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LATEST NEWS ON INSOLVENCY LAW

Employees Provident Fund Organization (EPFO) to comply with the timelines set by the IB Code, 2016

Sep 14, 2023

The liquidator in an insolvency process must provide transparent and well-reasoned decisions

Sep 13, 2023

Breach of a settlement agreement does not render a Section 9 Application for insolvency proceedings

Sep 10, 2023

While Order In REED 2020 SC 10539 Operated As Res Judicata, It Didn't Create A Binding Precedent: SC

Aug 28, 2023

A Resolution Plan Can Include a Clause Extinguishing FC's Security Interest via Personal Guarantees

Aug 22, 2023

Appellants' Invoice Discounting Actions do not Qualify as Financial Debt but Instead Made Them OC

Aug 22, 2023

NCLAT rules that the existence of an Arbitration Clause does not prevent Insolvency Proceedings

Aug 19, 2023

Operational Creditors cannot expect equal treatment as Financial Creditors under the IB Code

Aug 18, 2023

NCLT Implements Major Reshuffle: Judicial Members and Technical Members Reassigned Across Benches

Aug 18, 2023

MOST VIEWED

Jun 17, 2021

Government extends date of validity of existing MSMEs vide Notification S.O. 2347(E) Dated 16-6-2021

In exercise of the powers conferred by sub-sections (1) and (9) of section 7 read with sub-sections (2) and (3) of section 8 of the...

Mar 15, 2021

IBBI (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2021

Insolvency and Bankruptcy Board of India notifies the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for...

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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

Administrative and quasi-judicial authorities, such as a Liquidator in an insolvency process, must provide transparent and well-reasoned decisions, recording objective grounds for actions affecting the rights of parties, and that the requirement to provide reasons for rejecting bids applied both prospectively and retrospectively.

In a Supreme Court judgment related to Application (I.A. No.14220 of 2022), the Court allowed intervention in a case involving an appeal under Section 62 of The Insolvency and Bankruptcy Code, 2016. The appeal was against an order passed by the Nationa...

Eva Agro Feeds Private Limited v. Punjab National Bank and Another

September 6, 2023

REED 2023 SC 09511

The Supreme Court emphasized the need for the Employees Provident Fund Organization (EPFO) to comply with the timelines set by the Insolvency and Bankruptcy Code, 2016, warning of legal consequences for non-compliance and endorsing action against negligent EPFO employees, while also affirming the EPFO's right to proceed in accordance with the law and dismissing the appeal.

In a present Supreme Court order, the delay was condoned. The Supreme Court heard the counsel for the appellant, the Employees Provident Fund Organization (EPFO), and emphasized the importance of adhering to ...

Employees Provident Fund Organization v. Fanendra Harakchand Munot and Another

August 25, 2023

REED 2023 SC 08639

Approval of a resolution plan did not automatically discharge the personal guarantor of a corporate debtor from their liabilities under the guarantee contract.

In the present case, a writ petition was filed by a petitioner seeking to quash a demand notice issued by Rural Electrification Corporation Limited (REC Ltd.) on 09.12.2022, invoking the petitioner's personal guarantees for the outstanding debt of Rs. 1211.91 crores. The petitioner had acted as a personal guarantor for a loan taken by FACOR Power Ltd. from REC Ltd.

REC Ltd., being a state company under the Ministry of P...

Vineet Saraf v. Rural Electrification Corporation Limited

July 21, 2023

REED 2023 Del 07697

The appeal was dismissed as it became moot after the approval of the Resolution Plan, and the Adjudicating Authority's order allowing documents to be filed in a sealed cover was upheld.

In the case at hand, an appeal was filed against an order dated June 5, 2023, issued by the National Company Law Tribunal, New Delhi, referred to as "The Adjudicating Authority." The appeal pertained to the decision made in I.A. No. 1756 of 2023.

The Adjudicating Authority had initiated the Corporate Insolvency Resolution Process (CIRP) against a company named M/s Abloom Infotech Pvt. Ltd. base...

Dauphin Cables Private Limited v. Praveen Bansal

September 11, 2023

REED 2023 NCLAT Del 09514

LATEST CIRCULARS & NOTIFICATIONS

Ministry of Corporate Affairs

File No. 09/01/2023-NCLT/85605/Secy

August 17, 2023

Notification

Insolvency and Bankruptcy Board of India

IBBI Guidelines 2023 Dt. 12-6-2023

June 12, 2023

Guidelines

Ministry of Corporate Affairs

Notification No. S.O. 2660(E).

June 14, 2023

Notification

Ministry of Law and Justice

Ordinance No. 1 of 2023

May 19, 2023

Ordinance

IBC REPORTER

2021 Subscription

India's Leading Monthly Journal For Insolvency Law Practitioners

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