Insolvency and Bankruptcy Code

News, Blog, Insolvency and Bankruptcy Code

May 28, 2022

Fact that liquidation value is more than enterprise value couldn’t be a ground to liquidate a corporate debtor: NCLT

Case Details: Ramsarup Industries Ltd., … Continue reading “Fact that liquidation value is more than enterprise value couldn’t be a ground to liquidate a corporate debtor: NCLT”

Blog, News, Insolvency and Bankruptcy Code

May 27, 2022

Extra amount received by financial creditors from a resolution applicant was to be refunded to appellant: NCLAT

Case Details: Synergy Technologies v. … Continue reading “Extra amount received by financial creditors from a resolution applicant was to be refunded to appellant: NCLAT”

Blog, News, Insolvency and Bankruptcy Code

May 26, 2022

RP’s role is limited to make appropriate recommendations to AA

Case Details: Babu A. Dhammanagi … Continue reading “RP’s role is limited to make appropriate recommendations to AA”

Blog, News, Insolvency and Bankruptcy Code

May 25, 2022

IBBI rescinds 7 circulars issued under the IBC on account of duplicity

Circular no. No. IBBI/CIRP/3/2022, Dated: … Continue reading “IBBI rescinds 7 circulars issued under the IBC on account of duplicity”

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May 24, 2022

NCLT rightly admitted CIRP plea as forensic audit report of corporate debtor confirmed acknowledgment of debt

  Case Details: Avneesh Kumar … Continue reading “NCLT rightly admitted CIRP plea as forensic audit report of corporate debtor confirmed acknowledgment of debt”

News, Blog, Insolvency and Bankruptcy Code

May 24, 2022

‘NOIDA’ is not a financial creditor: SC rules

[2022] 138 taxmann.com 393 (Article) … Continue reading “‘NOIDA’ is not a financial creditor: SC rules”

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May 21, 2022

CIRP plea was rightly rejected as corporate debtor pointed out deficiencies in work prior to issuance of demand notice

Case Details: R.K.& Associates v. … Continue reading “CIRP plea was rightly rejected as corporate debtor pointed out deficiencies in work prior to issuance of demand notice”

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May 20, 2022

Unqualified acknowledgment of debt in the balance sheet extends period of limitation for filing of CIRP: Reiterates SC

Case Details: State Bank of … Continue reading “Unqualified acknowledgment of debt in the balance sheet extends period of limitation for filing of CIRP: Reiterates SC”

Blog, News, Insolvency and Bankruptcy Code

May 19, 2022

NOIDA isn’t a financial creditor under IBC for leasing of a plot with a restrictive clause

Case Details: New Okhla Industrial … Continue reading “NOIDA isn’t a financial creditor under IBC for leasing of a plot with a restrictive clause”

Blog, News, Insolvency and Bankruptcy Code

May 18, 2022

Payments made to vendors after passing of the CIRP order were barred: NCLAT

Case Details: PJ Network (P.) … Continue reading “Payments made to vendors after passing of the CIRP order were barred: NCLAT”