Category: bankruptcy
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 …
IBBI prescribes guidelines for preservation of records by Insolvency Professional. Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2022 IBBI has amended the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 by introducing Insolvency and Bankruptcy …
Anuradha Guru, Economic Adviser, Ministry of Corporate Affairs appointed as ex-officio member in the Insolvency and Bankruptcy Board of India to represent the Ministry MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 28th January, 2022 S.O. 408(E).—In exercise of the powers conferred by clause (b) of sub-section (1) …
No modifications or withdrawals of CoC-approved Resolution Plans at behest of successful Resolution Applicant once plan submitted to Adjudicating Authority- Supreme Court In a recent judgment the Hon’ble Supreme Court have held that under the existing insolvency framework in India there is no scope for further modifications or …
Pre Packaged Insolvency Resolution Package for corporate debtor classified as MSME Pre Packaged Insolvency Resolution Package for corporate debtor classified as MSME. The Government has notified the Insolvency and Bankruptcy Code (Amendment) Act, 2021 w.e.f. 4th April 2021. to make amendments in the Insolvency and Bankruptcy Code, 2016 …
No bar in limitation law to amendment of pleadings in application u/s 7 of IBC or to the filing of additional documents-Supreme Court ABCAUS Case Law CitationABCAUS 3538 (2021) (08) SC Important case law relied referred:Asset Reconstruction Company (India) Limited vs. Bishal Jaiswall and Anr.Bengal Silk Mills Co. …
