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Every effort to be made to revive the Corporate Debtor, liquidation should be the last resort: NCLAT

Feb 17, 2023

IBBI announces final panel of Insolvency Professionals for the period of 1 January to 30 June 2023

Feb 16, 2023

NCLAT New Delhi dismisses the appeal filed by the IBBI as it is misconceived and not maintainable

Feb 10, 2023

The appellant cannot be convicted as the settlement was nothing but a compounding of the offence: SC

Feb 2, 2023

Section 9 Application cannot be accepted if the dispute raised by the CD is not a moonshine dispute

Feb 1, 2023

National Company Law Tribunal prescribes Dress Code for the Court's members and practitioners

Feb 1, 2023

Any letter by the CD mentioning dues of loan amount has to be treated as an acknowledgement of dues

Feb 1, 2023

SC: The defence raised by the appellant satisfies the standard of “preponderance of probability”

Jan 24, 2023

There should be a cadre of insolvency professionals so that they are accountable to a body

Jan 24, 2023


Oct 13, 2022

Section 138 of NI Act would be applicable only where a legally enforceable debt exists on the date

The Supreme Court Bench comprising Justices Dr Dhananjaya Y Chandrachud and Hima Kohli was hearing an Appeal on Tuesday and held that...

Dec 9, 2022

Sole Proprietor can be prosecuted under section 138 NI Act, without arraying the proprietorship firm

The Punjab & Haryana High Court held that non-arraying of the proprietorship firm/concern is not an impediment in proceeding against the...

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Individual Insolvency


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Sep 3, 2021

Role of Banking Ombudsman in India - An Analysis

The best quality of service supplied to a customer is currently the most significant thing to consider in the banking system. If the customer service offered meets the cl...


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Aug 24, 2021

Cheque dishonour proceedings require expeditious resolution

The large backlog and pending cases/disputes before various judicial venues, Courts, Tribunals, and other bodies have been regularly bemoaned by Indian courts. 'Justice d...


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Aug 27, 2021

Irretrievable prejudice would be done if bank guarantee is allowed to be encashed

A Bank Guarantee (BG) is a common method of securing payment of money in commercial transactions because the beneficiary is entitled to receive the entire amount under th...


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Aug 23, 2021

Applicability of Moratorium under IBC on Cheque Dishonour Proceedings

A moratorium as defined in Section 14 of the Insolvency and Bankruptcy Code 2016 (IBC), is a time during which no new suits or continuations of existing ones against a co...

Ruchitha D.


Supreme Court

In the present case, after the Appellants’ conviction, A revision was preferred by them in the High Court It is important to note that during the course of the revision filed by the Appellants, the parties entered into a Memorandum of Understanding to settle the dispute within themselves. Clause 8 of the Memorandum of Understanding stated that the dispute was to be settled amicably, and in the event of the dispute still not being amicably resolved, it must be first referred to a sole Arbitrator.
The Supreme Court noted that as per the terms of the agreement, Respondent No.2 was ...

B.V. Seshaiah v. The State of Telangana and Another

February 1, 2023

REED 2023 SC 02001

In the present case, the learned Trial Court found that the Income Tax Returns of the complainant did not disclose that he lent amount to the accused, and that the declared income was not sufficient to give loan of Rs.3 lakh. Therefore, the case of the complainant that he had given a loan to the accused from his agricultural income was found to be unbelievable by the learned Trial Court. The learned Trial Court found that it was highly doubtful as to whether the complainant had lent an amount of Rs.3 lakh to the accused. The learned Trial Court also found that the complainant ha...

Rajaram s/o Sriramulu Naidu (Since Deceased) Through LRS v. Maruthachalam (Since Deceased) Through LRS

January 18, 2023

REED 2023 SC 01005

High Court

In the present case, the petitioner has filed the suit prior to the appointment of the Liquidator but after the appointment of the Liquidator, the petitioner has filed his claim of Rs.14,47,32,521/- against the respondent before the Liquidator in the form prescribed under the I&B Code, 2016.
The High Court noted that the NCLTs and the NCLATs are constituted under Sections 408 and 410 of the Companies Act, 2013 but without specifically defining the power and functions of the NCLT. Section 408 of the Companies Act states that the Central Government shall constitute a National Comp...

Alliance Broadband Services Private Limited v. Manthan Broadband Services Private Limited (In Liqn.)

December 19, 2022

REED 2022 Cal 12573

In the present case, the Petitioner filed an Application under section 9 of IBC and simultaneously filed an Application under section 9 of the A&C Act, 1996. Besides, Another Petition was also filed under section 9 of the A&C Act, 1996 for the attachment of the amount of Rs. 2,58,03,143/- lying in hands of Respondent No. 2, who was indebted to pay the amount in order to enable Respondent No. 1 to release the amount in favour of the petitioner.

It was an admitted case that Respondent No. 2 (AWHO) had awarded a Contract dated 11.03.2011 for the construction of Twin Tower r...

Brilltech Engineers Private Limited v. Shapoorji Pallonji and Company

December 15, 2022

REED 2022 Del 12572


Reserve Bank of India

Notification No. RBI/2022-23/148

December 7, 2022


Reserve Bank of India

Notification No. RBI/2022-23/22

April 8, 2022


Reserve Bank of India

Notification No. RBI/2022-23/13

April 1, 2022


Reserve Bank of India

Notification No. RBI/2022-23/144

December 1, 2022


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