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Jul 24, 20243 min read
IBC: NCLAT Rejects CIRP Application and Penalises Operational Creditor Due To Malicious Intent
NCLAT upholds penalty on OC for misuse of IBC, highlighting the need for concrete evidence in CIRP cases.
Jul 23, 20243 min read
IBC: NCLT Admits CIRP Application by BCCI Against Think & Learn Private Limited
NCLT admits BCCI's CIRP application against Byju’s parent for unpaid dues, recognising operational debt from continued sponsorship agreement
Jul 22, 20244 min read
Adherence to Limitation Periods in Insolvency Proceedings: NCLT Dismisses Personal Guarantor’s Liability Based on Limitation
NCLT rules on personal guarantor liability, highlighting the importance of limitation adherence in IBC cases.
Jul 20, 202411 min read
A New Dawn for MSMEs: The IBC's Strategic Insolvency Framework
Introduction The Insolvency and Bankruptcy Code ( ‘IBC’ ), enacted in India in 2016, provides a comprehensive framework for resolving...
Jul 20, 20244 min read
Tax Authorities Must Adhere to IBC Procedure During Liquidation: NCLAT Firmly Affirms
NCLAT rules Income Tax Dept must follow IBC rules in liquidation cases.
Jul 17, 20244 min read
[Supreme Court] No Modifications Are Permitted in the Resolution Plan Once It Is Approved by the CoC and NCLT
NCLT upholds IBC norms; bars resolution plan changes post-approval by CoC and Tribunal.
Jul 16, 20243 min read
NCLT: Serving a Demand Notice Under S. 95 of the IBC is a Mandatory Requirement, Not Merely a Formality
NCLT underscores strict procedural compliance for initiating CIRP against personal guarantors under IBC.
Jul 11, 20244 min read
[NCLAT] Affirms IBC's Overriding Effect Over SARFAESI and RDDBFI Acts in Insolvency Proceedings
NCLAT upholds IBC's supremacy in insolvency resolutions, impacting SARFAESI and RDDBFI proceedings
Jul 11, 20243 min read
Judicial Mandate for CoC Approval: Resolution Professional’s Pre-CIRP Payments Under Scrutiny
NCLT mandates CoC approval for pre-CIRP dues paid by RP to ensure compliance.
Jun 14, 20248 min read
Navigating Personal Insolvency: Transformative Insights into India’s Legal Landscape
Explore the transformative impact of the IBC on personal insolvency in India, unveiling a structured path for individual debtors.
Jun 11, 20243 min read
NCLT Clarifies Role and Conduct of Resolution Professionals in Insolvency Proceedings
NCLT ruling emphasizes RP's consultative role, not extending to additional consultants or decisions beyond debtor guidance.
Jun 10, 20243 min read
NCLAT Validates Ex-Post Facto Approval in Liquidator’s S. 7 Applications Under S. 33 of the IBC
Landmark NCLAT decision affirms key procedural mandates for liquidators, safeguarding creditor rights.
Jun 8, 20244 min read
Financial Creditors and Homebuyers Can Be Treated Differently Under a Resolution Plan
NCLAT upholds NCLT's decision, affirming fair treatment under IBC s.30(2)(b) for dissenting FCs and homebuyers.
Jun 7, 20243 min read
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 1, 20243 min read
Unstamped Agreement Does Not Nullify Operational Debt Claim under the IBC: NCLAT
NCLAT ruling safeguards OCs' rights, affirming unstamped contracts still hold under IBC.
May 25, 20244 min read
Calcutta HC Emphasizes Legal & Procedural Integrity in Willful Defaulter Declarations: Reliance on Flawed Transaction Audit Report Invalidated
Calcutta HC rules against using flawed TAR for willful defaulter declarations.
May 25, 20244 min read
NCLAT Overturns NCLT Order Confirming Lack of CLB's Jurisdiction to Punish for Contempt Under the Companies Act
NCLAT rules CLB can't punish for contempt under Companies Act, dismissing NCLT's prior ruling.
May 20, 20243 min read
Debt Cannot Be Classified as a Loan in the Absence of a Contract or Agreement – NCLAT Delhi
Debt lacks the legal framework of a loan without a formal contract, rules NCLAT Delhi in Metamorphosis Trading LLP v. Sankalp Engineering.
May 19, 20242 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 13, 20243 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.