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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 23, 20243 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 22, 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 20, 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 17, 20244 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 16, 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.
Jul 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 11, 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 10, 20243 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 8, 20244 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 7, 20243 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