Supreme Court upholds Modi govt's Insolvency and Bankruptcy Code
1 year, 1 month ago

Supreme Court upholds Modi govt's Insolvency and Bankruptcy Code

Op India  

On Thursday, 9th November, the Supreme Court upheld the constitutional validity of the provisions of the Insolvency and Bankruptcy Code, 2016, relating to Personal Guarantors’s Insolvency Resolution. The Supreme Court bench ruled that it could not read an adjudicatory role into these rules and that changing the adjudicatory role would render the entire chronological procedure null and void. Back in 2021, the Supreme Court affirmed the rules of the Insolvency and Bankruptcy Code relating to the insolvency of personal guarantors, which went into effect in 2019. Notably, the Insolvency and Bankruptcy Code 2016, is a bankruptcy law in India brought by the Narendra Modi-led NDA government seeking to consolidate the existing framework by creating a single Law for Insolvency and Bankruptcy.

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History of this topic

IBC | Moratorium Does Not Extinguish Claim : Supreme Court
3 days, 4 hours ago

IBC | Moratorium Does Not Extinguish Claim : Supreme Court

Live Law  

The Supreme Court has held that a moratorium declared under Section 14 of the Insolvency and Bankruptcy Code, 2016 will not extinguish a claim. The Court stated that Section 14 bars the institution/continuation of legal proceedings against the corporate debtor, transfer of assets, enforcement of security interest etc. "If the argument that the claims of all the creditors of the …

IBC reforms: Let’s strengthen the Code as a key growth enabler
2 weeks, 6 days ago

IBC reforms: Let’s strengthen the Code as a key growth enabler

Live Mint  

The Insolvency and Bankruptcy Code transformed India’s approach to corporate financial distress. The IBC succeeded because the entire ecosystem and institutional infrastructure, from regulators, including the new Insolvency and Bankruptcy Board of India, and the legislature to the courts, banks and the market worked for it. The rate of recovery fell to 27% of creditors’ admitted claims in 2023-24 from …

IBBI Releases Discussion Paper On Real Estate Issues, Suggests Inclusion Of Land Authorities In CoC Meetings
1 month, 2 weeks ago

IBBI Releases Discussion Paper On Real Estate Issues, Suggests Inclusion Of Land Authorities In CoC Meetings

Live Law  

On 7th November, 2024, the Insolvency and Bankruptcy Board of India has released a discussion paper on the issues related with the Real Estate with seven proposals. Proposed Inclusion of Land Authorities in Committee of Creditors Meetings In corporate insolvency resolution processes involving real estate companies land authorities are crucial but currently they not represented in the Committee of Creditors. …

The Insolvency Code’s progress: From deep haircuts to fuller recoveries
1 month, 2 weeks ago

The Insolvency Code’s progress: From deep haircuts to fuller recoveries

Live Mint  

The Insolvency and Bankruptcy Code has long been associated with delays and financial creditors taking significant losses in high-profile corporate insolvencies. The National Company Law Appellate Tribunal dismissed challenges from competing bidders and upheld the resolution plan of Sarda Energy, ensuring full recovery for financial creditors. Similarly, in the more recent case of Sripriya Kumar, financial creditors received more than …

Buyers in possession of plot, flat or building must be given ownership: IBBI
1 month, 2 weeks ago

Buyers in possession of plot, flat or building must be given ownership: IBBI

Hindustan Times  

The Insolvency and Bankruptcy Board of India has proposed reforms to streamline the insolvency process for real estate companies and enhance protection for homebuyers. For thousands of buyers awaiting registration of housing units in projects undergoing the Bankruptcy resolution process, the IBBI has proposed that ownership of the plot, apartment or building should be transferred to buyers who are in …

The Forgotten Creditors: IBC's Dual Approach For Homebuyers And Other Consumers
3 months, 3 weeks ago

The Forgotten Creditors: IBC's Dual Approach For Homebuyers And Other Consumers

Live Law  

The Insolvency and Bankruptcy landscape in India underwent a significant transformation with the enactment of the Insolvency and Bankruptcy Code in 2016. Homebuyer as Financial Creditor| RERA-IBC Standoff Under the Insolvency and Bankruptcy Code 2016, creditors are categorized into two distinct groups: financial creditors, defined under Section 5, and operational creditors, defined under Section 5. The NCLAT also in the …

Weekly Digest Of IBC Cases: 22nd July 2024 To 28th July 2024
4 months, 3 weeks ago

Weekly Digest Of IBC Cases: 22nd July 2024 To 28th July 2024

Live Law  

Supreme Court IBC | CIRP Of Holding Company Cannot Include Subsidiary's Assets: Supreme Court Case no. Insolvency Resolution Of Corporate Guarantor Won't Bar Creditor From Filing CIRP Against Corporate Debtor For Balance Debt : Supreme Court Case Title: BRS Ventures Investments Ltd. 313 of 2024 The National Company Law Appellate Tribunal, Delhi bench of Justice Ashok Bhushan and Mr Barun …

Economic Survey: IBC has transformed credit market landscape for good
5 months ago

Economic Survey: IBC has transformed credit market landscape for good

Live Mint  

New Delhi: The Economic Survey lavished praise on the Insolvency and Bankruptcy Code, saying the 2016 law has had a profound impact on India's credit market landscape. It has helped reduce banks' stress by lowering bad loans, rescued failing corporate debtors, and revitalized distressed assets in the real sector, injecting fresh momentum into the financial markets' recovery segment, the Economic …

NCLT Kochi: Creditors Can't Initiate Insolvency Proceedings Against Personal Guarantor Without Establishing Independent Default By CD
5 months, 3 weeks ago

NCLT Kochi: Creditors Can't Initiate Insolvency Proceedings Against Personal Guarantor Without Establishing Independent Default By CD

Live Law  

The National Company Law Tribunal Kochi, comprising Justice T Krishna Valli and Mr. Shyam Babu Gautam dismissed the application to initiate insolvency proceedings against the Personal guarantors under Section 95 of Insolvency and Bankruptcy Code, 2016. It held that creditors cannot initiate insolvency proceedings against personal guarantors solely based on the initiation of the Corporate Insolvency Resolution Process without showcasing …

NCLT Asks IBBI To Incorporate Provisions In CIRP Regulations For Treating Transferred Winding-Up Cases
5 months, 4 weeks ago

NCLT Asks IBBI To Incorporate Provisions In CIRP Regulations For Treating Transferred Winding-Up Cases

Live Law  

The National Company Law Tribunal Principle Bench of Ramalingam Sudhakar and Avinash K. Srivastava has asked the Insolvency and Bankruptcy Board of India to amend the Corporate Insolvency Resolution Process regulations. This directive was issued by NCLT to address the handling of cases involving the winding up of companies that have been transferred to the NCLT under Section 433 of …

IBBI proposes amendments to insolvency rules; seeks public comments
6 months ago

IBBI proposes amendments to insolvency rules; seeks public comments

The Hindu  

The Insolvency and Bankruptcy Board of India has proposed amendments to the Insolvency Resolution Process for Corporate Process regulations, to enhance efficiency and reduce costs, and sought stakeholder inputs by July 10. These amendments are expected to enhance the efficiency and transparency of the Corporate Insolvency Resolution Process, and benefiting creditors and other stakeholders involved in the CIRP. Seeking comments …

Ambiguities In Uploading Of NCLT Orders, Requirement Of Enclosing Certified Copies With Appeal : Supreme Court Seeks IBBI Clarification
7 months, 2 weeks ago

Ambiguities In Uploading Of NCLT Orders, Requirement Of Enclosing Certified Copies With Appeal : Supreme Court Seeks IBBI Clarification

Live Law  

The Supreme Court issued notice to the Insolvency and Bankruptcy Board of India, inter-alia, on the requirement to obtain a certified copy of the order and attach the same with the appeal. The Bench of Justices Sanjiv Khanna and Dipankar Datta has issued notice considering that there is “considerable ambiguity” in certain issues concerning the service of the orders passed …

IBC Cases Quarterly Digest : January To March 2024
8 months, 2 weeks ago

IBC Cases Quarterly Digest : January To March 2024

Live Law  

Supreme Court Case Title: Ansal Crown Heights Flat Buyers Association V 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 Revolutionizes Corporate Insolvency
8 months, 3 weeks ago

IBC Revolutionizes Corporate Insolvency

Deccan Chronicle  

Exactly, 10 years ago, in the run-up to the 2014 Lok Sabha elections, Narendra Modi, who was the BJP’s prime ministerial candidate, had said that traders have more risk-taking capacity than soldiers. Several hundreds of companies and lakhs of employees have benefitted from a relatively easy resolution process devised by IBC.After seven years of IBC’s journey, corporate litigation and disputes …

IBBI Amends Regulations Regarding Insolvency Professionals w.e.f. 31st January 2024
10 months, 2 weeks ago

IBBI Amends Regulations Regarding Insolvency Professionals w.e.f. 31st January 2024

Live Law  

The Insolvency and Bankruptcy Board of India has amended the Insolvency and Bankruptcy Board of India Regulations, 2016, with effect from 31.01.2024. Explanation.- The insolvency professional shall continue to discharge his duties, functions and responsibilities till the approval of resignation by the Adjudicating Authority.” The Clause 23B of First Schedule of IP Regulations states that an Insolvency Professional shall not …

Monthly Digest Of IBC Cases: January 2024
10 months, 3 weeks ago

Monthly Digest Of IBC Cases: January 2024

Live Law  

Supreme Court Case Title: Ansal Crown Heights Flat Buyers Association V 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 …

Supreme Court Judgements On Insolvency & Bankruptcy Code In 2023
11 months, 3 weeks ago

Supreme Court Judgements On Insolvency & Bankruptcy Code In 2023

Live Law  

Sabka Vishwas Scheme: Supreme Court Grants Relief To Company Which Missed Deadline Due To IBC Moratorium The Supreme Court Bench comprising of Justices M R Shah and Justice B V Nagarathna has remarked that “No one can be expected to do the impossible” while granting relief to a company which could not avail the benefit of settlement of tax dues …

The SC’s ruling on personal debt guarantees will help unlock dead capital
1 year, 1 month ago

The SC’s ruling on personal debt guarantees will help unlock dead capital

Live Mint  

The adoption of the Insolvency and Bankruptcy Code in 2016 was one of the most important economic reforms of the past 10 years. Various earlier attempts, such as the very old Sick Industrial Companies Act, the SARFAESI law of 2003 and various debt recovery tribunals, had yielded unsatisfactory results. In the first five years of its operation, the value of …

SC Upholds Validity of Key Provisions of Insolvency and Bankruptcy Code
1 year, 1 month ago

SC Upholds Validity of Key Provisions of Insolvency and Bankruptcy Code

News 18  

The Supreme Court on Thursday upheld certain key provisions of the Insolvency and Bankruptcy Code amid the claim of several petitioners that that they are violative of fundamental rights like the right to equality of those against whom insolvency proceedings are initiated. A bench comprising Chief Justice D Y Chandrachud and justices J B Pardiwala and Manoj Misra decided as …

Supreme Court Upholds Constitutionality Of IBC Provisions Relating To Personal Guarantors; Says Adjudicatory Role Can't Be Read Into Sec 97
1 year, 1 month ago

Supreme Court Upholds Constitutionality Of IBC Provisions Relating To Personal Guarantors; Says Adjudicatory Role Can't Be Read Into Sec 97

Live Law  

In a significant judgment, the Supreme Court on Thursday upheld the constitutionality of the provisions of the Insolvency and Bankruptcy Code relating to Personal Guarantors' Insolvency Resolution, which were introduced through the amendments made in 2019.The Court held that these provisions cannot be held as unconstitutional for not affording. In a significant judgment, the Supreme Court on Thursday upheld the …

Regulator must clarify due clearance order in insolvencies
1 year, 1 month ago

Regulator must clarify due clearance order in insolvencies

New Indian Express  

The Supreme Court’s judgement in the Rainbow Papers case upsets the insolvency applecart in India. The court has rejected requests for a review of its earlier order passed in September 2022, where it said that government dues must get higher priority when distributing the proceeds of an insolvent and liquidated company. The order goes against the grain of insolvency law …

MCA Notification: Moratorium Under IBC Inapplicable To Agreements Under Convention & Protocol Relating To Aircraft, Aircraft Engines, Airframes And Helicopters
1 year, 2 months ago

MCA Notification: Moratorium Under IBC Inapplicable To Agreements Under Convention & Protocol Relating To Aircraft, Aircraft Engines, Airframes And Helicopters

Live Law  

The Ministry of Corporate Affairs, Government of India, has issued a notification dated 03.10.2023 published in the Gazette of India, intimating that Section 14 of the Insolvency and Bankruptcy Code, 2016 would be inapplicable to transactions, arrangements or agreements, under the Convention and the Protocol relating to aircraft, aircraft engines, airframes and helicopters. Brief Background On 16.11.2001, the Convention on …

IBBI Amends Insolvency Professional Regulations W.E.F. 18th September 2023
1 year, 2 months ago

IBBI Amends Insolvency Professional Regulations W.E.F. 18th September 2023

Live Law  

The Insolvency and Bankruptcy Board of India vide its notification dated 18.09.2023, has notified amendments to the Insolvency and Bankruptcy Board of India Regulations, 2016. The amended provisions are: “6 An individual enrolled with an insolvency professional agency as a professional member may make an application to the Board through the insolvency professional agency of which he is a member, …

Book on Insolvency and Bankruptcy Code 2016 launched
1 year, 3 months ago

Book on Insolvency and Bankruptcy Code 2016 launched

The Hindu  

Defaulter’s Paradise Lost- Demystifying the Insolvency and Bankruptcy Code, 2016, a book written by advocate Anant Merathia, was launched here on Friday. Mr. Merathia said the Insolvency and Bankruptcy Code 2016 was one of the unique legislations which had brought together in the same sphere of discussion, varied subjects such as business, economy, finance, commerce, law and a lot more. …

SC Issues Notice to Centre on Pleas Challenging Provisions of Insolvency and Bankruptcy Code
1 year, 5 months ago

SC Issues Notice to Centre on Pleas Challenging Provisions of Insolvency and Bankruptcy Code

News 18  

The Supreme Court on Monday agreed to hear a batch of petitions challenging various provisions of the Insolvency and Bankruptcy Code over claims that they are violative of fundamental rights like the right to equality of those against whom insolvency proceedings have been initiated. A bench comprising Chief Justice D Y Chandrachud and justices P S Narasimha and Manoj Misra …

“Misconceived, Not Maintainable”: NCLAT Delhi Dismisses Appeal Filed By IBBI
1 year, 10 months ago

“Misconceived, Not Maintainable”: NCLAT Delhi Dismisses Appeal Filed By IBBI

Live Law  

The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Rakesh Kumar Jain and Mr. Naresh Salecha, while adjudicating an appeal filed in Insolvency & Bankruptcy Board of India v GTL Infrastructure Ltd. & Ors., has dismissed an appeal filed by the Insolvency and Bankruptcy Board of India, challenging the dismissal of a Section 7 petition in a matter …

Bankruptcy resolutions expected to soar after Budget spells relief for RPs
1 year, 10 months ago

Bankruptcy resolutions expected to soar after Budget spells relief for RPs

Live Mint  

Liquidators in India, who are entrusted with winding up bankrupt companies, will no longer be prosecuted for failing to comply with income tax regulations. The Union Budget 2023 has decriminalized section 276A of the Income Tax Act which enabled criminal prosecution of a liquidator for failing to give notice of his/her appointment within 30 days or set aside amount or …

Ministry Of Corporate Affairs Invites Public Comments On Proposed Changes In IBC
1 year, 11 months ago

Ministry Of Corporate Affairs Invites Public Comments On Proposed Changes In IBC

Live Law  

The Ministry of Corporate Affairs, Government of India, has issued a circular inviting comments from the public on the changes proposed to be made in the Insolvency and Bankruptcy Code, 2016. Proposed Amendments In a circular issued on 18.01.2023, the Ministry of Corporate Affairs has proposed numerous changes in IBC, including the following: Mandatory to admit Section 7 application where …

All India Annual Digest Of IBC Cases-2022- Supreme Court, High Courts And Tribunals
1 year, 11 months ago

All India Annual Digest Of IBC Cases-2022- Supreme Court, High Courts And Tribunals

Live Law  

SUPREME COURT Supreme Court Declares Noida As An Operational Creditor Under The Insolvency And Bankruptcy Code, 2016 Case title: New Okhla Industrial Development Authority v Anand Sonbhadra Case No. The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan, Ms. Shreesha Merla and Mr. Naresh Salecha, while adjudicating an appeal has upheld that Corporate Insolvency Resolution Process …

Supreme Court Annual Digest 2022 - Insolvency and Bankruptcy Code (IBC) With Parallel Citations
1 year, 11 months ago

Supreme Court Annual Digest 2022 - Insolvency and Bankruptcy Code (IBC) With Parallel Citations

Live Law  

Insolvency andBankruptcy Code, 2016 - Appealchallenging NCLAT order which reversed the order of the NCLT wherein it hadheld that the application under Section 9 of the Insolvency and BankruptcyCode, 2016 was not time-barred - Allowed - The failure of the NCLAT as thefirst appellate authority to look into a very vital aspect such as this,vitiates its order, especially when NCLT …

Why India's bankruptcy regime needs to be fixed
1 year, 11 months ago

Why India's bankruptcy regime needs to be fixed

Live Mint  

New Delhi: The government is proposing to make changes to India’s six-year-old Insolvency and Bankruptcy Code. It was introduced with the objective of simplifying insolvency and bankruptcy proceedings, protecting the interests of all stakeholders — the company, employees, debtors, and especially, creditors—and for timely revival of the company. 25,000 in line for Flipkart’s $700 mn Esop cash bonanza Reforms set …

Supreme Court Quarterly Digest on IBC [July - September, 2022]
2 years, 1 month ago

Supreme Court Quarterly Digest on IBC [July - September, 2022]

Live Law  

Insolvency and Bankruptcy Code 2016 - There can be no dispute with the proposition that the period of limitation for making an application under Section 7 or 9 of the IBC is three years from the date of accrual of the right to sue, that is, the date of default. State Tax Officer v. Rainbow Papers Ltd., 2022 LiveLaw 743 …

IBBI Notifies Second Amendment To Insolvency Professional Regulations
2 years, 3 months ago

IBBI Notifies Second Amendment To Insolvency Professional Regulations

Live Law  

The Insolvency and Bankruptcy Board of India has amended the IBBI Regulations, 2016 for a second time and has notified the amendment on 13.09.2022. The amendment has added Clause 26A to the IP Regulations which states that an Insolvency Professional shall not accept /share any fees or charges from any professional and/or support service provider who are appointed under the …

Supreme Court Half Yearly Digest 2022 (Jan - Jun) Insolvency and Bankruptcy Code, 2016
2 years, 3 months ago

Supreme Court Half Yearly Digest 2022 (Jan - Jun) Insolvency and Bankruptcy Code, 2016

Live Law  

Companies Act, 1956 - Insolvency and Bankruptcy Code, 2016 - Appeal against NCLAT order which dismissed appeals against NCLT order denying relief to appellant workmen/employees with regard to their claim relating to salary, which they claimed for the period involving CIRP- Partly allowed - That the wages/salaries of the workmen/employees of the Corporate Debtor for the period during CIRP can …

Insolvency and Bankruptcy Code To Take Precedence Over Customs Act: SC
2 years, 3 months ago

Insolvency and Bankruptcy Code To Take Precedence Over Customs Act: SC

News 18  

The Supreme Court on Friday held that the Insolvency and Bankruptcy Code will take precedence over the Customs Act. CJI Ramana, while pronouncing the judgment, said Customs authorities have only limited jurisdiction to assess the quantum and they cannot take steps to recover the dues, once the moratorium under IBC is declared, the report added. “Thus, this will help in …

Insolvency And Bankruptcy Code Will Prevail Over Customs Act Once Moratorium Is Declared: Supreme Court
2 years, 3 months ago

Insolvency And Bankruptcy Code Will Prevail Over Customs Act Once Moratorium Is Declared: Supreme Court

Live Law  

The Supreme Court had held that the Insolvency and Bankruptcy Code will prevail over the Customs Act. The court held thus: The IBC would prevail over The Customs Act, to the extent that once moratorium is imposed in terms of Sections 14 or 33 of the IBC as the case may be, the respondent authority only has 35 a limited …

Bankruptcy Code Dilemma and Challenges
2 years, 5 months ago

Bankruptcy Code Dilemma and Challenges

Live Law  

It Is Time For The Stakeholders And Authorities To Go Back And Analise And Not To Change The Board Recent detailed order of June 13, 2022 of NCLT Allahabad in the matter of Rathi Graphic Technologies Limited Vs Rajkumar Rathi and Others, has tried to open up debate on appropriateness of the law introduced through the provisions of the Insolvency …

IBC Cases Weekly Round Up: 20 June To 26 June, 2022
2 years, 5 months ago

IBC Cases Weekly Round Up: 20 June To 26 June, 2022

Live Law  

NCLAT Case Title: Prashant Agarwal v Vikash Parasprampuria Case No. 690 of 2022 The National Company Law Appellate Tribunal, New Delhi Bench, comprising of Justice M. Venugopal and Shri Kanthi Narahari, has stayed the constitution of the Committee of Creditors in the Corporate Insolvency Resolution Process of Bombay Rayon Fashions Ltd. : CP No.1337/MB/2020 The National Company Law Tribunal, Mumbai …

Bettering Results : Partners From Top Law Firms Teach The Insolvency & Bankruptcy Code, 2016: Register Now!
2 years, 6 months ago

Bettering Results : Partners From Top Law Firms Teach The Insolvency & Bankruptcy Code, 2016: Register Now!

Live Law  

The Insolvency and Bankruptcy Code, 2016 is one of the most significant economic reforms implemented by the Indian government in recent years. Bettering Results is here to help you gain detailed knowledge and understanding from both theoretical and practical standpoints with the help of Top IBC Lawyers and leading insolvency professionals. Through this Certificate Course & Mentorship Program on "Insolvency …

Insolvency Law in Review – February & March 2022
2 years, 6 months ago

Insolvency Law in Review – February & March 2022

Live Law  

The enactment of the Insolvency and Bankruptcy Code 2016 has had significant ramifications on the corporate insolvency landscape. In Jet Aircraft Maintenance Engineers Welfare Association v. Shri Ashish Chhawchharia Resolution Professional for Jet Airways Ltd. & Others, the NCLAT, New Delhi held that the provision of moratorium under Section 14 of the Code and the provision of Regulation 29 of …

Supreme Court Quarterly Digest 2022- IBC (January - March)
2 years, 6 months ago

Supreme Court Quarterly Digest 2022- IBC (January - March)

Live Law  

Insolvency and Bankruptcy Code, 2016 - Appeal challenging NCLAT order which reversed the order of the NCLT wherein it had held that the application under Section 9 of the Insolvency and Bankruptcy Code, 2016 was not time-barred - Allowed - The failure of the NCLAT as the first appellate authority to look into a very vital aspect such as this, …

IBBI Rescinds Its Previous Circulars
2 years, 6 months ago

IBBI Rescinds Its Previous Circulars

Live Law  

The Insolvency and Bankruptcy Board of India vide its circular dated 23.05.2022 has rescinded various earlier circulars issued by IBBI by exercising its power under Section 196 of the Insolvency and Bankruptcy Code, 2016. As per circular dated 23.05.2022, IBBI conducted an exercise of review of its circulars and withdrew its earlier circulars as these circulars are no longer required …

Supreme Court Issues Notice On Plea Challenging Constitutionality Of IBC Provisions Relating To Personal Guarantors
2 years, 7 months ago

Supreme Court Issues Notice On Plea Challenging Constitutionality Of IBC Provisions Relating To Personal Guarantors

Live Law  

The Supreme Court has issued notice on a petition filed by a personal guarantor which raises a constitutional challenge to the personal insolvency provisions under the Insolvency & Bankruptcy Code, 2016. Since a similar issue is pending, the Court has directed to tag the present case along with the pending Special Leave Petition No. 16464 of 2021 The personal guarantor …

Weekly Digest Of IBC Cases: 25th April To 1st May, 2022
2 years, 7 months ago

Weekly Digest Of IBC Cases: 25th April To 1st May, 2022

Live Law  

Insolvency and Bankruptcy Code Is Not For Money Recovery Proceedings: Supreme Court Reiterates Case Title: Invest Asset Securitisation and Reconstruction Pvt. 583/2021 National Company Law Appellate Tribunal Principal Bench comprising of Justice Ashok Bhushan, Dr. Alok Srivastava and Ms. Shreesha Merla, has held that the look back period prescribed under Section 46 of Insolvency & Bankruptcy Code, 2016 does not …

IBBI Notifies The Amended Insolvency And Bankruptcy Board Of India (Voluntary Liquidation Process) Regulations, 2017
2 years, 8 months ago

IBBI Notifies The Amended Insolvency And Bankruptcy Board Of India (Voluntary Liquidation Process) Regulations, 2017

Live Law  

The Insolvency and Bankruptcy Board of India has issued a Press Release on 08.04.2022 notifying the public that amendments have been made to Insolvency and Bankruptcy Board of India Regulations, 2017. Therefore, in order to curtail such delays and ensure faster exit for firms, amendments have been made to modify the timelines for activities undertaken during the voluntary liquidation process. …

Insolvency Law In Review – January 2022
2 years, 8 months ago

Insolvency Law In Review – January 2022

Live Law  

The enactment of the Insolvency and Bankruptcy Code 2016 has had significant ramifications on the corporate insolvency landscape. In State Bank of India v. Mahendra Kumar Jajodia, the NCLAT, New Delhi held that the National Company Law Tribunal, Kolkata erred in holding that since no corporate insolvency resolution process or liquidation proceeding of the corporate debtor were pending, the application …

Guarantor Whose Guarantee Stands Invoked By Any Creditor Barred Under Section 29A(h) IBC: Supreme Court
2 years, 11 months ago

Guarantor Whose Guarantee Stands Invoked By Any Creditor Barred Under Section 29A(h) IBC: Supreme Court

Live Law  

The Supreme Court has delivered an important judgment interpreting the scope of Section 29A of the Insolvency and Bankruptcy Code. Section 29A IBC specifies the categories of persons who are not eligible to be resolution applicants.Sub-section of Section 29A refers to persons whose guarantees stand invoked by the creditors of the corporate debtor. Adopting a "purposive interpretation" of the provision, …

RFMLR-IBBI Blog Series Competition On Evolving Dynamics Of The Insolvency Regime In India [Submit by January 15, 2022]
3 years ago

RFMLR-IBBI Blog Series Competition On Evolving Dynamics Of The Insolvency Regime In India [Submit by January 15, 2022]

Live Law  

About Rajiv Gandhi National University of Law: The Rajiv Gandhi National University Of Law, Patiala Is An Autonomous National Law University That Was Established In 2006 And Has Garnered A Pan-India Reputation As A Stellar Institution For Legal Research And Education. The Blog Series Competition aims to further discourse on the practical and critical challenges faced by the insolvency regime …

𝙸𝚄𝚁𝙸𝚂 𝙹𝚄𝚁𝙰: 5 – Day Live Lecture Series On "IBC (Insolvency And Bankruptcy Code) 2016"
3 years ago

𝙸𝚄𝚁𝙸𝚂 𝙹𝚄𝚁𝙰: 5 – Day Live Lecture Series On "IBC (Insolvency And Bankruptcy Code) 2016"

Live Law  

About The Organization Iuris Jura started in the year 2020, aiming to create legal awareness and provides learning related to the law topics. About The 4 – Day Live Lecture Series 𝙸𝚄𝚁𝙸𝚂 𝙹𝚄𝚁𝙰 takes immense pride in announcing that we are organizing a 5 Day - Live Lecture Series on •"IBC 2016 ". Section 10, 238 and 95 of IBC …

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