IRP Archives | SCC Times

Read why Supreme Court upheld DHFL’s resolution plan by Piramal Capital and set aside NCLAT’s order

“There is a clear distinction between the Avoidance Applications that may be filed by the Resolution Professional in view of Section 25(2)(j), for avoidance of transactions in accordance with Chapter III of the IBC, and the applications that may be filed in respect of the fraudulent trading or wrongful trading under Section 66, which falls under Chapter VI of the IBC.”

Case Briefs Supreme Court

Can Section 138 NI Act proceedings be quashed against former director of company, suspended from his position on appointment of IRP? SC answers

The immunity granted by the moratorium order issued under Section 14 of the IBC can only be obtained by a corporate debtor and not by a natural person such as the present accused, who was the Director of the corporate debtor.

Case Briefs Supreme Court

Read why Supreme Court dismissed NOIDA Special Economic Zone Authority’s appeal for claim of Rs. 6 Crore against corporate debtor

The claims pertaining to the transfer fees, etc., cannot be dealt with by courts or tribunals as the same relates to the commercial wisdom of the Committee of Creditors for they are the best persons to determine their interests, and any such interference is non-justiciable except as provided by Section 30(2) of IBC 2016.

Case Briefs High Courts

[IBC] Statutory authorities chose not to submit their proof of claim; Delhi High Court quashes show cause issued by Directorate of Revenue Intelligence

In the instant case, the Directorate of Revenue Intelligence neither submitted proof of claim nor responded to a specific communication via an e-mail addressed to Senior Intelligence Officer. This is a case where despite knowledge, the statutory authorities chose not to submit their proof of claim.