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SEBI alerts RBI about Non-banking financial companies evergreening loans

Nov 28, 2022

If maintenance of premises is liability of OC, it cannot be a ground to reject Section 9 Application

Nov 25, 2022

HDFC Bank appoints Bhavesh Zaveri as Executive Director, Kaizad Bharucha as Deputy Managing Director

Nov 25, 2022

If the Secured Creditor takes action under SARFAESI Act, it would not bar the arbitration proceeding

Nov 24, 2022

SC deprecate the practice of entertaining writs by High Courts without exhausting alternative remedy

Nov 23, 2022

The Insolvency and Bankruptcy Code is structured around timebound resolution of the corporate debtor

Nov 22, 2022

Presumption u/s 139 N I Act includes a presumption that there exists a legally enforceable liability

Nov 22, 2022

RBI imposes monetary penalty on the Parwanoo Urban Co-operative Bank for contravention of its norms

Nov 21, 2022

Prayer seeking reference of disputes to arbitration when it is subject matter of DRT is misconceived

Nov 21, 2022

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Sep 4, 2021

Supreme Court to Canara Bank: Go after big fish if concerned about NPAs

The Supreme Court remarked on Tuesday that instead of pursuing tiny loans of a few thousand rupees, public sector banks should...

Dec 22, 2020

Govt. extends suspension of IBC till March 2021

The suspension of Insolvency and Bankruptcy Code, 2016 (IBC) has been extended for another three months. Finance Minister Nirmala...

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ARTICLES

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Nov 19, 2021

Effect of Moratorium on Arbitration Proceedings

Insolvency and Bankruptcy Code, 2016 (IBC/Code) which received presidential assent on 25th May, ...

REEDLAW

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Sep 3, 2021

Section 7 Application of IBC cannot be allowed if Petition filed collusively

Section 7: Initiation of corporate insolvency resolution process by the financial creditor:
7. (1) A financial creditor either by itself or jointly with [other financial ...

K. Bavana

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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...

REEDLAW

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Sep 1, 2021

"Preferential Transaction" and "Relevant Time" under Section 43 of IBC

The present Appeal was filed challenging the Impugned Order dated 26.02.2021 passed by the Adjudicating Authority (National Company Law Tribunal, Division Bench-I, Chenna...

R. Haritha

LATEST CASE LAWS

Supreme Court

High Court

NCLAT

The Appellant was an auction purchaser feeling aggrieved and dissatisfied with the impugned order passed by the High Court by which the High Court allowed the said appeal preferred by respondent no.1/Bank and quashed and set aside the judgment and decree passed by the learned Trial Court, directing the Bank to pay to the plaintiff a sum of Rs.58,10,000/with interest at the rate of 12% per annum from the date of suit till realization, the original plaintiff has preferred the present appeal.
The Supreme Court observed that right from the very beginning the plaintiff insisted for h...

Leelamma Mathew (Mrs.) v. Indian Overseas Bank and Others

November 17, 2022

REED 2022 SC 11208

The petitioner was a Non-Financial Company incorporated under the provisions of the Companies Act, 1956. The petitioner company is engaged inter-alia in the business of rendering finance/loan facilities, to the intending borrowers.
Facts:
The Directors and authorised representatives of respondent No.1 approached the petitioner requesting the grant of a Secured Term Loan. The petitioner inter-alia sanctioned a Loan Facility namely Loan against Property (hereinafter, LAP) for an amount of ₹ 32.00. Crore (also known as Secured Term Loan) and another loan namely Lease Rental Discoun...

Hero Fincorp. Limited v. Techno Trexim (I) Private Limited and Others

November 18, 2022

REED 2022 Del 11211

If maintenance of premises is the liability of the Operational Creditor in which there are certain lapses, these issues cannot be a ground to reject the Section 9 Application....

Anubha Sinha v. JN Hotels Private Limited and Another

November 24, 2022

REED 2022 NCLAT Del 11584

DRAT

In the present case the Application was filed to condone delay of 424 days in preferring the Appeal against Order of DRT-I, Chennai.
Main reasons assigned for delay of 424 days can be divided into two parts; first part was prior to COVID-19 pandemic, and second part was after COVID-19 pandemic. From date of receipt of Order to date of filing Appeal, if the period was divided into two parts, roughly 224 days will fall under first category i.e., prior to COVID-19 pandemic, and around 200 days would fall under the second category, i.e. after COVID-19 pandemic. If there was sufficie...

Canara Bank v. Coromandel Indag Products India Limited and Others

October 19, 2022

REED 2022 DRAT Chen 10209

LATEST CIRCULARS & NOTIFICATIONS

Insolvency and Bankruptcy Board of India

Circular No. IBBI/IP/55/2022

November 9, 2022

Circular

Insolvency and Bankruptcy Board of India

Circular No. IBBI/IPA/54/2022

November 2, 2022

Circular

Insolvency and Bankruptcy Board of India

Notification No. IBBI/2022-23/GN/REG101

October 31, 2022

Notification

Insolvency and Bankruptcy Board of India

Order No. IBBI/DC/133/2022

October 12, 2022

Order

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