NCLT rejects Akshay Kumar’s insolvency plea against edtech Cue Learn

4 days, 17 hours ago

Labour Court Cannot Grant Monetary Relief Without Pre-existing Entitlement: Bombay HC Clarifies Scope Of Recovery Under Section 33C(2), Industrial Disputes Act

Live Law

Bombay High Court: A Single Judge Bench of Justice R.I. Chagla ruled that claims under Section 33C of the Industrial Disputes Act must be supported by clear entitlements arising from statute, contract, or custom. Receiving no favorable response again, Intwala filed an application under Section 33C of the Industrial Disputes Act, 1947 seeking recovery of Rs. Representing Casby Logistics, Mr. …

Court Labour Transfer Order Industrial Claims Industrial Disputes Act

5 days, 9 hours ago

IBBI asks resolution professionals to be more open about losses carried forward

Live Mint

New Delhi: The Insolvency and Bankruptcy Board of India has told debt resolution professionals to be more open about bankrupt companies’ past losses that can be carried forward, helping attract fresh investments into the company. The idea is that greater disclosures about ‘carry forward’ of past losses, which will lower future tax liability of the company, could result in more …

Resolution Debt Order Carry Forward Losses Professionals

5 days, 19 hours ago

No S.138 NI Act Case Against Ex-Director Of Company When Cause Of Action Arose After IBC Moratorium Was Declared: Supreme Court

Live Law

The Supreme Court held that if the cause of action for the offence of cheque dishonour under Section 138 of the Negotiable Instruments Act, 1881 has arisen after the declaration of moratorium with respect to the company as per the Insolvency & Bankruptcy Code, 2016, then the proceedings under S.138 NI Act cannot be continued against the ex-director of the …

Action Corporate Court Case Cause Proceedings Act

6 days, 23 hours ago

Delhi HC to hear ED’s petition against Arvind Kejriwal’s bail

New Indian Express

NEW DELHI: The Delhi High Court is set to hear the Enforcement Directorate’s challenge against the bail granted to former Chief Minister Arvind Kejriwal in the excise policy-linked money laundering case on Monday. Kejriwal’s legal team, however, has maintained that his bail should stand, emphasising that all other accused in the case have already been granted similar relief. The Supreme …

Delhi Bail Kejriwal

1 week ago

Lenders transfer ₹1,104cr McLeod Russel debt at discount with 5-yr repayment tenure

Live Mint

Kolkata, Mar 16 A consortium of lenders to bulk tea producer McLeod Russel India Limited has transferred its debt exposure to the National Asset Reconstruction Company Limited for ₹700 crore, representing a 36 per cent haircut, sources said on Sunday. The Swiss challenge auction for the debt transfer of the base value of ₹700 crore received no counterbids against NARCL’s …

Bank Debt Company Crore Narcl Mcleod Russel

1 week ago

Excise scam: Delhi HC to hear ED's plea challenging Kejriwal's bail in money laundering case

The Hindu

The Delhi High Court is slated to hear on Monday a plea by the Enforcement Directorate against the bail granted to former Chief Minister Arvind Kejriwal in the excise policy-linked money laundering case. Mr. Kejriwal's counsel had submitted that his bail be maintained as all other accused had already been granted bail in the money laundering case. The Supreme Court …

Money Bail Cbi Kejriwal Laundering Money Laundering Case Scam Delhi

1 week ago

SC reaffirms mandatory CCI approval in insolvency cases: Former SC Judge Justice AK Sikri strongly concurs with the landmark HNG judgement

Op India

In a landmark decision passed by the Supreme Court of India in the Hindustan National Glass case on the 29th of January 2025, has reinforced the legislative intent behind Section 31 of the Insolvency and Bankruptcy Code, clarifying that prior approval of the Competition Commission of India is mandatory before a resolution plan involving a combination can be approved by …

Justice Market Court Insolvency Competition Supreme Approval

1 week, 4 days ago

NI Act | Single Complaint For Dishonour Of More Than Three Cheques Maintainable If Covered By Consolidated Demand Notice: J&K High Court

Live Law

Clarifying the legal position under the Negotiable Instruments Act, 1881, the High Court of Jammu and Kashmir and Ladakh has held that mere issuance or dishonour of a cheque does not give rise to a cause of action under Section 138 of the Act. While dismissing a petition challenging a complaint under the NI Act Justice Sanjay Dhar observed that …

Court Respondent Notice Demand Complaint Single Offence

1 week, 4 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 …

Corporate Insolvency Tribunal New Delhi Nclt Initiate Creditors

1 week, 4 days ago

Pay interest on wrongly-kept money: Supreme Court to Delhi government

Hindustan Times

Money received and retained without legal authority carries with it the right to interest — even for the government — the Supreme Court has ruled, stressing that undue retention of any money warrants proper compensation to its owner by the state and its departments. There being no express statutory provision for payment of interest on the refund of excess amount/tax …

Delhi Money Interest Delhi Government

1 week, 4 days ago

Even govt must pay interest on wrongfully retained money: SC

Hindustan Times

Money received and retained without legal authority carries with it the right to interest — even for the government — the Supreme Court has ruled, stressing that undue retention of any money warrants proper compensation to its owner by the state and its departments. The present ruling came as the court directed the Delhi government to pay interest on the …

Delhi Court Money Interest Paper Refund

1 week, 6 days ago

Punjab & Haryana HC Raps State For Biased Probe Against Cops Accused Of Taking Bribe In Drugs Case, Refers Case To NCB

Live Law

The Punjab & Haryana High Court has set aside the order of punishment of forfeiture of three increments with permanent effect passed against a Haryana Police Officer for allegedly taking bribe to settle a drugs case. Justice Jagmohan Bansal said, "as the respondent by way of affidavit has expressed its inability to proceed with respect to recovery of ganja and …

Court Haryana Order Complainant Ganja Petitioner Her Accomplice

1 week, 6 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 …

Insolvency Resolution National Technical Resolution Professional Company Resolution Plan

2 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 …

Appeal Insolvency Corporate Debtor Technical Case Resolution Professional Company

2 weeks, 1 day ago

NCLT Doesn't Have Jurisdiction To Direct ED To Defreeze Corporate Debtor's Account Frozen Under PMLA: NCLT

Live Law

The National Company Law Tribunal, New Delhi bench comprising Justice Bachu Venkat Balaram Das and Atul Chaturvedi has held that the NCLT, which is the Adjudicating Authority under the Insolvency and Bankruptcy Code, 2016 does not have the power to issue directions to the Directorate of Enforcement to defreeze the account of the Corporate Debtor when the account was frozen …

Jurisdiction Corporate Resolution Corporate Debtor Applicant Tribunal Held

2 weeks, 2 days ago

Man Spends 4+ Yrs In Jail Without Trial For Offence With Max 5 Yrs Sentence, P&H High Court Laments ₹1 Crore Bond Condition For Default Bail

Live Law

Observing that the case shows "distressing picture of the criminal justice system's failure", the Punjab & Haryana High Court has set aside condition to pay Rs.1.10 crore in bail bond for granting default bail to an accused in Tax Fraud case. It further said that the failure to release the petitioner under Section 479 BNSS, when his right to default …

Trial Tax Court Bail Right Release Default

2 weeks, 3 days ago

Payments From Corporate Debtor's Account Post-CIRP Commencement Without IRP Approval Is Breach Of Moratorium: NCLT Mumbai Directs Refund

Live Law

The National Company Law Tribunal, Mumbai bench comprising Prabhat Kumar and Justice V. G. Bisht have held that any payments made from the Corporate Debtor's account after the commencement of the Corporate Insolvency Resolution Process without the Interim Resolution Professional's approval are in contravention of the moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016. 3 to 6 …

Mumbai Corporate Payments Corporate Debtor Tribunal Respondent Code

2 weeks, 3 days ago

Operational Creditors Cannot Question Approval Of Resolution Plan That Provides Them With More Than Liquidation Value: NCLAT

Live Law

The National Company Law Appellate Tribunal New Delhi bench of Justice Ashok Bhushan, Mr. Barun Mitra and Mr. Arun Baroka that Resolution Plan approved by the Adjudicating Authority cannot be questioned by the Operational Creditors when they were provided more than the liquidation value under the Plan as per section 30 of the Insolvency and Bankruptcy Code, 2016. Contentions: The …

Resolution Operational Resolution Plan Tribunal Period Plan Value

2 weeks, 3 days ago

Delhi HC Asks CESTAT To Decide If Tax On Services Purchased By Prepaid Mobile Subscribers From Existing Balance Would Amount To Double-Tax

Live Law

The Delhi High Court has asked the Customs Excise & Service Tax Appellate Tribunal to decide whether levy of tax on the services purchased by a prepaid subscriber of Tata Teleservices, using the existing mobile balance on which tax was already paid, would amount to double taxation. It observed, “Considering the factual nature of the issue and the fact that …

Delhi Tax Court Services Service Paid Petitioner

2 weeks, 4 days ago

Moratorium Period Under IBC Does Not Bar Payment Of Compensation Under NI Act: J&K High Court Orders ₹4 Crore Interim Compensation

Live Law

The Jammu and Kashmir High Court held that the declaration of a moratorium would not bar the complainant from filing a complaint under the NI Act. The court said that the debtor cannot take refuge under the Code to frustrate proceedings under the NI Act if he is found liable to pay compensation in the proceedings. The trial court directed …

Compensation Court Proceedings Act Moratorium Interim Petitioner

2 weeks, 6 days ago

Indian payments firm AGS Transact Technologies faces insolvency over alleged unpaid dues

Live Mint

* AGS Transact defaulted on dues totalling 7.26 billion rupees * Crisil downgraded stock on February 4, India Ratings on February 5 * Shares slump 62.4% since February 4, hit record low MUMBAI, March 3 - Indian payments services firm AGS Transact Technologies said on Saturday that a creditor plans to initiate insolvency proceedings against the company for non-payment of …

India Bank Company Crisil Rating Default Ags

2 weeks, 6 days ago

Coffee Day Enterprises rallies 18% as NCLAT sets aside insolvency proceedings; up over 40% in 2 days

Live Mint

Shares of Coffee Day Enterprises Ltd surged nearly 18 percent in intraday trading on Tuesday, March 4, marking their second consecutive session of strong gains. This follows a 20 percent surge in the previous session after the National Company Law Appellate Tribunal dismissed insolvency proceedings against the company, boosting investor sentiment. The case, filed by IDBI Trusteeship Services over an …

Insolvency Nclt Proceedings Nclat Insolvency Proceedings Company Stock Sets Aside

2 weeks, 6 days ago

Punjab cabinet approves Rs 200 crore OTS schemes for industrialists

New Indian Express

CHANDIGARH: With an eye on the 2027 assembly elections, the Punjab cabinet today approved a one-time settlement policy to clear dues on industrial plots allotted before January 2020. This policy will provide Rs 200 crore in relief to 1,145 industrialists who were unable to pay their dues due to the increase in land costs. After the cabinet meeting, while providing …

Ots Punjab Cabinet Simple Interest

3 weeks, 1 day ago

ED restores ₹274-cr worth assets in bank ’fraud’ case

Live Mint

New Delhi, Mar 1 The Enforcement Directorate has restored assets worth ₹274 crore in a money laundering investigation linked to an alleged bank loan fraud. The directors of PSL Limited "diverted" loan funds of ₹274.60 crore which was nothing but proceeds of crime, the federal agency said in a statement issued on Friday. The ED said it attached assets worth …

Psl Limited

3 weeks, 1 day ago

Interest Free Maintenance Fee Deposited By Allottees Under Conveyance Deed Cannot Be Considered As Financial Debt U/S 5(8) Of IBC: NCLAT

Live Law

The National Company Law Appellate Tribunal New Delhi bench of Justice Ashok Bhushan, Mr. Barun Mitra and Mr. Arun Baroka has held that interest free maintenance fee to be paid by the allottees to the corporate debtor under the Conveyance Deed cannot be considered as financial debt under section 5 of the Insolvency and Bankruptcy Code, 2016. Contentions: The Appellant …

Security Corporate Financial Maintenance Debt Tribunal Held

3 weeks, 1 day ago

Borrower Not 'Consumer' If Loan Was For Profit Generation, Consumer Complaint Not Maintainable Against Bank : Supreme Court

Live Law

The Supreme Court held that a borrower will not come within the definition of "consumer" under Section 2 of the Consumer Protection Act, 1986 if the loan was taken for a profit-generating exercise. The Court held that the complaint filed by the borrower against the bank was not maintainable under the Consumer Protection Act as it was a "pure business-to-business …

Consumer Court Purpose Bank Loan Transaction Bureau

3 weeks, 2 days ago

When Debt Is Not Unequivocally Admitted By Corporate Debtor, Application U/S 9 Of IBC Must Not Be Entertained: NCLAT

Live Law

The National Company Law Appellate Tribunal New Delhi bench of Justice Ashok Bhushan, Mr. Barun Mitra and Mr. Arun Baroka has held that the application under section 9 of the Insolvency and Bankruptcy Code, 2016 cannot be entertained when the debt is not unequivocally admitted by the Corporate Debtor. The Operational Creditor issued a demand notice under section 8 of …

Corporate Corporate Debtor Operational Creditor Operational Application Debt Tribunal

3 weeks, 3 days ago

Court grants bail to railway officer arrested for accepting bribe of ₹25L

Hindustan Times

MUMBAI: A special CBI court recently granted bail to Saurabh Prasad, the divisional railway manager of East Coast Railways arrested for allegedly demanding and accepting a bribe of ₹25 lakh from a contractor in Mumbai in connection with a tender. Court grants bail to railway officer arrested for accepting bribe of ₹ 25L Along with Prasad, CBI also arrested two …

Railway Accused Cbi Officer Bill Prasad Railway Officer

3 weeks, 4 days ago

NCLT Mumbai Approves ACME Cleantech's Resolution Plan For Reliance Big Private Limited

Live Law

The National Company Law Tribunal, Mumbai bench comprising Justice V. G. Bisht and Shri Prabhat Kumar has approved the Resolution Plan for Reliance Big Private Limited submitted by ACME Cleantech Solutions Private Limited. Brief Facts: Mr. Rohit Ramesh Mehra, Resolution Professional of Reliance Big Private Limited moved the application under Section 30 r/w Section 31 of the Insolvency and Bankruptcy …

Treatment Corporate Financial Resolution Resolution Plan Tribunal Plan

3 weeks, 5 days ago

Pre-Section 10A Default Is Not Extended By Acknowledgment When Partial Payment Is Made For Acknowledged Debt: NCLAT

Live Law

The National Company Law Appellate Tribunal Chennai Bench of Justice Sharad Kumar Sharma and Mr. Jatindranath Swain has held that the default falling in pre-section 10A period cannot be said to be continued when some payments towards the acknowledgement of debt accumulating during the prohibited period is made. Subsequently, the 1st Respondent filed the Application under Section 9 of the …

Corporate Application Debt Tribunal Period Nclt Nclat

1 month ago

AO Becomes 'Functus Officio' After Closure Of Assessment, Must Put Relevant Incriminating Material To Assessee To Re-Confer Jurisdiction: Delhi HC

Live Law

The Delhi High Court has made it clear that after the closure of assessment proceedings, the Assessing Officer becomes 'functus officio' and to re-confer jurisdiction upon the AO to initiate re-assessment proceedings, relevant incriminating material ought to be put to the assessee. A division bench of Chief Justice Devendra Kumar Upadhyaya and Justice Tushar Rao Gedela made the observation while …

India Court Proceedings Scn Entity Functus Officio Relevant Incriminating Material

1 month ago

Offence Being Part Of Commercial Transaction Alone Not Enough To Avoid Trial: J&K High Court

Live Law

Dismissing a petition that sought the quashing of an FIR and charge sheet, the Jammu and Kashmir and Ladakh High Court held that merely because the offence was committed during the course of a commercial transaction, it would not suffice to conclude that the complaint does not warrant a trial. Merely because offence was committed during the course of a …

Trial Court Allegations Commercial Fir Complaint Transaction

1 month ago

Dismissing Plea Due To Shortage Of Stenographers Unwarranted: Punjab & Haryana HC Says DRT Presiding Officer Ought To Have Raised Issue With Authorities

Live Law

The Punjab & Haryana High Court today said that Debt Recovery Tribunal cannot dismiss application on the ground that there is shortage of stenographers or typists.Justice Anupinder Singh Grewal and Justice Sumeet Goel said, "the dismissal of the application on account of shortage of stenographers and typists is unwarranted and the applications ought to have been heard and decided. The …

India Court Application Chandigarh Punjab Shortage Advocate

1 month ago

Dismissing Plea Due To Shortage Of Stenographers Unwarranted: Punjab & Haryana HC Says DRT Presiding Officer Ought To Have Raised Issue With Authorities

Live Law

The Punjab & Haryana High Court today said that Debt Recovery Tribunal cannot dismiss application on the ground that there is shortage of stenographers or typists.Justice Anupinder Singh Grewal and Justice Sumeet Goel said, "the dismissal of the application on account of shortage of stenographers and typists is unwarranted and the applications ought to have been heard and decided. The …

India Court Application Chandigarh Punjab Shortage Advocate

1 month 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 …

India Court Insolvency Settlement Crore Nclt Bcci

1 month ago

Supreme Court holds husband liable for wife’s stock market debt based on oral contract — what does this mean?

Live Mint

The Supreme Court of India, has in a ruling last week, held that a husband is legally liable to repay his wife's stock market debt of around ₹1.18 crore along with 9 per cent interest, based on a verbal contract, according to a report by Bar and Bench. In its ruling, the apex court noted that a husband can be …

Debt Stock Held Husband Jatin Liable Heena

1 month 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 …

Insolvency Application Technical Case Company Judicial Tribunal

1 month ago

Machinery Hypothecated By Corporate Debtor Against Loan Remains Its Asset If No Lease Deed Is Shown By Third Party: NCLAT

Live Law

The National Company Law Appellate Tribunal New Delhi bench of Justice Rakesh Kumar Jain and Mr. Naresh Salecha has held that the corporate debtor shall remain the owner of the machinery in its possession if no lease deed is shown under which the third party is claiming to be the owner of the machinery therefore the Resolution Professional is entitled …

Corporate Corporate Debtor Lease Filed Third Party Sra Appellant

1 month ago

Non-Registration Of “Charge” U/S 77 Of Companies Act Does Not Bar Creditor From Being Treated As “Secured Creditor” Under IBC During CIRP: NCLAT

Live Law

The National Company Law Appellate Tribunal, New Delhi bench comprising Justice Yogesh Khanna and Mr. Arun Baroka have held that non-registration of “charge” in terms of Section 77 of Companies Act, 2013 is not a sine qua non for a Creditor to be treated as a “Secured Creditor” under section 3 of the Insolvency and Bankruptcy Code, 2016 by the …

Companies Act Companies Charge Interest Tribunal Act Appellant

1 month ago

IL&FS group firms initiate payout of ₹5,000 crore under interim distribution

The Hindu

IL&FS Group said its companies have initiated an interim distribution of ₹5,000 crore – including ₹3,500 crore of Infrastructure Investment Trust units and ₹1,500 crore in cash – to eligible creditors as part of the group’s ongoing resolution efforts. Post this payout, the aggregate debt discharged across IL&FS Group companies will stand at approximately ₹43,000 crore, accounting for over 70% …

Assets Units Crore Group Funds Payout Pension Funds

1 month, 1 week ago

New UPI transaction rule: All you need to know about auto chargeback process

India Today

The National Payments Corporation of India has announced some changes to Unified Payments Interface transactions from February 15, 2025. Presently, the remitting banks raise chargeback from T+0 onwards in the Unified Dispute Resolution Interface. The new system will use Transaction Credit Confirmation and will implement auto acceptance/rejection of chargeback, thereby eliminating the need for manual intervention. At times, errors like …

Transaction Upi Chargeback

1 month, 1 week ago

NCLT approves JSW Energy’s ₹16,000 crore bid to buy KSK Mahanadi Power

The Hindu

In a major development, National Company Law Tribunal, Hyderabad on Thursday approved JSW Energy Ltd’s ₹16,084.08 crore resolution plan to acquire bankrupt KSK Mahanadi Power Company Ltd. As per the approved plan, against the admitted claims of over ₹26,094 crore, the KSK Mahanadi’s creditors will get ₹16,084.08 crore. The plan provides for upfront cash payment of ₹15,985.08 crore to financial …

Crore Nclt Jsw Mahanadi Jsw Energy Ksk Ksk Mahanadi

1 month, 1 week ago

Punjab & Haryana High Court Upholds ₹50K Cost On Bank For 17 Years Of Silence On Retired Employee's Plea Seeking Release Of Gratuity

Live Law

The Punjab & Haryana High Court upheld cost of Rs.50,000 imposed on Punjab & Sind Bank over failure to file reply for 17 years in a plea filed by a retired employee seeking release of gratuity. A plea before single judge was filed by an employee of the Punjab & Sind Bank who despite being acquitted in the criminal case …

Court Gratuity Bank Order Judge Punjab File

1 month, 1 week ago

Moratorium During Insolvency Process Does Not Bar Cheque Dishonour Proceedings Against Persons Referred U/S 141 Of NI Act: Kerala High Court

Live Law

The Kerala High Court yesterday, observed that during the Corporate Insolvency Resolution Process, initiation of cheque dishonour proceedings, due to the moratorium, is prohibited only against the corporate debtor and not against the persons referred under Section 141 of the Negotiable Instruments Act. “ When the Corporate Insolvency Resolution Process of the company is underway, the corporate debtor would be …

Kerala Corporate Court Insolvency Company Proceedings Act

1 month, 1 week ago

IBC Weekly Round-Up [2nd February-9th February 2025]

Live Law

Nominal Index: Damodar Valley Corporation vs. Mackeil Ispat & Forging Ltd. & Anr., Company Appeal No. 2316 of 2024' M/s.Isthara Parks Private Limited v M/s.Valmar Projects LLP & Ors., CP No.216/9/IIDB/2023 Aditya Birla Finance Limited vs. Mr. Pankaj Srivastava, IA No. 149/BB/2023 High Court Corporate Debtor Immune From Prosecution Under PMLA Post Approval Of Resolution Plan: Delhi High Court Case …

Appeal Insolvency Title Technical Case Company Judicial

1 month, 1 week ago

Constitution Of Project Management Committee Under Settlement Agreement Does Not Absolve Corporate Debtor From Repayment Obligations: NCLAT

Live Law

The NCLAT New Delhi bench of Justice Ashok Bhushan, Mr. Barun Mitra and Mr. Arun Baroka has held that any dispute even pending in the arbitration does not in any manner prohibit the financial creditor to take remedy under Section 7 of the code. It also held that the constitution of a Project Management Committee comprising members of financial creditors …

Corporate Financial Corporate Debtor Project Pmc Repayment Default

1 month, 1 week ago

Reliance Capital acquisition: IIHL to acquire debt-ridden Anil Ambani company by February 26; NCLT accepts plea

Live Mint

IndusInd International Holdings Limited is set to acquire Anil Ambani’s debt-laden company Reliance Capital by February 26, 2025, following the National Company Law Tribunal’s approval of the company’s request, according to a report. During a recent hearing, IIHL confirmed the submission of all definitive documents and the achievement of financial closure necessary for implementing the resolution plan for Reliance Capital, …

Resolution Capital Report Nclt Pti Reliance Reliance Capital

1 month, 1 week ago

UPI transactions: These new rules will come into force from Feb 15. Check details

Live Mint

National Payments Corporation of India has issued fresh instructions with regards to UPI transactions relating to auto acceptance and rejection of chargebacks basis the Transaction Credit Confirmation and returns. The digital payments body has rolled out auto acceptance and rejection of chargebacks basis the TCC/RET raised by the beneficiary bank in next settlement cycle after the chargeback is already raised. …

Banks Raised Ret Upi Npci Chargeback Tcc

1 month, 1 week ago

Business Arrangement Involving Joint Profit-Sharing, Exclusive Supply Agreement Does Not Establish Creditor-Debtor Relationship Under IBC: NCLT

Live Law

The National Company Law Tribunal, Delhi, has held that a petitioner cannot initiate the Corporate Insolvency Resolution Process under Section 9 of the Insolvency and Bankruptcy Code, 2016 if the business arrangement between the parties involves joint participation and profit-sharing rather than a straightforward operational debt. According to the factual matrix of the case, an application was filed by M/s …

Relationship Corporate Operational Creditor Agreement Tribunal Code Joint

1 month, 1 week ago

Delhi court grants bail to CEO, coordinator in UPSC coaching drowning case

Hindustan Times

A Delhi court on Monday granted bail to RAU's IAS Study Circle former CEO Abhishek Gupta and coordinator Deshpal Singh in a case related to the drowning of three aspirants at the basement of the coaching centre in Old Rajinder Nagar in July 2024. RAU's IAS Study Circle former CEO Abhishek Gupta and coordinator Deshpal Singh granted bail. Principal district …

Delhi Bail Deshpal Singh

NCLT rejects Akshay Kumar’s insolvency plea against edtech Cue Learn

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NCLT Dismisses Actor Akshay Kumar's Insolvency Petition U/S 9 Of IBC Against Ed-Tech Company

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