Liquidation Archives

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | Rejection of Resolution Plan by the NCLT due to Non-Serious, Casual and Non-Diligent Conduct of Resolution Appellant is Good in Law

“The CIRP is a time bound process where timeline has been prescribed for each step. The CIRP cannot be allowed to continue for indefinite period.”

Legislation Updates Rules & Regulations

Signing of charge e-forms by insolvency resolution professional or resolution professional or liquidator for companies under resolution or liquidation vide Companies (Registration of Charges) Second Amendment Rules, 2022

The Central Government has notified the Companies (Registration of Charges) Second Amendment Rules, 2022 to amend the Companies (Removal of Names of

High Court Round Up Legal RoundUp Tribunals/Regulatory Bodies/Commissions Monthly Roundup

8 Legal Stories of the Week: From the release of movie Gangubai Kathiawadi to WhatsApp Admin’s liability if a member of group shares objectionable content on group and many more such stories

Here’s our interesting picks of the week from the stories reported “Notaries operating from public taxis around vicinity of Court”: Dignity of

Case Briefs Supreme Court

“Shylock has received their promised pound of flesh but they seem to want more”; Bank entitled to withhold payment where Bond holder’s title is clouded as fraudulent: SC

Supreme Court: The Division Bench of Hrishikesh Roy* and R. Subhash Reddy, JJ., while deciding on an appeal challenging dismissal of suit

Case Briefs Tribunals/Commissions/Regulatory Bodies

Can application filed under S. 95(1) read with S. 60(1) IBC be rejected on ground that no Corporate Insolvency Resolution Process was pending against Corporate Debtor? NCLAT addresses

If CIRP or Liquidation Proceeding of a Corporate Debtor is pending before a NCLT, application relating to Insolvency Process of Corporate or

Case Briefs Tribunals/Commissions/Regulatory Bodies

If granting exclusion of time would help Corporate Debtor from liquidation, should NCLAT allow such exclusion? Here’s what NCLAT says

National Company Law Appellate Tribunal, New Delhi (NCLAT): The Coram of Justice M. Venugopal (Judicial Member) and Dr Ashok Kumar Mishra (Technical

Case Briefs Tribunals/Commissions/Regulatory Bodies

EPC Construction Resolution: NCLAT allows distribution of Rs 223 crores from available cash balance among creditors and lenders

National Company Law Appellate Tribunal (NCLAT): The Bench of Justice Ashok Bhushan (Chairperson) and Dr. Alok Srivastava (Technical Member) allowed distribution of

Akaant Mittal Experts Corner

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

Akaant Mittal Experts Corner

Gratuity Dilemma vis-à-vis Liquidation Process under the IB Code

by Akaant Kumar Mittal† and Lavanya Jha††

Cite as: 2021 SCC OnLine Blog Exp 51

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT| 31 hearings, no regards to time, addendums, midway interruptions and yet no heed to initiation to liquidation; Adjudicating authority advised to be mindful

National Company Law Appellate Tribunal– A Coram of Bansi Lal Bhatt, J. (Acting Chairperson) and Dr Ashok Kumar Mishra (Technical Member) ordered

Akaant Mittal Experts Corner

Interplay between tax laws and IB Code during liquidation

by Akaant Kumar Mittal†

Cite as: 2021 SCC OnLine Blog Exp 5

Legislation Updates Rules & Regulations

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

Legislation Updates Rules & Regulations

IBBI amends Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017

The Insolvency and Bankruptcy Board of India (IBBI) notified the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Second Amendment) Regulations,

Case Briefs Tribunals/Commissions/Regulatory Bodies

NCLAT | NCLT’s order directing liquidation of corporate debtor upheld where resolution applicant was a ‘related party’ and thus not eligible under S. 29-A IBC

National Company Law Appellate Tribunal (NCLAT): A Bench of Justice Venugopal M., Member (Judicial) and Balvider Singh and Ashok Kumar Mishra, Members (Technical)

Case Briefs Foreign Courts

UK SC | Bank held liable for the breach of Quincecare duty of care towards its customer company – first successful claim for such a breach

Supreme Court of the United Kingdom: A Full Bench of Lady Hale (President), Lord Reed (Deputy President), Lord Lloyd Jones, Lord Sales,

Legislation Updates Rules & Regulations

MCA notifies Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019

The Ministry of Corporate Affairs (MCA) has notified the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application

Case Briefs Tribunals/Commissions/Regulatory Bodies

SEBI | Adjudication proceedings under SEBI Act against a Noticee whose commencement of liquidation has been ordered, cannot be initiated without leave of NCLT

Securities and Exchange Board of India (SEBI): V.S. Sundaresan, Adjudicating Officer, quashed the adjudicating proceedings initiated against ABG Shipyard Limited, holding them

Case Briefs Supreme Court

Merely because the period fixed for liquidation is over, the proceedings for recovery of dues do not stand closed: SC

Supreme Court: When the 3-judge bench of Arun Mishra, SA Nazeer and MR Shah, JJ was called upon to decide whether under