IRP for Corporate Persons
Legislation UpdatesRules & Regulations

IBBI notifies Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2024.

delhi high court
Case BriefsHigh Courts

“The need for a code of conduct assumes greater importance in light of the fact that once a decision is taken by the CoC, the aggrieved party is deprived of the legal remedies, except to a limited extent.”

national company law appellate tribunal
Case BriefsTribunals/Commissions/Regulatory Bodies

The NCLAT held that the CoC had the jurisdiction to decide on liquidation as per Section 33(2) and its explanation, even before completing all steps for resolution.

Important Insolvency Law Judgments
Experts CornerVasanth Rajasekaran

by Vasanth Rajasekaran† and Harshvardhan Korada††
Cite as: 2024 SCC OnLine Blog Exp 1

national company law appellate tribunal
Case BriefsTribunals/Commissions/Regulatory Bodies

NCLAT held that CIRP be closed with respect to the Corporate Debtor since not a single ‘Claim' was received by the IRP even after the public announcement.

jbf petrochemicals ltd
Law Firms NewsNews

DSK Legal advised and assisted Mr. Sundaresh Bhat, appointed as Resolution Professional JBF Petrochemicals Limited (“JBF”) with respect to the corporate insolvency

avoidance actions under ibc
Experts CornerShardul Amarchand Mangaldas

by Anoop Rawat†, Saurav Panda†† and Amrit Mahal†††
Cite as: 2023 SCC OnLine Blog Exp 51

National Company Law Appellate Tribunal
Case BriefsTribunals/Commissions/Regulatory Bodies

“Any settlement after passing of the impugned order and after constitution of the CoC is only permissible when the same is approved with 90% vote share of CoC.”

educomp infrastructure
Law Firms NewsNews

Shardul Amarchand Mangaldas advised Axis Bank Limited (Lead Bank), State Bank of India, J.C. Flowers Asset Reconstruction Private Limited, Punjab National Bank,

Thanos’ Infinite Gauntlet Given an Endgame Treatment - Jurisdiction of the NCLT under Section 60(5) as interpreted by the Apex Court
Akaant MittalExperts Corner

by Akaant Kumar Mittal†
Cite as: 2023 SCC OnLine Blog Exp 23

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

National Company Law Appellate Tribunal observed that once the CoC has decided to vote on the resolution plans after closure of challenge process, the Adjudicating Authority cannot direct the CoC to consider any revised plan submitted thereafter.

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

NCLAT while deciding the appeal held that the CoC after approving the resolution plan cannot seek direction from Adjudicating Authority to consider the new resolution plan of a third party who was not a part of the CIRP as it would fall outside the timeline and defeat the very scope and objective of the Code.

Cases ReportedSCC Weekly

    Civil Procedure Code, 1908 — Or. 12 R. 6 — Grant of relief on the basis of admission — When

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

National Company Law Appellate Tribunal held that there is no provision in Insolvency Bankruptcy Code, 2016 for alteration or modification in the resolution plan by the Adjudicating Authority

Insolvency Proceedings
Experts CornerKhaitan & Co

by Kartikey Mahajan, Siddhant Sharma and Jatan Rodrigues

Cite as: 2022 SCC OnLine Blog Exp 87

NCLT
Case BriefsTribunals/Commissions/Regulatory Bodies

That various stakeholders are to be considered by the Resolution Professional under the relevant provisions of IBC andin accordance with law, and the same should be placed before the CoC for approval. Thus, the resolution plan was sent back for approval by the Committee of Creditors.

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

    National Company Law Appellate Tribunal, Delhi: In a batch of appeals filed challenging order dated 22-06-2021 passed by the National

Case BriefsSupreme Court

Supreme Court: The bench of Indira Banerjee* and AS Bopanna, JJ has reversed the NCLAT order wherein it was held that the

NCLAT
Case BriefsTribunals/Commissions/Regulatory Bodies

National Company Appellate Tribunal, New Delhi: The Coram of  Ashok Bhushan, J (Chairperson), Shreesha Merla (Technical member), and Naresh Salecha (Technical member)

Case BriefsTribunals/Commissions/Regulatory Bodies

National Company Law Appellate Tribunal (NCLAT): The Coram of Justice Jarat Kumar Jain, Judicial Member and Ashok Kumar Mishra, Technical Member, dismissed