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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

Case Briefs Supreme Court

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

Case Briefs Tribunals/Commissions/Regulatory Bodies

[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

Case Briefs Tribunals/Commissions/Regulatory Bodies

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

Case Briefs Supreme Court

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

Case Briefs Tribunals/Commissions/Regulatory Bodies

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

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | Claim to be a ‘financial creditor’ valid when amount disbursed has been made for consideration of time value of money in favour of borrower

National Company Law Appellate Tribunal (NCLAT): A Coram of Sudhansu Jyoti Mukhopadhaya, J. (Chairperson), A.I.S. Cheema, J. (Judicial Member) and Kanthi Narhari

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | “I&B Code provides specific time frame to complete the process and NCLT should take it seriously”

National Company Law Appellate Tribunal (NCLAT): The Bench of Justice S.J. Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial) directed the National

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | Nobody except Financial Creditor has right to claim hearing at stage of admission of application under Section 7 I&B Code

National Company Law Appellate Tribunal: The Bench of Justice S.J. Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial) disposed of an appeal

Case Briefs Tribunals/Commissions/Regulatory Bodies

Allottees of real estate project ‘financial creditors’ under amended Section 5(8)(f) of I&B Code; appeal against NCLT order allowed

National Company Law Appellate Tribunal (NCLAT): A two-member bench comprising of Justice S.J. Mukhopadhaya, Chairperson and Justice A.I.S. Cheema, Member (Judicial) allowed

Case Briefs Tribunals/Commissions/Regulatory Bodies

Application under Sections 7, 9 or 10 I&B Code not adversarial litigation; NCLT not required to record detailed decision thereunder: NCLAT

National Company Law Appellate Tribunal (NCLAT): A two-member bench comprising of Justice S.J. Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial)

Case Briefs Tribunals/Commissions/Regulatory Bodies

I&B Code overrides Companies Act; Insolvency Resolution Process cannot be defeated by taking resort to internal dispute: NCLAT

National Company Law Appellate Tribunal (NCLAT): A two-member bench comprising of Justice S.J. Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial)

Case Briefs Tribunals/Commissions/Regulatory Bodies

Directors of the ‘Corporate Debtor’ held to be ‘Financial Creditor’ against the same company in light of outstanding unsecured debt: NCLAT

National Company Law Appellate Tribunal (NCLAT): A two-member bench comprising of Justice S.J. Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial),

Case Briefs Tribunals/Commissions/Regulatory Bodies

Insolvency and Bankruptcy Code, 2016 prevails over SARFAESI Act, 2002: NCLAT

National Company Law Appellate Tribunal (NCLAT): A two-member bench comprising of Justice S.J. Mukhopadhaya, Chairperson and Justice Bansi Lal Bhat, Member (Judicial),

Case Briefs Tribunals/Commissions/Regulatory Bodies

A promoter has no right to challenge voting rights

National Company Law Appellate Tribunal: In a recent order passed by S.J. Mukhopadhaya, Chairperson and Bansi Lal Bhagat J., Member regarding the