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Apr 27, 20243 min read
Understanding the Legal Importance of Notes of Accounts in Financial Statements
Supreme Court rules: Omitting notes from balance sheets can disqualify bidders—key for legal compliance!
Apr 22, 20243 min read
NCLT Proceedings Prevail Over Enforcement Directorate Proceedings
Kerala HC ruling emphasizes IBC's authority over PMLA, allowing asset liquidation to proceed balancing legal and creditor interests.
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 13, 20244 min read
Companies Act v. Stamp Act: Supreme Court’s Verdict on Stamp Duty on Increased Share Capital
SC's ruling redefines stamp duty on share capital, clarifying the supremacy of the Companies Act over the Stamp Act.
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 18, 20243 min read
Regulatory Oversight and Fairness: The Supreme Court's Ruling on Company Name Restoration
Introduction The recent judgment from the Hon’ble Supreme Court (‘SC’) in the case of R. P. Casting (P.) Ltd. v. Registrar of Companies,...
Mar 16, 20243 min read
Boardroom Battles: An Analysis of NCLT’s Dismissal in the Om Shiv Shakti Corporate Dispute
Exploring the NCLT's ruling on no mismanagement in selling less-valued land due to urgent financial needs & market conditions.
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 20, 20245 min read
SFIO’s Authority and Role Upheld by Karnataka High Court in Corporate Affairs Investigation
Introduction In the matter of Exalogic Solutions Private Limited v. The Director, Serious Fraud Investigation Office and Anr.[i], the...
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...
Feb 16, 20245 min read
Enhancing Transparency and Efficiency: Key Amendments to Liquidation Process Regulations
Introduction The Insolvency and Bankruptcy Board of India (‘IBBI’) has recently introduced significant amendments through the IBBI...
Feb 6, 20243 min read
Enhancing Voluntary Liquidation Process: Highlights of the IBBI (Voluntary Liquidation Process) (Amendment) Regulations, 2024
Introduction The Insolvency and Bankruptcy Board of India (‘IBBI’) has introduced amendments to the 2017 regulations governing voluntary...