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May 13, 20243 min read
Disbursal Against Time Value of Money: Understanding Financial Debt Under IBC
NCLAT's recent judgment on financial debt under IBC emphasizes the need for transparency and solid evidence in insolvency disputes.
May 9, 20249 min read
PUFE Transactions Under IBC
Explore how the IBC transforms insolvency with strict PUFE transaction laws, ensuring creditor rights and integrity in proceedings.
May 7, 20242 min read
Clarifying Eligibility: NCLAT’s Ruling on Wilful Defaulters in Resolution Proceedings
NCLAT clarifies eligibility of wilful defaulters in CIRP, balancing creditor rights and corporate revival amidst legal complexities.
May 3, 20243 min read
Third-party Assets not liable to be included in the CIRP Process initiated against the Corporate Debtor
NCLAT rules that third-party assets in possession of a corporate debtor can't be included in CIRP without a valid contract.
Apr 30, 20243 min read
Legislation by Incorporation v. Legislation by Reference: Supreme Court Explains the Jurisdiction of Special Courts
SC rules on Special Courts' jurisdiction, outlining key distinctions in legislative incorporation and reference.
Apr 30, 20243 min read
Customs v. IBC: Who controls confiscated assets?
NCLAT rules on asset control in insolvency, balancing customs authority and IBC mandates.
Apr 27, 20249 min read
Cooperating with Resolution Professionals: A Cornerstone of Effective Resolution
Explore how Section 19 of the IBC mandates key cooperation for effective insolvency resolution, impacting all stakeholders involved.
Apr 27, 20242 min read
Bombay High Court Prohibits Issuance of S. 148 Tax Notices Following Approval of Corporate Resolution Plans
Bombay HC declares S. 148 notices void post-resolution, ensuring clean slates for companies under new management.
Apr 18, 20243 min read
Cannot Initiate CIRP When a Pre-existing Dispute Exists: NCLAT
Introduction In a judgment titled Akbar Travels of India Pvt. Ltd. v. Ritco Travels & Travels Pvt Ltd[i], the National Company Law...
Apr 14, 20244 min read
NCLAT Holds That the Tribunal Has the Power to Recall but Not to Review Its Own Judgment
Explore how NCLAT distinguishes between recall and review powers, affirming strict limits on tribunal interventions.
Apr 12, 20242 min read
Legal Implications of CIRP: Agency Duties and Corporate Debtor Responsibilities
Explore how agency roles affect CIRP outcomes in the Mukund Rajhans case—a pivotal legal study on corporate debt and insolvency.
Apr 11, 20244 min read
Bombay High Court’s Ruling on IBBI’s Circular: Safeguarding Due Process and Clarity in LP Regulations
Bombay High Court rules on IBBI’s Circular, safeguarding due process in LP regulations.
Apr 10, 20244 min read
[SC] Guarantors Failing to Pay Invoked Guarantees Barred From Filing Claims as Financial Creditors
The Supreme Court: Guarantors with unpaid guarantees cannot claim as financial creditors under the IBC.
Apr 8, 20242 min read
NCLAT Rules on Creditor Fairness in Insolvency, Mandating Cash Payments Over Shares for Operational Creditors
NCLAT enforces strict adherence to cash payments for operational creditors, highlighting statutory compliance in insolvency resolutions.
Mar 25, 20243 min read
Legal Oasis: Bombay High Court affirms Clean Slate Principle in Resolution Plan Approval
Introduction The Hon’ble Bombay High Court (‘BHC’), in its recent judgment in Shirdi Industries Ltd. v. Art Studio[i], addressed an...
Mar 18, 20243 min read
NCLAT Dismisses the Application Filed Under S. 9 of the IBC: Pre-Existing Dispute at the Forefront
NCLAT rules on the importance of resolving disputes before filing under s. 9 of the IBC.
Mar 14, 20243 min read
Supreme Court Reiterates: No Withdrawal is Permitted for Resolution Plans Once Approved by the Committee of Creditors
SC enforces strict adherence to CoC-approved Plans, barring unilateral withdrawals except in cases of fraud.
Mar 11, 20244 min read
Bombay High Court Clarifies the Interplay between IBC and PMLA in Asset Release Post CIRP
Introduction In a landmark ruling, the Hon’ble Bombay High Court ( ‘HC’ ) addressed a pivotal issue concerning the interplay between the...
Feb 29, 20243 min read
ITAT Kolkata Affirms IBC's Overriding Effect on Income Tax Proceedings
ITAT rules IBC's moratorium halts all tax proceedings during corporate insolvency processes.
Feb 19, 20243 min read
IBBI Amends 2016 Regulations to Streamline Insolvency Resolution Process
Introduction The Insolvency and Bankruptcy Board of India (‘IBBI’) through Press Release[i], has recently implemented substantial...