Category: bankruptcy
Demanding bribe from directors of Corporate Debtor – IBBI absolves Insolvency Professional In a recent order, Disciplinary Committee of Insolvency and Bankruptcy Board of India (IBBI) on benefit of doubt, absolved an Insolvency Professional (IP) of the charges of demanding bribe from directors of the suspended board of …
Information Utility under IBBI to verify before issuance of a record of default. the Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, 2024. INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 13th August, 2024 Insolvency and Bankruptcy Board of India (Information Utilities) (Amendment) Regulations, …
IBBI Disciplinary Committee to dispose off SCN to service provider within sixty days from the due date for receipt of reply to the show-cause notice INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 13th August, 2024 Insolvency and Bankruptcy Board of India (Inspection and Investigation) (Amendment) …
Generation of Valuation Report Identification Number for valuation conducted by Register Valuer under Insolvency and Bankruptcy Code, 2016. IBBI has mandated generation of a unique Valuation Report Identification Number (VRIN) to be mentioned on the front page of the valuation reports issued under the provisions of Insolvency and …
NCLT could have decided fee and expenses of RP only on basis of material before it In a recent judgment, NCLAT held that NCLT could have decided fee and expenses of Resolution Professional to be paid by Financial Creditor only on the basis of material before it. ABCAUS …
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 …