India Spawns the Pre-Packaged Insolvency for MSMEs in Motion— The Insolvency and Bankruptcy Code (Amendment) Act, 2021
by Swarnendu Chatterjee*and G. Vidya Kamath**
NCLT
In case of an application being filed under S.7 of IBC, will insufficiency of stamp duty be looked into? NCLT decides
National Company Law Tribunal, Mumbai: The Coram of H.V. Subba Rao, Judicial Member addressed the relevancy of insufficiency of stamp duty under
Once Adjudicating Authority approves Resolution Plan, does it still remains a confidential document? Read what NCLAT says
National Company Law Appellate Tribunal (NCLAT): Justice Ashok Bhushan (Chairperson) and Dr Ashok Kumar Mishra (Technical Member) expressed that, once Resolution Plain
Corporate Insolvency, Claims against Corporate Debtor and Period of Limitation; SC assesses impact of COVID-19 pandemic
Supreme Court: In a case relating to Corporate Insolvency, the Division Bench comprising of Indira Banerjee* and J.K. Maheshwari, JJ., quashed the
Is approval with 90% vote of CoC required before allowing withdrawal of CIRP application even where CoC was not yet constituted? NCLAT clarifies law on S. 12-A IBC
National Company Law Appellate Tribunal, New Delhi (NCLAT): The Coram of Justice Ashok Bhushan (Chairperson) and Jarat Kumar Jain (Judicial Member) and
“NCLT can encourage settlements, it cannot direct it by acting as courts of equity” SC holds NCLT has limited powers to either admit or reject an application u/s 7(5) of IBC
Supreme Court: The Division Bench comprising of Dr Dhananjaya Y Chandrachud* and A S Bopanna, JJ., held that the powers of NCLT
Attachment of Bank Accounts of a Corporate Debtor: Is it violative of S. 14 of IBC during pendency of Corporate Insolvency Resolution Process? NCLT explains
National Company Law Tribunal, Mumbai Bench: The Coram of H.V. Subba Rao, Judicial Member and Chandra Bhan Singh, Technical Member directed that
“Any deviation would defeat the object and purpose of providing such time limit under IBC”; Supreme Court directs to speed up insolvency process of Amtek Auto
Supreme Court: The Division Bench of M.R. Shah* and Sanjiv Khanna, JJ., directed to speed up the insolvency resolution process of Amtek
Can NCLT entertain an arbitrable dispute? SC sets the yardsticks of residuary powers of NCLT under IBC
“The residuary jurisdiction of the NCLT cannot be invoked if the termination of a contract is based on grounds unrelated to the insolvency of the Corporate Debtor.”
NCLAT | Existence of Dispute prior to issuance of Demand Notice-NCLT and NCLAT in rhythm, rejects appeal
National Company Law Appellate Tribunal (NCLAT): The Coram of Ashok Bhushan, J (Chairperson), Jarat Kumar Jain, J (Judicial) and Dr Ashok Kumar
Kar HC | Interplay between IBC and Companies Act regarding winding up petitions; Court decides in matter of transfer of company petition to NCLT
Karnataka High Court: S. Sunil Dutt Yadav, J., decided in the matter of a petition which was filed praying to transfer a
Decoding Winding up by Special Resolution under the Companies Act, 2013
by Saai Sudharsan Sathiyamoorthy and Chandramouli Prabhakar*
NCLT | Debt acknowledged in emails, CIRP initiated resultantly-Appoints IRPM and declares moratorium
National Company Law Tribunal, New Delhi Bench, New Delhi –The Coram of P.S.N Prasad, Judicial Member and Narender Kumar Bhola, Technical Member
NCLAT | ‘Unhesitatingly’ decides the ‘unsustainability’| Nominee Director reminded of the not so nominal duties| Held: ‘Controlling by votes’ is ‘Controlling interest’
National Company Law Appellate Tribunal-The Coram of Justice M. Venugopal, Acting Chairperson and Kanthi Narahari, Technical Member while concurring with the adjudicating
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 | In last meeting of CoC, unreasonable pushed in ‘success fee’ appears like an afterthought-Affirms proportionate distribution
National Company Law Appellate Tribunal (NCLAT): The Coram of Justice A.I.S. Cheema, Officiating Chairperson and Alok Srivastava, Technical Member while dismissing an
Supreme Court on preferring an appeal before NCLAT beyond a period of 30 days: Read the Law [Explained]
Supreme Court of India: The Bench of M.R. Shah and Aniruddha Bose, JJ., observed that, “Appellate Tribunal has jurisdiction or power to
Resolution Applicant under IBC not allowed to withdraw/modify its Resolution Plan, once submitted for approval of NCLT: Supreme Court
Supreme Court: A Division Bench of Dr D.Y. Chandrachud and M.R. Shah, JJ. has held that under Insolvency and Bankruptcy Code, 2016,
8 Judicial and 10 Technical Members appointed in National Company Law Tribunal
Appointments Committee of the Cabinet has approved the proposal for the appointment of the following persons to the posts of Judicial and
NCLT| Evaluation of CoC wisdom, beyond the purview of NCLT-Is expected ‘just’ to initiate liquidation process rather
National Company Law Tribunal, Hyderabad Bench: The Coram of Madan B Gosavi (Judicial Member) and Veera Brahma Rao Arekapudi (Technical Member) was