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SREI Group insolvency proceedings: SREI Equipment borrowers' have AIF connection

Oct 20, 2021

Delhi Police Cyber Cell arrests 12 people, including 3 HDFC Bank staff for trying to withdraw money

Oct 20, 2021

MCA invites applications for the selection of posts of Judicial and Technical Members in the NCLATs

Oct 19, 2021

RBI imposes a penalty of ₹1.95 crore on Standard Chartered Bank for non-compliance with directions

Oct 19, 2021

Karnataka Bank appoints Pradeep Kumar Panja as part-time chairman for a period of three years

Oct 19, 2021

RBI looking for proposals to takeover PMC

Oct 19, 2021

YES Bank-Dish TV fight it out

Oct 19, 2021

RBI imposes a penalty of ₹1 crore on the State Bank of India for non-compliance with its directions

Oct 19, 2021

RBI withdraws direction issued to Hindu Cooperative Bank Limited, Pathankot, Punjab

Oct 15, 2021

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...

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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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

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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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Aug 30, 2021

Admissibility of claims during CIRP

The Insolvency and Bankruptcy Code of 2016 has proven to be a strong piece of legislation in terms of governing the insolvency and liquidation of corporate organisations....

Ruchitha D.

LATEST CASE LAWS

Supreme Court

High Court

NCLAT

Section 139 of N.I. Act raises the presumption “unless the contrary is proved”. Once the complainant discharges the burden of proving that the instrument was executed by the accused; the presumption under Section 139 shifts the burden on the accused. The expression “unless the contrary is proved” would demonstrate that it is only for the accused at the trial to adduce evidence of such facts or circumstances on the basis of which the burden would stand discharged. The determination of whether a cheque pursuant to a settlement agreement arises out of a legal liability would be dep...

Gimpex Private Limited v. Manoj Goel

October 7, 2021

REED 2021 SC 10001

Irretrievable injury, has to be such a circumstance which would make it impossible for the guarantor to reimburse himself, if he ultimately succeeds. This will have to be decisively established and it must be proved to the satisfaction of the court that there would be no possibility whatsoever of the recovery of the amount from the beneficiary, by way of restitution. Commitment of banks must be honoured free from interference by the courts and it is only in exceptional cases, that is to say, in case of fraud or in a case where irretrievable injustice would be done if bank guaran...

SKS Power Generation (Chattisgarh)Limited v. Canara Bank

August 10, 2021

REED 2021 Bom 08560

Keeping in view the decisions of the Hon’ble Supreme Court in Ebix Singapore Pvt. Ltd. v. Committee of Creditors of Educomp Solutions Ltd. & Anr., REED 2021 SC 09523, and also taking into consideration, the legislative intent of the statute together with the fact that in the instant case the Resolution Plan was accepted by 100% of voting share in the CoC Meeting dated 21.06.2021 and having regard to the fact that the Appellant had never participated in the EoI, the Appellate Authority were of the view that any reliefs granted in contra to the timelines would be ultra vires to th...

Amanat Randhawa Hotels Private Limited v. Shashi Kant Nemani, Resolution Professional of Aryavir Buildcon Private Limited and Others

October 6, 2021

REED 2021 NCLAT Del 10510

DRAT

It was true that the DM’s order dated 24.12.2018 was not adjudicated on merit in the S.A. No. 43/2019 and only an interim relief was sought. The S.A. was ultimately dismissed in default, therefore, the doctrine of res-judicata is not applicable for adjudication of this issue. Hence, the S.A. was maintainable for adjudication purpose and the Tribunal below has rightly held so, but the maintainability does not ipso-facto bring the issue within limitation nor it be treated as condonation of delay. No issue can be decided without condonation of delay nor any relief can be granted ag...

Bank of Baroda v. Maa Vaishno Cold Warehouse Private Limited and Others

September 30, 2021

REED 2021 DRAT Ald 10201

LATEST CIRCULARS & NOTIFICATIONS

Ministry of Corporate Affairs

MoC Circular No. A-12023/4/2019-Ad.lV

October 12, 2021

Circular

Reserve Bank of India

Notification No. RBI/2021-22/111
DoR.FIN.REC.59/20.16.056/2021-22

October 13, 2021

Notification

Insolvency and Bankruptcy Board of India

Press Release No. IBBI/PR/2021/26

October 12, 2021

Press Release

Ministry of Corporate Affairs

Notice File No. 1010312021-NCLT

October 9, 2021

Notice

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