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LATEST NEWS

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

MOST VIEWED

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...

Feb 3, 2021

Privatisation of public sector banks starts, PNB and BOB first ones to be sold

Finance Minister Nirmala Sitharaman announced on Monday that the government will divest its stake in two PSBs, apart from one general...

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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

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 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

The Appellate Authority observed that the opportunity for the Resolution Professional and the CoC has to be a time-bound opportunity to make one more effort to revive the Corporate Debtor, as the liquidation being Company Appeal as the last resort....

Govind Prasad Todi and Another v. Satya Narayan Guddeti and Others

February 14, 2023

REED 2023 NCLAT Del 02542

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

Notification No. IBBI/LIQ/57/2022

December 21, 2022

Circular

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

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