Call for Blogs | Restructuring and Insolvency Law Journal (RILJ Blog) of NUALS [Rolling Submissions]
About NUALS The National University of Advanced Legal Studies is a uni-disciplinary university in Kochi, Kerala, India for undergraduate, graduate
IBC
Delhi High Court | PMLA seeks to subserve a larger public policy imperative; Moratorium under S.14 IBC does not affect ED’s attachment power under PMLA
An order of attachment when made under the PMLA does not result in the corporate debtor or the Resolution Professional facing a fait accompli.
[Top 15 Rulings from Tribunals and Commissions] GST; MakeMyTrip, Goibibo, OYO and Google penalized by CCI; Violation of Code of Ethics & Broadcasting Standards by News18; Bombay Dyeing and Wadia Group penalized by SEBI etc.
Authority for Advance Ruling (AAR) Gujarat Authority for Advance Ruling| ‘Combined Wire Rope’ not a part of the fishing vessel, thus, not
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
Supreme Court September 2022| Abortion Rights to all ‘women’; Marital Rape; Pre-sentence hearing of death row convicts; Sidhique Kappan’s bail; Collegium Recommendation; and more
This roundup revisits the analyses of Supreme Court’s judgments/orders on Unmarried persons’ right to safe abortion, Inclusion of ‘marital rape’ under Abortion laws, Journalist Sidhique Kappan’s bail; Constitution Bench’s opinion on Doctrine of Precedents; Reference of question relating to Pre-sentence hearing of death row convicts; Explainers on important law points; Collegium Recommendation; and more
IBC-Limitation| Pendency of proceedings in a parallel forum not sufficient cause for delay in filing Section 9 IBC application: Supreme Court
“A claim may not be barred by limitation. It is the remedy for realisation of the claim, which gets barred by limitation.”
Withdrawal under Section 12-A IBC: Remedial Mechanism in the Interest of Stakeholders
by Amir Bavani*, Rishika Kumar** and Ayushi Verma***
IBC’s Section 53 does not over-ride Section 48 of GVAT Act; Adjudicating Authority may reject Resolution Plan if it ignores statutory dues payable to State/Legal authority: SC
Supreme Court: The bench of Indira Banerjee* and AS Bopanna, JJ has reversed the NCLAT order wherein it was held that the
Explained| Retroactive, True Retroactivity, Quasi-retroactivity, and Retrospective: Synonymous or distinct?
“Merely because a law operates on certain circumstances which are antecedent to its passing does not mean that it is retrospective.”
SC upholds applicability of SEBI Circular; but gives a green signal to Reliance Commercial Finance resolution to avoid “unscrambling of resolution process”
“Such unscrambling of the resolution process will not only prove time-consuming, but may also adversely affect the agreed realized gains to the retail debenture holders, who have already consented to the negotiated settlement before the High Court.”
2022 SCC Vol. 7 Part 4
Constitution of India — Arts. 300-A and 31 — Expropriation of private property by State — Compensation — Entitlement: State
What is the effect of commencement of proceedings under the IBC, over any pending proceedings before another Court or Tribunal? ITAT discusses
Income Tax Appellate Tribunal (ITAT), Hyderabad: While deciding the instant appeal in the backdrop of Corporate Insolvency Resolution Proceedings (CIRP) pending against
IBC prevails over Customs Act once moratorium is imposed; CBIC has limited jurisdiction, cannot initiate recovery of dues: Supreme Court
Supreme Court: The 3-judge bench of NV Ramana*, CJ and JK Maheshwari and Hima Kohli, JJ has held that the Insolvency and
No Smooth Sailing For Insolvency Law
by Shyam Kapadia† and Dhruva Gandhi†
2022 SCC Vol. 7 Part 2
Army Act, 1950 — Ss. 125, 126, 69, 3(ii) and 70 — Criminal trial — Concurrent jurisdiction of court martial
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
Entertainment City Ltd an ‘affiliate’ of United Group; NCLAT grants Moratorium Benefits
National Company Law Appellate Tribunal, New Delhi: The Bench of Ashok Kumar Bhushan, J., Chairperson, M. Satyanarayana Murthy, J., Judicial
NCLAT| Right to payment cannot be accrued when a corporate guarantee is not invoked before CIRP initiation
National Company Law Appellant Tribunal, New Delhi: The Bench of Ashok Bhushan, J., Chairperson, and Shreesha Merla, Technical Member, while
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
NCLT| Sahara Hospitality to go through Corporate Insolvency Process
National Company Law Tribunal, Mumbai: The Bench of P.N. Deshmukh, J., Judicial Member, and Shyam Babu Gautam, Technical Member admitted