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Articles for Ibc, search results for delay

IBC data provides valuable insights to handle complex cases: M Rajeshwar Rao, Dy Governor RBI
5 days, 15 hours ago

IBC data provides valuable insights to handle complex cases: M Rajeshwar Rao, Dy Governor RBI

Live Mint  

While acknowledging the substantial progress made in cleaning up banks' balance sheets, the Deputy Governor also underscored potential areas of improvement.The event brought together distinguished experts and practitioners from across jurisdictions to share insights and experiences in insolvency resolution.Suggesting the need to improve the overall resolution ecosystem, RBI DG stated that a better understanding of the reasons behind defaults are …

Resolution Rbi Valuation Ibc
Condonation Of Delay Is Case Specific, No Inflexible Rule Can Be Laid Down To Condone Delay U/S 61 Of IBC: NCLAT
1 month, 2 weeks ago

Condonation Of Delay Is Case Specific, No Inflexible Rule Can Be Laid Down To Condone Delay U/S 61 Of IBC: NCLAT

Live Law  

The NLCAT New Delhi bench of Justice Ashok Bhushan, Barun Mitra and Arun Baroka affirmed that the condonation of delay in filing of the Appeal is on facts of each case, no inflexible rule can be laid down while exercising jurisdiction to condone the delay. The Applicant states that he was unable to file the present Appeal against the order …

Jurisdiction Appeal Order Case Tribunal Filing Five Days
HNG case and CCI: Regulatory norms flouted to delay IBC process
6 months, 2 weeks ago

HNG case and CCI: Regulatory norms flouted to delay IBC process

Op India  

Liberalised economies have the potential to unleash the potential of industries and businesses, however, that potential can only be realised when these markets are fair and competitive. In this case, the CCI approval of the AGI plan was necessary because the combination of AGI and HNG would create a monopolistic market, owing to the two companies being number 1 and …

Finance India Kolkata Market Resolution Competition Regulatory
NCLT Mumbai: Operational Debt Under IBC Does Not Include Penalty Or Liquidated Damages
7 months, 1 week ago

NCLT Mumbai: Operational Debt Under IBC Does Not Include Penalty Or Liquidated Damages

Live Law  

The National Company Law Tribunal Mumbai, comprising Shri K.R. NCLT Verdict: The NCLT Mumbai rejected the CIRP petition and held that the operational debt under IBC does not include penalty or liquidated damages. Further, the claim doesn't relate to goods or services provided by the Operational Creditor to the Corporate Debtor but rather pertains to recovering penalties/liquidated damages due to …

Mumbai Corporate Penalty Operational Debt Tribunal Nclt
Claim Cannot Be Admitted After The Approval Of Resolution Plan By The CoC Even If Approval By The Adjudicating Authority U/S 31 Of IBC Is Pending: NCLT Mumbai
7 months, 2 weeks ago

Claim Cannot Be Admitted After The Approval Of Resolution Plan By The CoC Even If Approval By The Adjudicating Authority U/S 31 Of IBC Is Pending: NCLT Mumbai

Live Law  

The National Company Law Tribunal, Mumbai Bench, comprising Mr. Kuldip Kumar Kareer and Mr. Anil Raj Chellan has held that claims cannot be admitted after the approval of the resolution plan by the Committee of Creditors even if approval by the Adjudicating Authority under section 31 of the Insolvency and Bankruptcy Code, 2016 is pending. In November 2021, Mr. Jai …

Resolution Resolution Plan Respondent Plan Nclt Approval Kumar
Annual Digest of Arbitration Cases 2023- Supreme Court And High Courts (Part-1)
11 months, 2 weeks ago

Annual Digest of Arbitration Cases 2023- Supreme Court And High Courts (Part-1)

Live Law  

Supreme Court Arbitration Clauses In Unstamped Agreements Enforceable : Supreme Court 7-Judge Bench Overrules 'NN Global' Decision Case Title: In Re Interplay Between Arbitration Agreements Under The Arbitration And Conciliation Act 1996 And The Indian Stamp Act 1899 Curative Pet No. Besides the uncertainties listed above, the 10,000 MTs of Met Coke has admittedly not been sold till date and …

India Justice Delhi Supreme Court High Court Arbitration Court
IBC | When Matter Heard On A Particular Date But Order Pronounced Later, NCLT Not To Affix Date Of Hearing On Order: Supreme Court
1 year ago

IBC | When Matter Heard On A Particular Date But Order Pronounced Later, NCLT Not To Affix Date Of Hearing On Order: Supreme Court

Live Law  

The Supreme Court has held that when a matter is heard by the National Company Law Tribunal on a particular date but the order is pronounced on another date, then NCLT must refrain from affixing the date of hearing on the order. The Appellant filed an appeal against the NCLT order before National Company Law Appellate Tribunal under Section 61 …

Supreme Court Appeal Cases Corporate Debtor Order Limitation Hearing
NCLT Hyderabad: NCLT Cannot Exercise Inherent Powers To Condone Delay Under Section 42 Of IBC When There Is A Clear Statutory Bar
1 year, 3 months ago

NCLT Hyderabad: NCLT Cannot Exercise Inherent Powers To Condone Delay Under Section 42 Of IBC When There Is A Clear Statutory Bar

Live Law  

The National Company Law Tribunal, Hyderabad comprising of Justice Smt. The Tribunal held that it cannot exercise its inherent powers to condone delay when there is a clear statutory bar in entertaining an appeal filed beyond the period prescribed under the Code. Contentions of the Liquidator: The Liquidator relied upon the Supreme Court case of National Spot Exchange Ltd. vs. …

Hyderabad Appeal Applicant Case Delay Tribunal Nclt
IBC- Admitting Claims After Resolution Plan Has Been Accepted By COC Would Make CIRP An Endless Process: Supreme Court
1 year, 3 months ago

IBC- Admitting Claims After Resolution Plan Has Been Accepted By COC Would Make CIRP An Endless Process: Supreme Court

Live Law  

The Supreme Court on Monday said that admitting claims after the Resolution Plan has been accepted by the Committee of Creditors under Insolvency and Bankruptcy Code, 2016 even though the Adjudicating Authority has yet to approve the plan, would make the Corporate Insolvency Resolution Process an endless process. The Apex Court was considering whether the claim pertaining to an arbitral …

Supreme Court Corporate Court Resolution Plan Plan Claim Award
Delay In Filing Of Appeal Under Section 42 Of IBC Is Condonable Under Section 5 Of Limitation Act: NCLAT Delhi
1 year, 6 months ago

Delay In Filing Of Appeal Under Section 42 Of IBC Is Condonable Under Section 5 Of Limitation Act: NCLAT Delhi

Live Law  

The National Company Law Appellate Tribunal, New Delhi Bench, comprising of Justice Ashok Bhushan and Shri Barun Mitra, while adjudicating an appeal filed in Canara Bank v Commercial Tax Department Circle 09, Indore, Madhya Pradesh & Anr., has held that delay in filing the Appeal under Section 42 of IBC is condonable in exercise of power under Section 5 of …

Appeal Tax Limitation Act Delay Department Nclt Act
Proposed Regulatory Framework To Curb The Problem Of Delays In CIRP
1 year, 7 months ago

Proposed Regulatory Framework To Curb The Problem Of Delays In CIRP

Live Law  

The Insolvency and Bankruptcy Code, 2016 came into force on 28th May 2016, with the objective to “consolidate and amend the laws relating to reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximisation of value of assets of such persons.” The Code also provides for the establishment of the Insolvency and …

Regulations Competition Act Interpretation Nclt Sebi Code Framework
No Scope For Condonation Of Delay Beyond 15 Days, Much Less 45 Days: NCLAT Delhi
1 year, 8 months ago

No Scope For Condonation Of Delay Beyond 15 Days, Much Less 45 Days: NCLAT Delhi

Live Law  

The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Rakesh Kumar Jain and Shri Naresh Salecha, while adjudicating an appeal filed in Diwakar Sharma v Anand Sonbhadra, has held that there is no scope for condonation of delay beyond the period of 15 days much less 45 days, as there is no window available for NCLAT to exercise …

Appeal Corporate Debtor Order Delay Period Bench Nclat
IBC - Delay In Filing CIRP Application Condonable On Sufficient Reasons : Supreme Court
1 year, 11 months ago

IBC - Delay In Filing CIRP Application Condonable On Sufficient Reasons : Supreme Court

Live Law  

The Supreme Court observed that delay in initiating Corporate Insolvency Resolution Process is condonable on sufficient grounds.The bench of Justices Ajay Rastogi and C T Ravikumar noted that the Limitation Act, 1963 are applicable to applications filed under Sections 7 and 9 of IBC. Referring to earlier judgments in Babulal Vardharji Gurjar v. Veer Gurjar Aluminium Industries Private Limited 15 …

Supreme Court Dispute Court Application Limitation Cause Period
Does Limitation Period For Filing Appeal Applies To Period For Curing Defects?: NCLAT Refers Question To Larger Bench
2 years, 3 months ago

Does Limitation Period For Filing Appeal Applies To Period For Curing Defects?: NCLAT Refers Question To Larger Bench

Live Law  

The National Company Law Appellate Tribunal, Principal Bench, comprising of Justice Ashok Bhushan, Justice N Satyanarayana Murthy and Mr. Barun Mitra, while adjudicating in an appeal filed in Mr. V R Ashok Rao v TDT Copper Limited, has observed that issue of delay in refilling of appeal is often coming before the NCLAT Bench for consideration. Accordingly, the NCLAT Bench …

Appeal Limitation Delay Tribunal Filing Fresh Ibc
S.7(5)(b) IBC | Provision To Notify Financial Creditor Before Rejecting Claim Extends To Appeals Before NCLAT: Supreme Court
2 years, 4 months ago

S.7(5)(b) IBC | Provision To Notify Financial Creditor Before Rejecting Claim Extends To Appeals Before NCLAT: Supreme Court

Live Law  

The Supreme Court has that provision of Section 7 of the Insolvency and Bankruptcy Code, 2016, which requires the Adjudicating Authority to notify the Financial Creditor before rejection of a claim, would be applicable to appeals as well, since appeal is the continuation of original proceedings. A Bench comprising Justices Indira Banerjee and J.K. Maheshwari allowed an appeal filed by …

Corporate Court Bank Application Debt Limitation Act Limitation
Supreme Court Weekly Round Up: July 17 To July 23, 2022
2 years, 4 months ago

Supreme Court Weekly Round Up: July 17 To July 23, 2022

Live Law  

Supreme Court Judgements Opportunity Of Hearing Not Required To Be Afforded To Army Officers Before Suspending Them Pending Court Of Inquiry : Supreme Court Case Stat: Col. Vineet Raman Sharda vs Union of India | 2022 LiveLaw 606 The Supreme Court observed that opportunity of hearing is not required to be afforded to army officers before suspending them pending the …

India Madhya Pradesh High Court Karnataka Tamil Nadu Kerala Delhi Supreme Court
Supreme Court Weekly Round Up : May 30 - June 3,2022
2 years, 6 months ago

Supreme Court Weekly Round Up : May 30 - June 3,2022

Live Law  

Supreme Court Judgements Case Title: Levaku Pedda Reddamma vs Gottumukkala Venkata Subbamma | CA 4096 OF 2022 Citation: 2022 LiveLaw 533 The Supreme Court observed that refusing permission to a party in a civil suit to produce additional documents even if there is some delay will lead to denial of justice. As such, the holder of such certificate would be …

Supreme Court High Court Constitution Court Public Interest National Order
Limitation Period For Appeal Under Section 61 IBC Starts Running From Date Of Pronouncement; Delay In Uploading Won't Exclude Limitation : Supreme Court
3 years, 2 months ago

Limitation Period For Appeal Under Section 61 IBC Starts Running From Date Of Pronouncement; Delay In Uploading Won't Exclude Limitation : Supreme Court

Live Law  

The Supreme Court has held that the period of limitation for filing of appeal against an order as per Section 61 of the Insolvency and Bankruptcy Code will start running as soon as the same is pronounced, and that it is not dependent on the date when the order is uploaded.So, a party who failed to file an application for …

Supreme Court Appeal Court Application Limitation Tribunal Period
NCLAT Has No Jurisdiction To Condone Delay Exceeding 15 Days From Period Of 30 Days, Contemplated U/s 61(2) IBC: Supreme Court
3 years, 3 months ago

NCLAT Has No Jurisdiction To Condone Delay Exceeding 15 Days From Period Of 30 Days, Contemplated U/s 61(2) IBC: Supreme Court

Live Law  

The Supreme Court observed that the National Company Law Appellate Tribunal has no jurisdiction to condone the delay exceeding 15 days from the period of 30 days, as contemplated under Section 61 of the Insolvency and Bankruptcy Code.In this case, referring to sub-section of Section 61 of the IBC which provides for powers to the Appellate Tribunal to condone the …

Supreme Court Appeal Constitution Delay Tribunal Period 30 Days
IBC - The Journey So Far – Part I
3 years, 4 months ago

IBC - The Journey So Far – Part I

Live Law  

This write up trace evolution of jurisprudence and short legal history under Insolvency and Bankruptcy Code, 2016. The system also envisaged time bound admission and disposal of application by the judicial authority namely National Company Law Tribunals. Resolution Under IBC& Recovery for Banks : As per the statistic under the Economic Survey 2020-2021 Report, the Code has rescued 308 CDs …

Law Insolvency Resolution Cases Tribunals Commercial Resolution Plan
Whether It Is Mandatory To File A Formal Application For Condonation Of Delay? An Examination Of SC Judgement In Sesh Nath Sing's Case
3 years, 7 months ago

Whether It Is Mandatory To File A Formal Application For Condonation Of Delay? An Examination Of SC Judgement In Sesh Nath Sing's Case

Live Law  

in the context of the aforesaid issue. Eventually, a Writ Petition was filed by the said Respondent in the Patna High Court that held that the appeal before the Additional Collector ought to have been dismissed on the ground of limitation "as no application was filed for condonation of delay as contemplated by Section 5 of the Limitation Act." The …

Supreme Court Appeal Constitution Court Application Order Limitation
'The Unfinished Agenda': Viral Acharya on the Need For a 'Concrete' Plan to Restore the Health of PSBs
4 years, 4 months ago

'The Unfinished Agenda': Viral Acharya on the Need For a 'Concrete' Plan to Restore the Health of PSBs

News 18  

Former RBI deputy governor Viral Acharya's latest book, Quest For Restoring Financial Stability In India, uses the Japanese asset price bubble burst of 1992 and the European debt crisis, and their subsequent impacts on the respective banking sectors as lessons for the Indian banking sector, which, according to Acharya is going through a 'silent crisis'. In the book, Acharya first …

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