Insolvency and Bankruptcy Code

News, Blog, Insolvency and Bankruptcy Code

August 4, 2021

Person giving an interest-free loan to the corporate debtor to cover its working capital needs is a financial creditor: SC

Case details: Orator Marketing (P.) … Continue reading “Person giving an interest-free loan to the corporate debtor to cover its working capital needs is a financial creditor: SC”

Blog, News, Insolvency and Bankruptcy Code

July 30, 2021

NCLAT permits liquidator to sell inventory of expired stocks to oil manufactures via e-auction

Case details: Satya Narayan Jhunjhunwala … Continue reading “NCLAT permits liquidator to sell inventory of expired stocks to oil manufactures via e-auction”

Blog, News, Insolvency and Bankruptcy Code

December 13, 2021

Availability of alternate remedy by way of arbitration doesn’t bar triggering of CIRP by operational creditor : NCLAT

Case details: Sodexo India Services … Continue reading “Availability of alternate remedy by way of arbitration doesn’t bar triggering of CIRP by operational creditor : NCLAT”

Blog, News, Insolvency and Bankruptcy Code

July 28, 2021

Stay granted does not lead to an automatic revival of Company Petition which had already been closed by NCLT

Case details: Binay Kumar Singhania … Continue reading “Stay granted does not lead to an automatic revival of Company Petition which had already been closed by NCLT”

Blog, News, Insolvency and Bankruptcy Code

July 28, 2021

Applicant-Bank can’t file intervene plea before NCLAT if it isn’t a party to proceedings before NCLT: NCLAT

Case details: State Bank of … Continue reading “Applicant-Bank can’t file intervene plea before NCLAT if it isn’t a party to proceedings before NCLT: NCLAT”

Blog, News, Insolvency and Bankruptcy Code

July 27, 2021

Corporate debtor which fell under category of MSME prior to 1-6-2020 was eligible to submit arrangement scheme

Case details: Rakesh Kumar Agarwal … Continue reading “Corporate debtor which fell under category of MSME prior to 1-6-2020 was eligible to submit arrangement scheme”

Blog, News, Insolvency and Bankruptcy Code

July 27, 2021

NCLAT upheld AA’s order directing appellant to pay sum as a security deposit towards e-auctioned property

Case details: Dhan Prakash Gupta … Continue reading “NCLAT upheld AA’s order directing appellant to pay sum as a security deposit towards e-auctioned property”

News, Blog, Insolvency and Bankruptcy Code

July 26, 2021

IBBI amends insolvency professionals norms; changes experience criteria, number of assignments capped to ten

NOTIFICATION NO. IBBI/2021-22/GN/REG077, Dated 23.07.2021 … Continue reading “IBBI amends insolvency professionals norms; changes experience criteria, number of assignments capped to ten”

Blog, News, Insolvency and Bankruptcy Code

July 23, 2021

NCLT orders dissolution of corporate debtor as it been completely liquidated and liquidator had filed Form H

Case details: Business Jets (India) … Continue reading “NCLT orders dissolution of corporate debtor as it been completely liquidated and liquidator had filed Form H”

Blog, News, Insolvency and Bankruptcy Code

July 22, 2021

New application for GST registration by Cos. undergoing CIRP couldn’t be rejected on ground of suo motu cancellation

Case details: Sapan Mohan Garg … Continue reading “New application for GST registration by Cos. undergoing CIRP couldn’t be rejected on ground of suo motu cancellation”