Insolvency and Bankruptcy Code

Blog, News, Insolvency and Bankruptcy Code

September 8, 2022

Expression of OTS by corporate debtor amounts to an acknowledgement of debt, CIRP against guarantor was valid: NCLAT

Case Details: Bijay Kumar Agarwal … Continue reading “Expression of OTS by corporate debtor amounts to an acknowledgement of debt, CIRP against guarantor was valid: NCLAT”

Blog, News, Insolvency and Bankruptcy Code

September 6, 2022

Only CoC is empowered to deal with replacement of RP, creditor can’t prefer an application before AA

Case Details: Veeral Controls (P.) … Continue reading “Only CoC is empowered to deal with replacement of RP, creditor can’t prefer an application before AA”

Blog, News, Insolvency and Bankruptcy Code

September 3, 2022

Corporate debtor engaged in financial services was out of ambit of ‘corporate person’: NCLT

Case Details: Mrs Parveen Chawla … Continue reading “Corporate debtor engaged in financial services was out of ambit of ‘corporate person’: NCLT”

Blog, News, Insolvency and Bankruptcy Code

September 2, 2022

IBBI hikes the examination fee for Limited Insolvency & Valuation Examinations

IBBI Circular No. IBBI/EXAM/52/2022 Dated: … Continue reading “IBBI hikes the examination fee for Limited Insolvency & Valuation Examinations”

Blog, News, Insolvency and Bankruptcy Code

September 2, 2022

RP didn’t violate IBC by entering into settlement pact without distributing sales proceeds

Case Details: Anil Kohli, In … Continue reading “RP didn’t violate IBC by entering into settlement pact without distributing sales proceeds”

Blog, News, Insolvency and Bankruptcy Code

August 30, 2022

Liquidator’s commercial wisdom is not open to judicial review: SC

Case Details: R.K. Industries (Unit-II) … Continue reading “Liquidator’s commercial wisdom is not open to judicial review: SC”

News, Blog, Insolvency and Bankruptcy Code

August 27, 2022

Group of MSMEs can converge for the limit of 1 Cr to initiate CIRP under IBC: HC

Case Details: Vishnu Oil Mill … Continue reading “Group of MSMEs can converge for the limit of 1 Cr to initiate CIRP under IBC: HC”

Blog, News, Insolvency and Bankruptcy Code

August 25, 2022

CIRP plea filed within 3 years from issuance of recovery certificate by banker was well within limitation period: NCLAT

Case Details: Canara Bank v. … Continue reading “CIRP plea filed within 3 years from issuance of recovery certificate by banker was well within limitation period: NCLAT”

Blog, News, Insolvency and Bankruptcy Code

August 23, 2022

Threshold limit of Rs. 1 Cr is for CIRP pleas filed on or after 24-3-2020: NCLAT

Case Details: Metal’s & Metal … Continue reading “Threshold limit of Rs. 1 Cr is for CIRP pleas filed on or after 24-3-2020: NCLAT”

Blog, News, Insolvency and Bankruptcy Code

August 18, 2022

Financial Creditor bank can’t be directed to positively grant benefit of one-time settlement to corporate debtor: NCLAT

Case Details: Sanjeev Mahajan v. … Continue reading “Financial Creditor bank can’t be directed to positively grant benefit of one-time settlement to corporate debtor: NCLAT”