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LATEST NEWS ON INSOLVENCY LAW

Standard Penalty Provisions and Security Measures in the Agreement Cannot Alter the Fundamental Character of the Transaction

Feb 29, 2024

Supreme Court's Personal Guarantor Insight Empowers Creditors in Insolvency Maze under IBC

Feb 25, 2024

The Written Agreement Is Not Mandatory To Establish A Financial Debt Under The IB Code

Dec 8, 2023

SC declined to reconsider its ruling, asserting that one Bench cannot critique another's decision

Nov 4, 2023

NCLAT rejects the Appellant's claim in line with a recent SC ruling, adhering to regulatory timeline

Nov 3, 2023

Irrevocable and unconditional Bank Guarantees can be Invoked during the Moratorium under the IBC

Oct 20, 2023

NCLAT Bench Violate a Supreme Court Ruling? Supreme Court Orders Chairperson to Investigate

Oct 14, 2023

The limitation for filing appeals under IBC starts from the date when the court pronounces the order

Oct 14, 2023

Claims & disputes should be raised promptly in commercial transactions to avoid complications: NCLAT

Oct 12, 2023

MOST VIEWED

Sep 14, 2023

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

The Supreme Court emphasized the need for the Employees Provident Fund Organization (EPFO) to comply with the timelines set by the...

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...

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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 Insolvency and Bankruptcy Code, 2016 does not expressly permit insolvency set-off during the Corporate Insolvency Resolution Process (CIRP), emphasizing the absence of statutory provision for set-off, except in specific cases of contractual set-off effective before or on CIRP commencement and 'transactional set-off' where claims are closely connected.

In a notable Supreme Court judgment addressing a pivotal question related to the right to claim set-off in the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016, Bharti Airtel Limite...

Bharti Airtel Limited and Another v. Vijaykumar V. Iyer and Others

January 3, 2024

REED 2024 SC 01515

The Supreme Court held that the amended Section 30(2)(b)(ii) of the Insolvency and Bankruptcy Code, 2016, entitles dissenting financial creditors to a payment not less than the amount under Section 53(1) in the event of liquidation, emphasizing the protection of dissenting creditors' rights and rejecting the notion of preferential treatment over other secured creditors, thereby upholding the NCLAT's orders and suggesting a reference to a larger Bench for further clarification.

In a recent Supreme Court judgment, the key focus was on Section 30(2)(b)(ii) of the Insolvency and Ba...

DBS Bank Limited Singapore v. Ruchi Soya Industries Limited and Another

January 3, 2024

REED 2024 SC 01514

The High Court remanded the matter to the Board, finding non-compliance with Regulation 12(5) of IBBI (Inspection and Investigation) Regulations, 2017 in the show-cause notice, directing the Board to provide the petitioner with the Final Inspection Report, allowing a revised reply, and setting aside the impugned order.

The petitioner had approached the Court challenging the Order dated 18.08.2022, passed by the Disciplinary Committee of the Insolvency and Bankruptcy Board of India, which is referred to as "the Board." The petitioner, an Interim Resolution Professional (IRP), wa...

Savan Godiawala v. Insolvency and Bankruptcy Board of India

January 11, 2024

REED 2024 Del 01544

In a set of two appeals filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 ("IBC"), the National Company Law Appellate Tribunal (NCLAT) considered the common order dated 04.12.2023 passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench, Court-II) in CP (IB) 4058 (MB) 2019. The Adjudicating Authority, through the impugned order, allowed the Resolution Professional's application for initiating the liquidation of Corporate Debtor-Bil Energy Systems Limited under Section 33 of the IBC and dismissed the appeal filed by a prospective resoluti...

Mayank Goyal v. G. Madhusudhan Rao and Another

February 23, 2024

REED 2024 NCLAT Del 02562

LATEST CIRCULARS & NOTIFICATIONS

Ministry of Law and Justice (Legislative Department)

Act No. 32 of 2023

September 15, 2023

Gazette of the Act

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

IBC REPORTER

2021 Subscription

India's Leading Monthly Journal For Insolvency Law Practitioners

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