IBC| CIRP proceedings can be initiated against two Corporate Debtors but same amount cannot be realised from both: Supreme Court
Supreme Court: The bench of Indira Banerjee* and JK Maheshwari, JJ has held that if there are two borrowers or if two
financial creditor
Supreme Court July 2022 Roundup| PMLA constitutional; Bail Act; Abu Salem’s scheduled release; Unmarried women’s right to abortion; and more
Top Stories Your cheat sheet to Supreme Court’s 545 pages long Money Laundering verdict The 3-judge bench of AM Khanwilkar, Dinesh Maheshwari
NCLAT Mumbai |Interest on Delayed Payments is a part of Operational Debt under S. 3(11) of IBC
National Company Appellate Tribunal, Mumbai: The Bench of Ashok Bhushan, J., Chairperson, M. Satyanarayana Murthy, Judicial Member, and Naresh Salecha, Technical member
NCLAT | Can the OTS proposal be an ‘acknowledgment of debt’ under S. 18 of the Limitation Act, 1963?
National Company Law Appellate Tribunal, Delhi: The Bench of Anant Bijay Singh, J., Judicial Member, and Shreesha Merla, Technical Member,
NCLT| Can a Financial Creditor initiate Insolvency Resolution Process against a Personal Guarantor?
National Company Law Tribunal, Hyderabad: The Bench of N. Venkata Ramakrishna Badarinath, Judicial Member, and Veera Brahma Rao Arekapud, Technical Member held
IBC – Section 7(5)(a) | NCLT “may” reject Financial Creditor’s CIRP application even in case of Corporate Debtor’s default in payment of debt
Supreme Court: The bench of Indira Banerjee* and JK Maheshwari, JJ has rejected the view of NCLT and NCLAT that once it
Should Resolution Professional include delayed claims of homebuyers under memorandum of information? NCLAT decides
National Company Appellate Tribunal, New Delhi: The Coram of Ashok Bhushan, J (Chairperson), Shreesha Merla (Technical member), and Naresh Salecha (Technical member)
Can post-dated cheque issued for repayment of principal amount be taken as unqualified admission of debt? NCLT Allahabad decides
National Company Law Tribunal, Allahabad (NCLT): The bench of Rajasekhar V.K., Judicial Member and Virendra Kumar Gupta, Technical Member decided that for
Whether a Decree or an Arbitral Award or a Settlement Deed can form the Basis of a Financial or Operational Debt under IB Code – Part II
by Akaant Kumar Mittal†
Cite as: 2022 SCC OnLine Blog Exp 9
Does Unsecured Loan with No Returns have the Effect of Time Value of Money and be Covered under the Commercial Borrowing under the IBC Code?
by Love Kumar Gupta† and Angad Sandhu††
NCLAT | On not finding flaws in the NCLT order, abstains from interfering- Petitioner not being authorised under S.7 IBC, lacks locus standi
National Company Law Appellate Tribunal (NCLAT)- The Coram of Justice Jarat Kumar Jain (Judicial Member), Ashok Kumar Mishra (Technical Member), and Alok
Whether S. 7 IBC petition is maintainable where financial creditor fails to enclose financial contract/documents along with the petition: NCLT examines
National Company Law Tribunal (NCLT): Coram of Judicial Member Ashok Kumar Borah and Technical Member Shyam Babu Gautam has admitted a petition
NCLAT | Intention of Legislature, deliberation of the Adjudicating Authority | Only permits Suspended Management of the CD to submit viable RP-Affirms
National Company Law Appellate Tribunal (NCLAT): The Coram of Justice Jarat Kumar Jain, Judicial Member and Ashok Kumar Mishra, Technical Member, dismissed
Not just the petitioning creditor but ‘any’ creditor can initiate transfer of winding up proceedings from a Company Court to NCLT; holds SC
Proceedings for winding up of a company are proceedings in rem to which the entire body of creditors is a party, hence, by a deeming fiction the petition by even a single creditor is treated as a joint petition.
Insolvency and Bankruptcy Board of India amends Regulations relating to corporate insolvency proceedings
The Insolvency and Bankruptcy Board of India (IBBI) notified the following Amendment Regulations, 2020: (a) the Insolvency and Bankruptcy Board of India
Whether an ex-employee of a financial creditor is eligible to be appointed as Resolution Professional? Read what SC says
Supreme Court: The 3-Judge Bench of Arun Mishra, B.R. Gavai and Krishna Murari, JJ., set aside the NCLAT’s Order with regard to
[SC ALERT] NCLAT’s decoder on appointment of a person as Resolution Professional: Will an ex-employee of Financial Creditor be eligible for appointment? Read on
SUPREME COURT ALERT This NCLAT Order has been set aside by the Supreme Court, the detailed report of which can be found
NCLAT | Tribunal rejects SBI’s appeal regarding its appointment of an ex-employee as ‘Interim Resolution Professional,’ cites conflict of interest
National Company Appellate Tribunal (NCLAT): Justice Bansi Lal Bhat (Judicial), V.P. Singh (Technical) and Shreesha Merla (Technical) held that an ex-employee of
Lending Banks of Jaypraksah Associates not ‘financial creditors’; SC directs return of mortgaged land to JIL
Supreme Court: The bench of AM Khanwilkar and Dinesh Maheshwari, JJ has restored the NCLT order wherein it was held that the
NCLAT | Dissenting financial creditor cannot be allowed to scramble CIRP process; only the collective decision of Committee of Creditors is enforceable by law
National Company Law Appellate Tribunal (NCLAT): A.I.S. Cheema, J. while deciding the present Company Appeal held that the dissenting Financial Creditor in