Category: bankruptcy
Payment by corporate guarantor does not extinguish liability of corporate debtor to pay the entire amount payable – SC In a recent judgment, the Hon’ble Supreme Court has held that payment by corporate guarantor does not extinguish liability of corporate debtor to pay the entire amount payable. A …
Supreme Court lays down tests to determine whether a debt is a financial debt or an operational debt under IBC In a recent judgment the Hon’ble Supreme Court has laid down tests to determine whether a debt is a financial debt or an operational debt under IBC ABCAUS …
Special Court presided by a Sessions Judge or an Additional Sessions Judge will have jurisdiction to try the complaint under the IBC 2016 In a recent judgment, the Hon’ble Supreme Court has held that Special Court presided by a Sessions Judge or an Additional Sessions Judge will have …
Provisions of moratorium under IBC 2016 not to apply to transactions, arrangements or agreements relating to aircraft, aircraft engines, airframes and helicopters MINISTRY OF CORPORATE AFFAIRSNOTIFICATIONNew Delhi, the 3rd October, 2023 S.O. 4321(E).—WHEREAS, the Convention on International Interests in Mobile Equipment and the Protocol to the Convention on …
Moratorium under IBC for prohibiting activities not to apply where corporate debtor has entered into specified transactions, arrangements or agreements MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 14th June, 2023 S.O. 2660(E).—In exercise of the powers conferred by clause (a) of sub-section (3) of section 14 of …
Challenged to IBC by a Chartered Accountant refused by Supreme Court for want of locus and bonafide. ABCAUS Case Law CitationABCAUS 3619 (2022) (11) SC In the instant case, a Chartered Accountant (CA) has in the guise of public interest to sought to invoke the jurisdiction of the …
Definition of secured creditor in IBC does not exclude Government or Governmental Authority – Supreme Court ABCAUS Case Law CitationABCAUS 3610 (2022) (09) SC Important Case Laws relied upon by parties Swiss Ribbons (P) Ltd. v. Union of IndiaVishal Saxena & Anr. vs. Swami Deen Gupta Resolution ProfessionalAssistant …
Insolvency Laws – Amendment in various regulations 15th June, 2022 IBBI (Inspection and Investigation) (Amendment) Regulations, 2022 15th June, 2022 Circular – Application under Rule 4, 6 or 7 of Insolvency and Bankruptcy (Application to Adjudication Authority) Rules, 2016 15th June, 2022 IBBI (Information Utilities) (Amendment) Regulations, 2022 …
NCLAT or NCLT cannot sit in an appeal over the commercial wisdom of Committee of Creditors – Supreme Court ABCAUS Case Law Citation ABCAUS 3601 (2022) (06) SC Important case law relied referred:Arun Kumar Jagatramkav. Jindal Steel and Power Limited and AnotherK. Sashidhar v. Indian Overseas Bank and …
Since part amount of the auctioned property was received by bank after start of CIRP, and order of moratorium, the sale could not be said to have completed – SC ABCAUS Case Law Citation ABCAUS 3592 (2022) (05) SC Important case law relied referred:Vidhyadhar vs. Manikrao and Another …
