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Corrs Chambers Westgarth
In recent case 2 linked companies were to be a pooled group to satisfy the external debts payable by both companies.
McCullough Robertson
Article discusses new law that gives greater powers to detect and disrupt phoenix activity and to prosecute offenders.
Hong Kong
Hogan Lovells
Just in time for the Chinese New Year, a Hong Kong court has taken a major step forward in the developing law on cross-border insolvency by recognizing a mainland Chinese liquidation for the first time.
Dentons
On 13 January 2020, the Hong Kong Court of First Instance made an order recognising Mainland insolvency proceedings in respect of CEFC Shanghai International Group Limited
India
Singh & Associates
High Court can interfere under Article 226/227 of the Constitution against NCLT order, which lacks jurisdiction on a particular matter.
Singh & Associates
The IBBI had vide gazette notification dated 20.11.2019 issued the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Personal Guarantors to Corporate Debtors) Regulations, 2019 ...
Khaitan & Co
The Supreme Court has recently in its judgment dated 21 January 2020, in the case of Standard Chartered Bank v MSTC Limited [SLP (C) No 20093 of 2019], provided clarity on the interplay between the ...
HSA Advocates
The CIRP of an FSP shall be initiated on an application by the appropriate regulator.
HSA Advocates
The banking sector has been under tremendous stress in the past few years due to the increasing number of non-performing assets (NPA)...
Fair & Just Legal Solutions LLP
The Insolvency and Bankruptcy Code, 2016 ("IBC") deals with reorganisation and insolvency resolution of corporate persons
Fair & Just Legal Solutions LLP
In case any corporate debtor defaults in making payment to its creditor(s), a corporate insolvency resolution process ("CIRP") may be initiated against such corporate debtor.
Fair & Just Legal Solutions LLP
The Insolvency and Bankruptcy Code, 2016 is considered as an important legislation for early detection of financial sickness of any corporate debtor and to deal with such sickness in a time bound manner ...
Lex Favios
The Insolvency and Bankruptcy Board of India (IBBI), vide the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Amendment) Regulations, 2020,...
The Law Office of Jyoti B Singh
The Full Bench of the Hon'ble Supreme Court of India comprising of Mr. Justice R.F. Nariman, Mr. Justice Aniruddha Bose, and Mr. Justice V. Ramasubramanian in M/s. Maharashtra Seamless Limited v. Padmanabhan Venkatesh & Ors. ...
The Law Office of Jyoti B Singh
The Single Bench of Hon'ble National Company Law Tribunal, Mumbai bench in the matter of State Bank of India v. Ushdev International Limited (CP No.1790/IBC/NCLT/MB/MAH/2017) decided on the following issues, ...
The Law Office of Jyoti B Singh
The Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Amendment) Regulations, 2020 was notified by the Insolvency and Bankruptcy Board of India vide notification dated January 15, 2020 ...
IndusLaw
On January 6, 2020, the IBBI notified the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2020 to further amend the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016.
VGC Law Firm
On 6th January, 2020, the Insolvency and Bankruptcy Board of India ("IBBI"/ "Board") notified the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2020.
AZB & Partners
On October 24, 2019, CCI approved the acquisition of 100% of the total issued and paid-up equity share capital of Kwality Limited (‘Kwality') (which is undergoing insolvency resolution...
Phoenix Legal
After a battle that lasted approximately 900 days, the Supreme Court of India in the case of Committee of Creditors of Essar Steel India Limited through Authorised Signatory v. Satish Kumar Gupta, paved the way for ArcelorMittal ...
AZB & Partners
In the past few months, the Central Government and the Insolvency and Bankruptcy Board of India (‘IBBI') have introduced several changes to the Insolvency and Bankruptcy Code
The Law Office of Jyoti B Singh
Before the enactment of Insolvency and Bankruptcy Code, 2016 (Act No. 31 of 2016), there was no single comprehensive law in India dealing with the insolvency and bankruptcy of companies, individual and partnership firms.
The Law Office of Jyoti B Singh
Applicability of provisions of Limitation Act, 1963 to the applications filed for initiation of corporate insolvency resolution process under Part II of the Insolvency & Bankruptcy Code, 2016 has been a controversial issue ...
DSK Legal
The NCLT held that a corporate debtor can access its GST Portal Account for filing GST Returns generated after the commencement of the corporate insolvency resolution process
Economic Laws Practice
Karvy Clients Challenge IBC Amendment On Individual Creditors.
India Law Alliance
The Supreme Court has upheld the constitutional validity of the Insolvency and Bankruptcy Code after hearing a batch of petitions filed by some 40 companies alleging discrimination against operational creditors under the Code.
Royzz & Co
Essar Group is an Indian conglomerate into manufacturing, services and retails sectors. The group has operational presence across 29 countries having 45,000 employees across the world.
Lex Favios
The Insolvency and Bankruptcy Board of India ("IBBI") vide notification dated February 6, 2018, amended the Insolvency and Bankruptcy Board of India
Lex Favios
The Amendment will remove certain ambiguities in the Insolvency and Bankruptcy Code, 2016 and ensure smooth implementation of the Code.
S.S. Rana & Co. Advocates
The amendment aims at streamlining issues of troubled companies, protect corporate debtors and prevent unnecessary revocation of insolvency proceedings under the IBC.
IndusLaw
Since inception, the Insolvency and Bankruptcy Code, 2016 (the "Code") has faced a barrage of amendments and course correction from both the Judiciary as well as the Legislature.
Phoenix Legal
It is pertinent to note that the word ''offence" had not been defined in the Code.
The Law Point
Leaving a major imprint upon the nascent insolvency law regime, the Essar Steel insolvency debate has touched upon almost every aspect of the Code
India Law Alliance
A division bench of the Supreme Court hearing a batch of petitions filed by some 40 companies challenging the validity of the Insolvency and Bankruptcy Code, 2016 observed that operational creditors of companies ...
DSK Legal
The Ministry of Law and Justice published the Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Act, 2016 on...
The Law Office of Jyoti B Singh
On the second issue, the Supreme Court held that NCLT and NCLAT have the jurisdiction to enquire into questions of fraud in light of Sections 65 and 69 of IBC.
The Law Office of Jyoti B Singh
The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019 ("Ordinance") was promulgated on December 28, 2019 to amend the Insolvency and Bankruptcy Code, 2016 ("Code").
DSK Legal
The Hon'ble Supreme Court vide its judgment dated November 15, 2019 has cleared the way for Arcelor Mittal's takeover of Essar Steel India Limited.
DSK Legal
The Hon'ble Supreme Court looked into two major issues under the IBC regime: (i) whether the NCLT and the NCLAT had the power to exclude any period from the statutory period in exercise of their inherent powers, ...
DSK Legal
The NCLAT held that once the claim of a creditor is taken into consideration in the ‘Resolution Plan' by providing them the same treatment as other similarly situated Creditors, thereafter the creditor cannot take ...
India Law Alliance
In an important decision, the principal bench of National Company Law Tribunal at New Delhi has held that financial service providers like NBFCs are exempt from insolvency proceedings under the Insolvency and Bankruptcy Code 2016.
AMLEGALS
As a matter of law, a demand notice must be effectively delivered upon whom it is intended for and issued for delivery.
Juris Prime Law Services
The Central Government recently notified that Part III of the Insolvency and Bankruptcy Code, 2016 ("Code"), shall be applicable to the personal guarantors of a corporate debtor.
AMLEGALS
The Insolvency and Bankruptcy Code (Amendment) Ordinance,2019, promulgated on 28th December,2019.
Phoenix Legal
While the FSP Rules are an ad hoc solution, their notification is welcome as it represents a step in the right direction.
PSL Advocates and Solicitors
Nowadays filings before the National Company Law Tribunal (‘NCLT') under the provisions of the Insolvency and Bankruptcy Code, 2016 (‘IBC')
AMLEGALS
If a demand notice under IBC returns undelivered then what are the remedies available?
King, Stubb & Kasiva
This means lenders can drag these guarantors to the tribunals alongside their companies if the companies are incapable of paying their debts.
Singhania & Co
This newsletter discusses the recent developments in the Insolvency and Bankruptcy Code that dynamically changes the way the code shall be governing the future of the companies.
AMLEGALS
When High Court Can Entertain Writ Petition Against Order Passed By NCLT Under Insolvency and Bankruptcy Code, 2016
Cyril Amarchand Mangaldas
The edifice of the Insolvency and Bankruptcy Code, 2016 ("IBC") was conceptualised on ideas such as promoting ‘maximisation of value of assets', ‘a transparent and predictable insolvency law'
Alpha Partners
A pre-packaged administration is a pre-planned insolvency procedure wherein a company arranges to sell its assets to a buyer prior to filing for insolvency
Vaish Associates Advocates
The case between CoC of Essar Steel v. Satish Kumar Gupta, in a series of petitions filed in the apex court finally paved way for its final verdict on November 15, 2019.
Atlas Law Partners
The Supreme Court of India has passed a landmark judgment in respect of the Amrapali Group which though historic, has once again reset the landscape in the everchanging bankruptcy laws in India.
Mayer Brown
The team's representative experience in this region includes acting for insolvency practitioners, banks, alternative credit providers and corporate trustees on matters including:...
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