Mondaq India: Insolvency/Bankruptcy/Re-structuring
VGC Law Firm
On August 9, 2019, in State Bank of India v. M/s. Manibhadra Polycot & Ors., Civil Appeal Nos. 4656-4657 of 2019, the Supreme Court has set aside an order passed by the National Company Law Appellate Tribunal ...
S.S. Rana & Co. Advocates
The professionals play a key role in disbursing dues to all forms of creditors and pay out liabilities as per the Insolvency and Bankruptcy Code.
AMLEGALS
SEBI had filed an appeal in NCLAT against the approval of resolution plan in Assam Company Limited by NCLT
DMD® ADVOCATES
The amendment would enable the market to come up with dynamic resolution plans for value maximisation.
AMLEGALS
Excel Metal Processors Limited Vs. Benteler Trading International GMBH and Anr [Company Appeal (AT) (Insolvency) No. 782 of 2019], NCLAT;
AMLEGALS
The NCLAT, while referring to Binani Industries Limited vs. Bank of Baroda and Anr.2018 SCC Online NCLAT 521, observed that CIRP is not a ‘suit' or a ‘litigation' or a ‘money claim' for any litigation.
AZB & Partners
On June 3, 2019, CCI approved the proposed joint acquisition of up to 100% of the total issued and paid up share capital of each of Uttam Galva Metallics Limited (‘UGML') and Uttam Value Steel Limited
Link Legal India Law Services
The Insolvency & Bankruptcy Code 2016 was enacted with a view to consolidate and amend the laws relating to reorganisation and insolvency resolution of corporate persons, limited liability partnerships, ...
King, Stubb & Kasiva
Though these judgments were in respect of settlement but the question was of applicability of NCLT rules in insolvency proceedings.
Vaish Associates Advocates
This would defeat the purpose of IBC and would also cause wrongful loses to all the creditors including Roxcel.
King, Stubb & Kasiva
The Hon'ble National Company Law Appellate Tribunal,New Delhi, in its recent judgment in Ahluwalia Contracts (India) Limited v. Raheja Developers Limited dated July 23, 2019, held that insolvency plea cannot be rejected ...
Tuli & Co
Given this judgment, corporate debtors will now need to be prompt in raising any disputes they have pertaining to claims made on them by Operational Creditors.
L&L Partners
Amendment in IBC qua MSME's: Ease, Endorse and ensure Expansion
Trilegal
The Insolvency and Bankruptcy Code (Amendment) Act, 2019 seeks to address critical gaps and inconsistencies in insolvency resolution timelines, payments received by operational creditors under
IndusLaw
On July 25, 2019, the IBBI notified amendments to the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 and the IBBI (Liquidation Process) Regulations, 2016.
Khaitan & Co
On 20 June 2019, the National Company Law Appellate Tribunal (NCLAT), in A.J. Agrochem v Duncans Industries Limited, passed an order deciding the issue of whether approval of the Central Government under Section 16G(1)(c) ...
AMLEGALS
The NCLAT, while relying upon Section 137 of the Limitation Act, 1963 concluded that the Appellant had approached an appropriate forum for relief in time and hence the application was not barred by limitation.
LexOrbis
This Judgment triggered for the amendments in the code by the central Government.
Khaitan & Co
Section 14 of the Insolvency & Bankruptcy Code 2016 (as amended) (IBC) imposes a moratorium on the institution of suits or continuation of pending suits or proceedings against a corporate debtor.
Dhaval Vussonji & Associates
Out of these, 300 homebuyers attend a meeting of the CoC and 270 of such homebuyers, vote in favour of a particular agenda.
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VGC Law Firm
The default referred to herein above is in respect of a financial debt owed to any financial creditor.
Trilegal
The Insolvency and Bankruptcy Code (Amendment) Act, 2019 seeks to address critical gaps and inconsistencies in insolvency resolution timelines, payments received by operational creditors under
Cyril Amarchand Mangaldas
The Insolvency and Bankruptcy Code, 2016 (IBC) has been widely considered a landmark legislation that has brought about a paradigm shift in the recovery and resolution process.
Dhaval Vussonji & Associates
In contrast, the definition of operational debt is exhaustive in nature to mean inter alia a claim in respect of the provision of goods or services including employment.
IndiaLaw LLP
List of applications admitted by NCLTs under Insolvency and Bankruptcy Code, 2016 with details of public announcements inviting claims
Clarus Law Associates
On 11.10.2018, a division bench of the Hon'ble Supreme Court of India comprising of Justice R.F. Nariman and Justice Navin Sinha in the matter of B.K. Educational Services Private Limited v Parag Gupta And Associates, ...
AZB & Partners
On June 3, 2019, CCI approved the proposed joint acquisition of up to 100% of the total issued and paid up share capital of each of Uttam Galva Metallics Limited (‘UGML') and Uttam Value Steel Limited
King, Stubb & Kasiva
In case of cash flow insolvency the company is unable to pay debt as it falls due and in balance sheet insolvency the total liability exceeds its realisable assets.
Khurana and Khurana
It is better to have one codified legislation than multiple to deal with the aspects of a company which can have a singular umbrella.
VGC Law Firm
There have been a number of cases where the issue of rights of a creditor against a guarantor (corporate as well as individual) under the Insolvency and Bankruptcy Code, 2016 have been raised.
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