2022)

Gujarat High Court has held that a party cannot circumvent the dispute resolution process after agreeing on the same.

Tags : Gujarat High Court, Dispute Resolution

RBI Eases Stressed Asset Resolution Norms(11.11.2016)

Reserve Bank of India (RBI) has eased rules for various stressed asset resolution schemes and expanded scope of a loan recast plan previously limited .....

Tags : Reserve Bank of India , infrastructure sector, Stressed Asset Resolution

SC Stays Madras HC Order Restraining AIADMK General Council from Passing Resolutions(06.07.2022)

Supreme Court has stayed the Madras High Court division bench's order staying the passing of resolutions in AIADMK General Council Meeting.

Tags : Supreme Court, AIADMK, Passing Resolutions

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

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

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

Delhi HC Seeks Response on Plea Against Rules Allowing NBFCs Resolution Under IBC(04.02.2021)

Delhi High Court has sought responses of the Centre, the Reserve Bank of India and Dewan Housing Finance Corporation Ltd (DHFL) on a writ petition cha.....

Tags : Delhi High Court, NBFC Resolutions Under IBC

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

NCLT Directs Police Assistance to Resolution Professional After Corporate Debtor Hinders CIRP(30.01.2019)

National Company Law Tribunal has directed Police Commissioner, Ahmedabad to provide police assistance to a resolution professional who complained abo.....

Tags : NCLT, Police Assistance to Resolution Professional

Delhi HC: Limitation Period for Arbitration Dispute Commences After Pre-Arbitration Mechanism fails(17.10.2022)

Delhi High Court has ruled that the period of limitation for referring the dispute to arbitration would only commence after the internal dispute resol.....

Tags : Delhi High Court, limitation, arbitration, dispute resolution

ICDR Amends Dispute Resolution Procedures Including Arbitration and Mediation Rules(02.03.2021)

International Centre for Dispute Resolution (ICDR) has amended its Dispute Resolution Procedures, including the Arbitration and Mediation Rules. The r.....

Tags : International Centre for Dispute Resolution, Amendment to Dispute Resolution Procedures

SC Allows Disbursal of Rs 1 Crore to 15 Homebuyers on Pro Rata Basis(14.12.2022)

Supreme Court has in matter of compensation sought by homebuyers of Supertech Twin Towers, directed the disbursal of INR One crore that has been depos.....

Tags : Supreme Court, Interim Resolution Professional, Pro Rata Basis, Supertech Twin Towers

IBBI is Competent Body to Act Against Resolution Professionals: NCLAT(22.04.2019)

National Company Law Appellate Tribunal has said that Insolvency and Bankruptcy Board of India (IBBI) will be competent authority and not National Com.....

Tags : NCLAT, IBBI, resolution professional

IBBI is Competent Body to Act Against Resolution Professionals: NCLAT(22.04.2019)

National Company Law Appellate Tribunal has said that Insolvency and Bankruptcy Board of India (IBBI) will be competent authority and not National Com.....

Tags : NCLAT, IBBI, Resolution Professional

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

Bom. HC: Failure To Adjust Interest Paid Is Hyper-Technical, Should Not Affect Sabka Vishwas Scheme(25.01.2023)

Bombay High Court has ruled that failure to adjust interest paid by the National Centre for the Performing Arts (NCPA) was hyper- technical and should.....

Tags : Bombay High Court, National Centre for the Performing Arts, Sabka Vishwas (Legacy Dispute Resolution) Scheme

NCLAT, Delhi: After Adoption Of Swiss Challenge Method, RA Not Allowed To Submit Revised Plan(27.01.2023)

National Company Law Appellate Tribunal while adjudicating an appeal filed in Jindal Stainless Ltd. v Mr. Shailendra Ajmera & Anr., has observed that .....

Tags : National Company Law Appellate Tribunal, Resolution, adoption

Karnataka HC: State Bar Council Should Act Against Resolutions to Not Defend Accused(22.04.2021)

Karnataka High Court has observed that the State Bar Council should take swift action against Bar Associations which pass resolutions calling upon its.....

Tags : Karnataka High Court, Resolutions to Not Defend Accused

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: Service Rules Prevails Over Conflicting Government Resolutions in Service Jurisprudence(17.03.2023)

Supreme Court has observed that in Service jurisprudence, Services Rules which have a statutory effect will prevail and government resolutions can’t b.....

Tags : Supreme Court, Service Rules, Government Resolutions

SC: No Modifications are Permissible Once Resolution Plan is Approved(24.03.2023)

Supreme Court has held that once Resolution Plan (RP) stands approved, no modifications are permissible; it is either to be approved or disapproved, b.....

Tags : Supreme Court, Resolution Plan, Approved, Modification

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

Jhar. HC: Resolution Professional Under IBC Falls Within Ambit of 'Public Servant' Under POCA(07.04.2023)

Jharkhand High Court has held that Resolution Professional under Insolvency and Bankruptcy Code (IBC) will be considered a public servant under both s.....

Tags : Jharkhand High Court, Resolution Professional, Public Servant, IBC

NCLT Kochi Allows Promoter of Corporate Debtor MSME to File Resolution Plan in Individual Capacity(07.05.2021)

National Company Law Tribunal, Kochi has held that the promoter of an MSME can submit a Resolution Plan Application in his individual capacity, and th.....

Tags : National Company Law Tribunal, Filing of Resolution Plan

Allahabad HC: Resolution to Not Appear in Criminal Cases Involving Lawyers is Unconstitutional(27.07.2021)

Allahabad High Court has held that a resolution passed by the Bar Associations that none of its members will do pairvi in any criminal case against a .....

Tags : Allahabad High Court, Bar Association Resolution

SC: Admission of Claims After Acceptance of RP by CoC will Make CIRP an Endless Process(12.09.2023)

Supreme Court has held that if claims are admitted after resolution plan (RP) has been accepted by the Committee of Creditors (COC) under Insolvency a.....

Tags : Supreme Court, CIRP, Resolution Plan, Committee of Creditors, Claims

Del. HC: Claims Settled Under RP Becomes Non-Arbitrable(13.10.2023)

Delhi High Court has held that the IBC and resolution process doesn’t contemplate matters being left inchoate and exhorts one to accept the seal of fi.....

Tags : Delhi High Court, Resolution Plan, Non-Arbitrable

Income Declaration & Tax Dispute Resolution Schemes to Come into Force from Tomorrow(31.05.2016)

Central Board of Direct Taxes (CBDT) has said that the Income Declaration Scheme, 2016 and the Direct and Indirect Tax Dispute Resolution Schemes 2016.....

Tags : Central Board of Direct Taxes, Income Declaration Scheme, 2016, Tax Dispute Resolution Schemes

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

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

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

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

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

Tags : NCLAT, Corporate Insolvency Resolution Process, Stay Order

SC: Cannot Overlook Claim Submitted With Proof Only Because Its Submission is in Wrong Form(13.02.2024)

Supreme Court has observed that claim submitted by the Resolution Applicant under the Corporate Insolvency Resolution Process cannot be rejected or ov.....

Tags : Supreme Court, Resolution Applicant, CIRP

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

SC: Closer Examination of RP’s Feasibility if Plan Envisages Use of Asset Owned By Statutory Body(15.02.2024)

SC while observing that normally resolution plan’s feasibility is best decided by the commercial wisdom of Committee of Creditors, has held that when .....

Tags : Supreme Court, Resolution Plan, Committee of Creditors

NCLAT Asks Liberty House to Give Details on Adhunik, Zion Resolution Plan(08.01.2020)

National Company Law Appellate Tribunal has directed the Liberty House Group to file an affidavit outlining the implementation of its resolution plan .....

Tags : NCLAT, Resolution Plan

SC: Resolution Process Has to be Completed Within Period Stipulated u/s 12 IBC(02.12.2021)

Supreme Court observed that the entire resolution process has to be completed within the period stipulated under Section 12 of the Insolvency and Bank.....

Tags : Supreme Court, Resolution 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

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

Supreme Court: No IBC Provision that Resolution Plan Should Match Liquidation Value(28.01.2020)

Supreme Court has held that there is no requirement under the Insolvency and Bankruptcy Code (IBC), 2016 that the resolution plan should match the liq.....

Tags : Supreme Court, Resolution Plan Not to Match Liquidation Value

Karnataka HC Summons Office Bearers of Hubli Bar Association for Resolution Against Sedition Accused(27.02.2020)

Karnataka High Court has summoned the office bearers of the Hubli Bar Association in the hearing of a Petition filed against the resolution passed by .....

Tags : Karnataka High Court, Hubli Bar Association Resolution

Karnataka HC Directs Member of Hubbali Bar Association to Appear for Sedition-Accused Students(28.02.2020)

Karnataka High Court has observed that a member of Hubbali Bar Association should appear on behalf of three Kashmiri students charged with sedition fo.....

Tags : Karnataka High Court, Hubbali Bar Association Resolution

Karnataka HC: Courts Should Ensure That Legal Procedures Are Not Abused in Order to Reduce Burden(27.02.2024)

Karnataka High Court has held that Providing Fast Track Court and use of Alternate Dispute Resolution, is not sufficient to reduce burden of courts. C.....

Tags : Karnataka High Court, Fast Track Court, Alternate Dispute Resolution

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