Weekly Digest Of IBC Cases: 03rd June 2024 To 09th June 2024
9 months, 2 weeks ago

Weekly Digest Of IBC Cases: 03rd June 2024 To 09th June 2024

Live Law  

HIGH COURTS Official Liquidator Must Adhere To Ethical Principles And Fairness To Discharge Their Duties Under IBC: Delhi High Court Case Title: Sundaresh Bhat vs Insolvency And Bankruptcy Board of India Case No. 105, 106, 990 of 2024 The National Company Law Appellate Tribunal Delhi, comprising Mr. Justice Rakesh Kumar Jain, Mr. Naresh Salecha, and Mr. Indevar Pandey held that the claims of Tax Assessment Orders passed during the moratorium under Sections 14 & 33 of Insolvency and Bankruptcy Code, 2016 can be considered as Unsecured Operational Debt. 137 of 2021 The National Company Law Appellate Tribunal Delhi comprising Justice Rakesh Kumar Jain and Mr. Ajai Das Mehrotra held that proceedings under Section 66 of Insolvency and Bankruptcy Code, 2016 for fraudulent or wrongful trading can be initiated against third parties. 769 of 2024 The National Company Law Appellate Tribunal, Principal Bench, New Delhi comprising Shri Justice Ashok Bhushan and Shri Barun Mitra and Shri Arun Baroka held that Refundable Security Deposit carrying interest in development agreement constitutes under Section 5 of IBC since the development agreement has the effect of a commercial transaction. 1272 of 2019 The National Company Law Appellate Tribunal, Principal Bench, New Delhi, comprising Justice Rakesh Kumar Jain, Shri Naresh Salecha and Shri Indevar Pandey, held that there is no provision of IBC, which mandates that the related party should be paid in parity with unrelated party.

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History of this topic

Cash recovery row: Supreme Court in-house committee begins inquiry, visits Delhi HC judge Yashwant Varma's residence
4 days, 20 hours ago

Cash recovery row: Supreme Court in-house committee begins inquiry, visits Delhi HC judge Yashwant Varma's residence

Hindustan Times  

Justice Yashwant Varma case: A Supreme Court-appointed three-member committee on Tuesday began its probe into the alleged cash discovery case linked to Delhi high court judge Justice Yashwant Varma. Himachal Pradesh High Court Justice GS Sandhawalia arrives at the residence of senior Delhi High Court Judge, Justice Yashwant Varma, in New Delhi, on Tuesday, As part of the inquiry, Justice …

IBC Cases Weekly Round Up [17th March-23rd March 2025]
5 days, 15 hours ago

IBC Cases Weekly Round Up [17th March-23rd March 2025]

Live Law  

Nominal Index: Manish Mukim v. Ms. Rakhi and Anr., Company Appeal No. Case Number:Company Appeal No.249 of 2025 The National Company Law Appellate Tribunal New Delhi bench of Justice Ashok Bhushan, Mr. Arun Baroka and Mr. Barun Mitra has held that After submission of the final revised Resolution Plan within the stipulated timeframe, the Resolution Applicant cannot be permitted to …

Cash-at-home row: What’s the 2018 CBI case involving Delhi HC judge Yashwant Varma?
1 week ago

Cash-at-home row: What’s the 2018 CBI case involving Delhi HC judge Yashwant Varma?

Firstpost  

Delhi High Court Justice Yashwant Varma, who is at the centre of a storm after a huge pile of unaccounted cash was allegedly discovered at his official home, was named in an FIR by the CBI in a sugar mill fraud case in 2018. allahabadhighcourt.in via PTI Delhi High Court Justice Yashwant Varma is under scanner after a huge stash …

Penalties U/S 65 Of IBC Can Be Imposed Against Those Who Fraudulently Initiate Insolvency Process: NCLAT
2 weeks, 3 days ago

Penalties U/S 65 Of IBC Can Be Imposed Against Those Who Fraudulently Initiate Insolvency Process: NCLAT

Live Law  

The National Company Law Appellate Tribunal, Principal Bench, New Delhi comprising of Justice Ashok Bhushan and Barun Mitra and Arun Baroka disposed an appeal filed by a majority shareholder of the corporate debtor stating that the Section 7 application filed by financial creditors was fraudulently filed in collusion with the corporate debtors' promoters. NCLAT Judgement The National Company Law Appellate …

IBC Weekly Round-Up [3rd March To 9th March, 2025]
2 weeks, 5 days ago

IBC Weekly Round-Up [3rd March To 9th March, 2025]

Live Law  

Nominal Index: Shri Krishan V. H.S Oberoi Buildtech Private Ltd.,Company Appeal No. 128 of 2025 The National Company Law Appellate Tribunal, Principal Bench, New Delhi comprising of Justice Ashok Bhushan, Barun Mitra and Arun Baroka, dismissed a set of four appeals filed under Section 61 of Insolvency and Bankruptcy Code 2016 stating that the appellants had failed to exercise due …

IBC Monthly Digest [February 2025]
3 weeks ago

IBC Monthly Digest [February 2025]

Live Law  

Nominal Index: Damodar Valley Corporation vs. Mackeil Ispat & Forging Ltd. & Anr., Company Appeal No. Case Title: Edelweiss Asset Reconstruction Company Ltd. vs. Chirag Rejendrakumar Shah Case Number: Company Appeal No.242 of 2025 The National Company Law Appellate Tribunal New Delhi bench comprising Justice Ashok Bhushan, Barun Mitra and Arun Baroka have re-iterated that that liquidation of the Corporate …

Bombay High Court halts Maharashtra ACB action against ex-SEBI chief Madhabi Puri Buch, others till March 4
3 weeks, 5 days ago

Bombay High Court halts Maharashtra ACB action against ex-SEBI chief Madhabi Puri Buch, others till March 4

The Hindu  

The Bombay High Court on Monday asked the Anti-Corruption Bureau not to act on a Mumbai sessions court order to register an FIR against former Securities and Exchange Board of India Chairperson Madhabi Puri Buch and five others, until March 4, 2025. The sessions court on March 1, 2025 directed the ACB to register a First Information Report against Buch …

IBC Weekly Round-Up [17th February-23rd February 2025]
1 month ago

IBC Weekly Round-Up [17th February-23rd February 2025]

Live Law  

Nominal Index: BANK OF BARODA v. FAROOQ ALI KHAN & ORS., CIVIL APPEAL NO. Case Title: Edelweiss Asset Reconstruction Company Ltd. vs. Chirag Rejendrakumar Shah Case Number: Company Appeal No.242 of 2025 The National Company Law Appellate Tribunal New Delhi bench comprising Justice Ashok Bhushan, Barun Mitra and Arun Baroka have re-iterated that that liquidation of the Corporate Debtor should …

Byju’s insolvency: Brothers move court to keep creditors away from ₹158 cr settlement
1 month, 1 week ago

Byju’s insolvency: Brothers move court to keep creditors away from ₹158 cr settlement

Live Mint  

Riju Raveendran, a suspended director of embattled edtech firm Byju’s, has approached the bankruptcy appeals court to prevent its creditors from deciding on a ₹158 crore settlement with India’s cricket board. The Bengaluru bench of the National Company Law Tribunal had on 10 February directed BCCI to submit the ₹158 crore settlement plea to the CoC for approval to facilitate …

IBC Weekly Round-Up [10th February -16th February 2025]
1 month, 1 week ago

IBC Weekly Round-Up [10th February -16th February 2025]

Live Law  

Nominal Index: Global Indian School Education Services Pvt. 5841, 5842, 5843 of 2023 The National Company Law Appellate Tribunal New Delhi bench of Justice Rakesh Kumar Jain, Mr. Naresh Salecha and Mr. Indevar Pandey has held that the security amount deposited under a Memorandum of Understanding without any intention of commercial effect of borrowing and time value of money cannot …

Supreme Court Weekly Round-up: February 03, 2025 To February 09, 2025
1 month, 2 weeks ago

Supreme Court Weekly Round-up: February 03, 2025 To February 09, 2025

Live Law  

Nominal Index Citations Rimpa Saha v. District Primary School Council Malda 2025 LiveLaw 143 Lok Prahari through its General Secretary v. Union of India 2025 LiveLaw 144 Rajeev Suri v. Archaeological Survey of India & Ors., Special Leave to Appeal No.12213/2019 2025 LiveLaw 145 State of Madhya Pradesh v. Dileep 2025 LiveLaw 146 Bhupinder Singh v. Unitech Ltd., Civil Appeal …

Bharatiya Nagarik Suraksha Sanhita (BNSS) And Bhartiya Nyaya Sanhita (BNS) Monthly Digest – January 2025
1 month, 2 weeks ago

Bharatiya Nagarik Suraksha Sanhita (BNSS) And Bhartiya Nyaya Sanhita (BNS) Monthly Digest – January 2025

Live Law  

Supreme Court: Plea In Supreme Court Challenges BSA's Electronic Evidence & Confession Provisions And BNS Sections Case Title: Vinod Kumar Boinapally Versus Union Of India And Ors., W.P. S.187 BNSS | Supreme Court Affirms HC Judgment That Police Custody Must Be Within First 40 Days For Offences Punishable Upto 10 Yrs Imprisonment Case : Hyder Ali v.State of Karnataka The …

IBC Monthly Digest: January 2025
1 month, 3 weeks ago

IBC Monthly Digest: January 2025

Live Law  

NOMINAL INDEX: Adroit Pharmaceuticals Pvt. Ltd Versus Dharmendra Kumar, Case Number: Company Appeal No.2196 of 2024 The NCLAT New Delhi bench of Justice Ashok Bhushan, Mr. Barun Mitra and Mr. Arun Baroka has held that when the appeal is dismissed on the ground of non-prosecution, it cannot be said to be dismissed on merits as well. Case Title: Indospirit Distribution …

Corporate Debtor Immune From Prosecution Under PMLA Post Approval Of Resolution Plan: Delhi High Court
Trending News
1 month, 3 weeks ago

Corporate Debtor Immune From Prosecution Under PMLA Post Approval Of Resolution Plan: Delhi High Court

Live Law  

The Delhi High Court bench of Justice Manmeet Pritam Singh Arora has held that in accordance with Section 32A of the Insolvency and Bankruptcy Code, 2016, a Corporate Debtor that has successfully undergone a resolution process under Section 31 of the IBC shall not be prosecuted for offences committed prior to the commencement of the CIRP. Arguments Dr. Abhishek Manu …

Jammu & Kashmir And Ladakh High Court Monthly Digest: January 2025
1 month, 3 weeks ago

Jammu & Kashmir And Ladakh High Court Monthly Digest: January 2025

Live Law  

Nominal Index: M/S K.P Singh Lau Through its proprietor Kavinder Pal Singh Vs Union of India 2025 LiveLaw 1 M/S SAWALKOTE PROSJEKTU TVIKLING AS Vs UT Of J&K 2025 LiveLaw 2 Mohammad Yousuf Mir & Ors. v. UT of J&K & Ors 2025 LiveLaw 3 Hilal Ahmad Mir Vs Directorate Of Enforcement 2025 LiveLaw 4 Syed Tajamul Bashir Vs Farooq …

Calcutta High Court to ‘supervise’ framing of charges in R.G. Kar financial irregularities case
1 month, 3 weeks ago

Calcutta High Court to ‘supervise’ framing of charges in R.G. Kar financial irregularities case

The Hindu  

The Calcutta High Court on Thursday said it would ‘strictly supervise’ the proceedings before the special court of the Central Bureau of Investigation at Alipore concerning the framing of charges in the case of alleged financial irregularities at the R.G. Sandip Ghosh, former principal of RGKMCH, charged with allegations of corruption and financial malpractice at the institution during his tenure, …

NCLT Orders Disciplinary Proceedings Against Resolution Professional Of BYJU's, Says He Acted With Prejudice To Mislead Tribunal
1 month, 3 weeks ago

NCLT Orders Disciplinary Proceedings Against Resolution Professional Of BYJU's, Says He Acted With Prejudice To Mislead Tribunal

Live Law  

The National Company Law Tribunal, Bengaluru bench comprising Justice K. Biswal and Ravichandran Ramasamy have held that that as per the Insolvency and Bankruptcy Code, 2016, there is no provision to 'provisionally' constitute the Committee of Creditors ; the CoC once constituted is final and cannot be revised or reconstituted by the Interim Resolution Professional /Resolution Professional without the interference …

IBC Weekly Round Up[27th January-2nd February 2025]
1 month, 3 weeks ago

IBC Weekly Round Up[27th January-2nd February 2025]

Live Law  

Nominal Index: INDEPENDENT SUGAR CORPORATION LTD. V. GIRISH SRIRAM JUNEJA & ORS., CIVIL APPEAL NO. 321 of 2024 PUNJAB NATIONAL BANK LIMITED VS. M/S MBL TOLL ROAD COMPANY LIMITED, CP No.423//2023 Supreme Court Case name: INDEPENDENT SUGAR CORPORATION LTD. V. GIRISH SRIRAM JUNEJA & ORS., CIVIL APPEAL NO. Case Number: RERA APPEAL 7/2024 The Delhi High Court bench comprising Justice …

Economic Survey 2025: IBC nudging companies to resolve their distress early
1 month, 4 weeks ago

Economic Survey 2025: IBC nudging companies to resolve their distress early

Live Mint  

The Economic Survey 2024-25 lavished praise on the Insolvency and Bankruptcy Code for transforming the behaviour of distressed companies, highlighting that the law has acted as a deterrent, encouraging many firms to resolve their financial distress early in order to avoid the consequences of a resolution process. they are resolving when default is imminent, on receipt of a notice for …

Liquidation Proceeds Must Be Distributed Amongst Secured Creditors Based On Admitted Claims U/S 53 Of IBC: NCLAT
2 months ago

Liquidation Proceeds Must Be Distributed Amongst Secured Creditors Based On Admitted Claims U/S 53 Of IBC: NCLAT

Live Law  

The NCLAT New Delhi bench of Justice Ashok Bhushan and Mr. Barun Mita has held that liquidation proceeds must be distributed as per section 53 of the IBC based on admitted claims of the respective secured creditors and cannot be distributed on the basis of security interest of different Secured Creditors. '2017 where it was held that inter se priority …

IBC Cases Weekly Round-Up [20th January To 26th January 2025]
2 months ago

IBC Cases Weekly Round-Up [20th January To 26th January 2025]

Live Law  

Nominal Index: Umang Realtech Pvt. Ltd. vs. Mrs Daphne Reita Rajan Sharma & Anr.,RERA APPEAL 7/2024 M/s Jones Lang Lasalle Building Operations Pvt. – 264/PB/2023 Anita Goyal Versus Vistra ITCL Ltd. & Anr, Company Appeal No.2282 of 2024 Whatsapp LLC vs. Competition Commission of India & Ors., I.A No. : IB 572/2022 & IA 5437/ND/2023 The National Company Law Tribunal, …

Bombay High Court Weekly Round-Up: January 20 - January 26, 2025
2 months ago

Bombay High Court Weekly Round-Up: January 20 - January 26, 2025

Live Law  

2025 LiveLaw 22 to 2025 LiveLaw 35 Nominal Index: The Assistant Director, Directorate of Enforcement vs. vs. State of Maharashtra & anr., 2025 LiveLaw 29 Seawoods Estates Ltd. vs Union of India, 2025 LiveLaw 30 Jaago Nehru Nagar Residents Welfare Association vs Commissioner of Police, 2025 LiveLaw 31 Sabyasachi Nishank vs State of Maharashtra, 2025 LiveLaw 32 Sukhshanti Co-operative Housing …

70 Important Judgments Of Delhi High Court In 2024 [Part II]
2 months, 1 week ago

70 Important Judgments Of Delhi High Court In 2024 [Part II]

Live Law  

LiveLaw reported 1394 judgments from Delhi High Court in 2024. Finalize Technical Solution To Sync ICJS System With Police Criminal Database: Delhi High Court To NIC, State Crime Record Bureau Title: COURT ON ITS OWN MOTION v. STATE Citation: 2024 LiveLaw 865 The Delhi High Court has called for finalization of the technical solution to sync the Inter-operable Criminal Justice …

IBC Weekly Round Up [13th January To 19th January, 2025]
2 months, 1 week ago

IBC Weekly Round Up [13th January To 19th January, 2025]

Live Law  

Nominal Index Ganesh Chandra Bamrana and Ors. 1480 of 2024 Pawan Kumar Versus Central Bank of India & Ors., Company Appeal No.1095 of 2024 Amit Yogesh Satwara Versus Incred Financial Services Limited, Company Appeal No.1584 of 2024 Mirra & Mirra Industries vs. Mrs. B. Usha Rani & Anr., RA : 165/2018 and RA :178/2018 Anup Kumar Liquidator of Independent TV …

IBC Weekly Round Up [6th January-12th January 2025]
2 months, 2 weeks ago

IBC Weekly Round Up [6th January-12th January 2025]

Live Law  

NOMINAL INDEX: Harpal Singh Chawla v. Vivek Khanna & Ors., Civil Appeal No. Ltd Versus Dharmendra Kumar,, Company Appeal No.2196 of 2024 Indospirit Distribution Limited Vs Kristal Spirits India Pvt Ltd, COMPANY APPEAL No.503 of 2024 Sumati Suresh Hegde & Ors. NCLAT Case Title: Drish Shoes Workers Union Versus Drish Shoes Ltd. Case Number:Company Appeal No.2281 of 2024 & I.A. …

Jammu & Kashmir And Ladakh High Court Weekly Roundup: January 6 - January 12, 2025
2 months, 2 weeks ago

Jammu & Kashmir And Ladakh High Court Weekly Roundup: January 6 - January 12, 2025

Live Law  

Nominal Index : M/S K.P Singh Lau Through its proprietor Kavinder Pal Singh Vs Union of India 2025 LiveLaw 1 M/S SAWALKOTE PROSJEKTU TVIKLING AS Vs UT Of J&K 2025 LiveLaw 2 Mohammad Yousuf Mir & Ors. v. UT of J&K & Ors 2025 LiveLaw 3 Hilal Ahmad Mir Vs Directorate Of Enforcement 2025 LiveLaw 4 Syed Tajamul Bashir Vs …

HC issues notice to CBI in ex-Axis MF manager’s front-running fraud case
2 months, 3 weeks ago

HC issues notice to CBI in ex-Axis MF manager’s front-running fraud case

Hindustan Times  

Mumbai: The Bombay High Court on Friday issued a notice to the Central Board of Investigation in a plea related to an alleged multi crore mutual fund scam case against Viresh Joshi, a former manager at Axis Mutual Fund, and others, in connection with the multi-crore ‘front-running’ fraud. A bench of justice Revati Mohite-Dere and justice Dr. Neela Gokhale was …

Delhi High Court Half Yearly Digest: July To December 2024 [Citations 734 - 1394]
2 months, 4 weeks ago

Delhi High Court Half Yearly Digest: July To December 2024 [Citations 734 - 1394]

Live Law  

The Delhi High Court Bench of Mr. Justice Jasmeet Singh held that the role of the court under section 9 of the Arbitration Act is to preserve the subject matter of the Arbitration till the arbitral tribunal decides the claims on merits. The Delhi High Court Bench of Justice Sanjeev Narula held that the issue of limitation, raised as a …

Annual Digest Of IBC Cases: 2024
2 months, 4 weeks ago

Annual Digest Of IBC Cases: 2024

Live Law  

Supreme Court Case Title: Ansal Crown Heights Flat Buyers Association vs. M/S. : Company Appeal No.231 of 2023 The National Company Law Appellate Tribunal, New Delhi, comprising Justice Ashok Bhushan and Mr. Barun Mitra, has held that the Corporate Debtor cannot be absolved from its liability to discharge its Operational debt by the Insurance Company's payment to the Operational Creditor …

IBC Monthly Digest: December 2024
2 months, 4 weeks ago

IBC Monthly Digest: December 2024

Live Law  

SUPREME COURT Case Title : China Development Bank vs Doha Bank OPSC and others Citation : 2024 LiveLaw 1029 The Supreme Court has observed a default is not necessary for a debt to become a financial debt under the Insolvency and Bankruptcy Code, 2016. Case Number: Company Appeal No.1380 of 2024 The NCLAT New Delhi bench of Justice Ashok Bhushan, …

Insolvency & Bankruptcy Code : Important Judgments By Supreme Court In 2024
2 months, 4 weeks ago

Insolvency & Bankruptcy Code : Important Judgments By Supreme Court In 2024

Live Law  

As the year 2024 nears its end, LiveLaw brings to you a summary of important Supreme Court judgments of the year rendered in connection with the Insolvency and Bankruptcy Code, 2016. Supreme Court Refers To Larger Bench, Doubts Precedent Case: DBS Bank Ltd Singapore v. Ruchi Soya Industries Ltd and another In this case, a bench comprising Justice Sanjiv Khanna …

Insolvency & Bankruptcy Code : Important Judgments By Supreme Court In 2024
2 months, 4 weeks ago

Insolvency & Bankruptcy Code : Important Judgments By Supreme Court In 2024

Live Law  

As the year 2024 nears its end, LiveLaw brings to you a summary of important Supreme Court judgments of the year rendered in connection with the Insolvency and Bankruptcy Code, 2016. Supreme Court Refers To Larger Bench, Doubts Precedent Case: DBS Bank Ltd Singapore v. Ruchi Soya Industries Ltd and another In this case, a bench comprising Justice Sanjiv Khanna …

IBC Weekly Round Up [23rd December-29th December 2024]
2 months, 4 weeks ago

IBC Weekly Round Up [23rd December-29th December 2024]

Live Law  

NOMINAL INDEX China Development Bank vs Doha Bank OPSC and others, 2024 LiveLaw 1029 Ram Kishor Arora, Suspended Director of Supertech Ltd. vs. Union Bank of India & Anr., Company Appeal No. 748 of 2023 Vidyadhar Sarfare & Anr Versus CS Anagha Anasingharaju & Ors., Company Appeal No.1733 of 2024 M/S ALLIED HI-TECH INDUSTRIES PRIVATE LIMITED VS. KARVY DATA MANAGEMENT …

IBC Weekly Round-Up: 16th December -20th December 2024
3 months ago

IBC Weekly Round-Up: 16th December -20th December 2024

Live Law  

NCLAT The NCLAT New Delhi bench of Justice Ashok Bhushan, Barun Mitra and Arun Baroka has held that Non Fund Based facilities cannot be refused to be disbursed when the approved Resolution Plan contains a clause for their disbursement. 7303, 7304 of 2024 The NCLAT New Delhi bench of Justice Ashok Bhushan, Mr. Barun Mitra and Mr. Arun Baroka has …

2024 year-end review: How legal precedents and IBC reforms reshaped India's financial system
3 months, 1 week ago

2024 year-end review: How legal precedents and IBC reforms reshaped India's financial system

Firstpost  

The Indian banking system has undergone significant changes in recent years, largely due to the growing economy and increased consumer spending. Recovery statistics and IBC The enactment of the Insolvency and Bankruptcy Code in 2016 marked a transformative change in India’s banking and corporate law, providing a responsive framework for reorganising distressed corporate debtors and maximising their value. Creditors have …

ED restitutes assets worth ₹4,025 crore in Bhushan Power and Steel case to JSW
3 months, 2 weeks ago

ED restitutes assets worth ₹4,025 crore in Bhushan Power and Steel case to JSW

The Hindu  

The Enforcement Directorate has restituted assets worth ₹4,025 crore to JSW, a Successful Resolution Applicant in the matter of the erstwhile Bhushan Power and Steel Limited under the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code. The assets were provisionally attached by the ED under Section 5 of Prevention of Money Laundering Act as the erstwhile promoters of …

SBI-led committee to be set up to formulate new list of large stressed accounts with banks for resolution under IBC
3 months, 2 weeks ago

SBI-led committee to be set up to formulate new list of large stressed accounts with banks for resolution under IBC

Live Mint  

The government has decided to set up a committee under the State Bank of India chairman to examine and submit a fresh list of stressed accounts with banks for transfer to NCLT and bolster the resolution pipeline This would be in addition to the top 20 accounts identified by banks earlier for admission at the NCLT. During the meeting, Nagaraju …

IBC Weekly Round Up [2nd December To 8th December, 2024]
3 months, 2 weeks ago

IBC Weekly Round Up [2nd December To 8th December, 2024]

Live Law  

Nominal Index: Harsh Mehta Versus Securities and Exchange Board of India and Ors., WRIT PETITION NO. 737, 783 of 2024 Mr. Gajjala Yoganand versus Mr. Birendra Kumar Agarwal and Ors., IA No.373 of 2024 in CP No.296/7/HDB/2022 M/s Avani Towers Private Limited vs. M/s Energy Properties Private Limited, IA No. Related Party Can't Be Allowed Backdoor Entry Into CoC On …

NCLT member crunch slows down bankruptcy resolution
3 months, 3 weeks ago

NCLT member crunch slows down bankruptcy resolution

Live Mint  

New Delhi: A 30% shortage of key members at India’s bankruptcy courts is slowing the process of debt resolution, according to official data. Twenty-two businesses have found debt resolution under the Insolvency and Bankruptcy Code in October-November period of this year, against 47 in the year-ago period, provisional public data from Insolvency and Bankruptcy Board of India showed. And in …

IBC Monthly Digest: November 2024
3 months, 3 weeks ago

IBC Monthly Digest: November 2024

Live Law  

NOMINAL INDEX Noida Special Economic Zone Authority Vs. Manish Agarwal & Ors., CIVIL APPEAL NOS. Case Reference: Company Appeal No.355 of 2024 The NCLAT New Delhi Bench of Justices Ashok Bhushan, Barun Mitra and Arun Baroka held that the IBC being a special statute and having a non-obstante clause under section 238 of the IBC shall prevail over the TRAI …

Supreme Court Weekly Round-up: November 25, 2024 To December 01, 2024
Trending News
3 months, 3 weeks ago

Supreme Court Weekly Round-up: November 25, 2024 To December 01, 2024

Live Law  

Index Citations M/S Ajay Protech Pvt. Case Details: State of Karnataka v. Chandrasha Criminal Appeal No.2646 Of 2024 Citation: 2024 LiveLaw 926 While convicting a government servant for taking a bribe of Rs.2000, the Supreme Court observed that it was not necessary for the amount involved to be substantial to draw the presumption under Section 20 of the Prevention of …

IBC Weekly Round-Up [25th November To 1st December, 2024]
3 months, 3 weeks ago

IBC Weekly Round-Up [25th November To 1st December, 2024]

Live Law  

Nominal Index: Mr. Bhagawant Narayan Naik, Versus Ritesh R. Mahajan and Ors., Company Appeal No. Case Title: Mapletree Leather Goods Private Limited v. Savan Godiawala, C/o Deloitte Touche Tohmatsu India LLP Case Number: Company Appeal No.314/2020 The National Company Law Appellate Chennai comprising of Justice Sharad Kumar Sharma, and Jatindranath Swain dismissed two appeals filed by the Corporate Debtor seeking …

Byju’s insolvency: Riju Raveendran approaches NCLT to seek inclusion in case
3 months, 3 weeks ago

Byju’s insolvency: Riju Raveendran approaches NCLT to seek inclusion in case

Live Mint  

New Delhi: Riju Raveendran, the largest shareholder of edtech company Byju’s and brother of founder Byju Raveendran, approached the insolvency tribunal on Monday, seeking to be included in the insolvency case deliberations involving the troubled firm, its lenders and the cricket board. They argued that the settlement was tainted as it involved stolen money and questioned how Riju Raveendran could …

Arbitration Weekly Round-Up [25th November To 1st December, 2024]
3 months, 3 weeks ago

Arbitration Weekly Round-Up [25th November To 1st December, 2024]

Live Law  

Supreme Court S.29A Arbitration | 'Sufficient Cause' To Extend Time For Award Should Be Interpreted To Facilitate Effective Dispute Resolution : Supreme Court Case Title: M/S AJAY PROTECH PVT. 34078 of 2023 The Bombay High Court bench of Justice Arif S. Doctor has held that Section 9 of the A&C Act is not the correct mechanism to obtain relief against …

Bombay High Court Weekly Round-Up: November 25 - December 01, 2024
3 months, 4 weeks ago

Bombay High Court Weekly Round-Up: November 25 - December 01, 2024

Live Law  

Citations: 2024 LiveLaw 611 to 2024 LiveLaw 617 Nominal Index: Mihir Shah vs. State, 2024 LiveLaw 611 High Court of Judicature at Bombay on its Own Motion vs. Mayur Gulabrao Patil & anr., 2024 LiveLaw 612 Mahindra and Mahindra Ltd. vs. Union of India & ors., 2024 LiveLaw 613 Neilan International Co Ltd vs Powerica Ltd, 2024 LiveLaw 614 SS …

IBC Weekly Round-Up [18th November To 24th November 2024]
4 months ago

IBC Weekly Round-Up [18th November To 24th November 2024]

Live Law  

Nominal Index Siti Networks Ltd. vs. Rajiv Suri NO. Versus Shri Sutanu Sinha Case Reference: Company Appeal No.1927 of 2024 The NLCAT New Delhi bench of Justice Ashok Bhushan and Barun Mitra held that no interest on principal amount can be claimed if there is no clause to this effect in the agreement executed between the parties. The Tribunal further …

Supreme Court Weekly Round-up: November 11, 2024 To November 17, 2024
4 months, 1 week ago

Supreme Court Weekly Round-up: November 11, 2024 To November 17, 2024

Live Law  

Nominal Index Citations M/S Crystal Transport Private Limited & Anr. Case Details: XYZ v. State of Gujarat Citation: 2024 LiveLaw 887 The Supreme Court advised High Courts to exercise caution before quashing non-compoundable cases based on settlement between the victim and the accused. Case Details: Som Nath Bharti v. State of Uttar Pradesh The Supreme Court dismissed a petition filed …

IBC Weekly Digest: 4th November To 10th November 2024
4 months, 2 weeks ago

IBC Weekly Digest: 4th November To 10th November 2024

Live Law  

NOMINAL INDEX Noida Special Economic Zone Authority Vs. Manish Agarwal & Ors., CIVIL APPEAL NOS. NCLAT Settlement Plan U/S 12A Of IBC Cannot Be Considered By CoC After Approval Of Resolution Plan: NCLAT Case Title: Pratham Expofab Private Limited v. Mr. Anil Matta, Resolution Professional and Ors. Case Reference: Company Appeal No.355 of 2024 The NCLAT New Delhi Bench of …

Jet Airways liquidation: A wake-up call for India’s insolvency code
4 months, 3 weeks ago

Jet Airways liquidation: A wake-up call for India’s insolvency code

Live Mint  

New Delhi: The Supreme Court’s decision ordering the liquidation of Jet Airways, once India’s leading airline, has provided sufficient fodder for bankruptcy experts urging for an overhaul of India’s insolvency framework. JKC’s repeated non-compliance with the terms of the resolution plan caused the value of the plan to diminish significantly," said Devesh Dubey, senior associate at Sanjay RPK Law, a …

Delhi High Court Weekly Round-Up: October 28 To November 03, 2024
4 months, 3 weeks ago

Delhi High Court Weekly Round-Up: October 28 To November 03, 2024

Live Law  

Citations 2024 LiveLaw 1181 to 2024 LiveLaw 1195 NOMINAL INDEX HARI OM SHARMA v. SAUMAN KUMAR CHATTERJEE & ANR 2024 LiveLaw 1193 Jeewraj Singh Shekhawat vs. UOI & Ors 2024 LiveLaw 1194 MATTHEW JOHNSON DARA v. HINDUSTAN URVARAK AND RASAYAN LTD 2024 LiveLaw 1195 Impermissible To Use Section 45 Of PMLA As Tool For Incarceration When Delay In Trial Not …

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