Insolvency and Bankruptcy Code

Blog, News, Insolvency and Bankruptcy Code

October 21, 2021

CIRP was to be admitted when corporate debtor admitted debt on various occasion and didn’t raise any dispute

Case Details: Shapoorji Pallonji and … Continue reading “CIRP was to be admitted when corporate debtor admitted debt on various occasion and didn’t raise any dispute”

Blog, News, Insolvency and Bankruptcy Code

October 19, 2021

CIRP plea rightly admitted as there was a default in repayment of term-loan even if an agreement was insufficiently stamped

Case Details: Ashique Ponnamparambath v. … Continue reading “CIRP plea rightly admitted as there was a default in repayment of term-loan even if an agreement was insufficiently stamped”

Blog, News, Insolvency and Bankruptcy Code

October 19, 2021

Respondents who booked units with an assured return plan in a mall would fall within the purview of ‘financial creditors’

Case Details: J.M. Financial Asset … Continue reading “Respondents who booked units with an assured return plan in a mall would fall within the purview of ‘financial creditors’”

Blog, News, Insolvency and Bankruptcy Code

October 18, 2021

Amount deposited with corporate debtor under investment scheme would come under definition of ‘financial debt’

Case Details: Mohanlal Dhakad v. … Continue reading “Amount deposited with corporate debtor under investment scheme would come under definition of ‘financial debt’”

News, Blog, Insolvency and Bankruptcy Code

October 16, 2021

CIRP plea admitted as corporate debtor committed default in repayment of loan facility disbursed by financial creditor

Case Details: DMI Finance (P.) … Continue reading “CIRP plea admitted as corporate debtor committed default in repayment of loan facility disbursed by financial creditor”

Blog, News, Insolvency and Bankruptcy Code

October 16, 2021

NCLAT struck down IBBI Circular on prospective application

[2021] 131 taxmann.com 109 (Article) … Continue reading “NCLAT struck down IBBI Circular on prospective application”

Blog, News, Insolvency and Bankruptcy Code

October 13, 2021

CIRP plea dismissed as barred by limitation as financial creditor couldn’t substantiate debt fell within limitation

Case Details: Asset Reconstruction Company … Continue reading “CIRP plea dismissed as barred by limitation as financial creditor couldn’t substantiate debt fell within limitation”

Blog, News, Insolvency and Bankruptcy Code

October 12, 2021

Financial creditor to get the benefit of exclusion of time spent in recovery proceeding before DRT: NCLT

Case Details: JM Financial Asset … Continue reading “Financial creditor to get the benefit of exclusion of time spent in recovery proceeding before DRT: NCLT”

Blog, News, Insolvency and Bankruptcy Code

October 11, 2021

Who received demand notice wasn’t concern of applicant as long as demand notice was duly served at registered address

Case Details: Abhinandan Jain v. … Continue reading “Who received demand notice wasn’t concern of applicant as long as demand notice was duly served at registered address”

Blog, News, Insolvency and Bankruptcy Code

October 8, 2021

CIRP plea filed u/s 7 wasn’t time-barred as limitation period to be calculated from date of balance confirmation

Case Details: Kishore Bachuram Kapdi … Continue reading “CIRP plea filed u/s 7 wasn’t time-barred as limitation period to be calculated from date of balance confirmation”