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NCLAT Clarifies: Security Deposit Refunds Do Not Qualify as Operational Debt Under IBC
NCLAT ruling: Conditional security deposits can't be claimed as IBC operational debt.
Jun 7, 20243 min read
A Bank’s Comrade: An Overview of the SARFAESI Act
Empowering banks, the SARFAESI Act enhances debt recovery, ensuring financial stability without court delays.
Jun 3, 20249 min read
NCLT Approves Distribution of Not Readily Realisable Assets Among Stakeholders in Liquidation Case
ITAT Hyderabad clarifies that crediting revalued assets to partner accounts triggers capital gains under ITA's s. 45(4)
May 19, 20242 min read
Bombay High Court Rules on the Inapplicability of S. 32A IBC Protections to Natural Persons and Existing Directors
Explore how Bombay HC clarifies s. 32A IBC protections don't shield directors or individuals in ongoing criminal cases.
May 13, 20243 min read
Disbursal Against Time Value of Money: Understanding Financial Debt Under IBC
NCLAT's recent judgment on financial debt under IBC emphasizes the need for transparency and solid evidence in insolvency disputes.
May 13, 20243 min read
PUFE Transactions Under IBC
Explore how the IBC transforms insolvency with strict PUFE transaction laws, ensuring creditor rights and integrity in proceedings.
May 9, 20249 min read
Clarifying Eligibility: NCLAT’s Ruling on Wilful Defaulters in Resolution Proceedings
NCLAT clarifies eligibility of wilful defaulters in CIRP, balancing creditor rights and corporate revival amidst legal complexities.
May 7, 20242 min read
Customs v. IBC: Who controls confiscated assets?
NCLAT rules on asset control in insolvency, balancing customs authority and IBC mandates.
Apr 30, 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 18, 20243 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 14, 20244 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 12, 20242 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 11, 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 10, 20244 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.
Apr 8, 20242 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...
Mar 11, 20244 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 20, 20245 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 19, 20243 min read
IBBI Circular on Voluntary Liquidation Process for Financial Service Providers: Compliance & Reporting Guidelines
Introduction The Insolvency and Bankruptcy Board of India ( ‘IBBI’ ) recently introduced a significant circular [i] for...
Feb 19, 20243 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 16, 20245 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...
Feb 6, 20243 min read