Bank of India Archives

Case Briefs Tribunals/Commissions/Regulatory Bodies

‘Resolution plans comply with IBC and CIRP Regulations’; NCLT approves Adani Properties acquisition of two HDIL assets

Reiterating that the commercial wisdom of the CoC is to be given paramount importance for approval/rejection of the Resolution Plan, the NCLT held that the Resolution Plans in the present case met the requirements of the IBC and the IBBI Regulations, and thus, had to be approved.

Case Briefs Supreme Court

Explained | Supreme Court decision on scope & ambit of Section 11 of the SARFAESI Act

“There is no need for an explicit written arbitration agreement to attract Section 11 of the SARFAESI Act. The provision creates a legal fiction as regards the existence of an arbitration agreement”

Case Briefs High Courts

Delhi High Court grants stay on Bank of India’s fraud classification based on Resolution Plan of Reliance Commercial Finance Limited

The petitioner submitted that since Resolution Plan under the Reserve Bank of India’s Prudential Framework for Resolution of Stressed Assets, 2019 have already been implemented, therefore, the Bank of India ought not to have proceeded against the petitioner.

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | Notice issued to Financial Creditor for failing to reach settlement despite accepting settlement amount; filing of S. 7 IBC application with malicious intent to be considered

National Company Law Appellate Tribunal (NCLAT): The Coram comprising of Justice S.J. Mukhopadhaya, Chairperson and Alok Srivastava, Member (Technical), while deciding an