LATEST NEWS ON INSOLVENCY LAW

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

Oct 20, 2021

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

Oct 19, 2021

YES Bank-Dish TV fight it out

Oct 19, 2021

RBI setting out a uniform credit reporting format for the Credit Information Companies - [See Noti.]

Oct 15, 2021

Government assigns additional charge of Chairperson, IBBI to Wholetime Member - Dr Navrang Saini

Oct 14, 2021

RBI grants licences to Small Finance Bank

Oct 13, 2021

Seven NBFCs surrender their Certificate of Registration to RBI

Oct 13, 2021

Advocates boycott work at Debts Recovery Tribunal

Oct 13, 2021

RBI cancels Certificate of Registration of Six NBFCs

Oct 13, 2021

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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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

The Apex Court has recalled the suo motu order of April 27, 2021, which had extended with effect from March 14, 2021 the limitation period for filing of cases in view of the COVID second wave. The Court observed that the suo motu extension of limitation period will stand withdrawn with effect from 2 October 2021. The Supreme Court disposed the M.A. No.665 of 2021 with the following directions:
(I) In computing the period of limitation for any suit, appeal, application or proceeding, the period from 15.03.2020 till 02.10.2021 shall stand excluded. Consequently, the balance perio...

In Re: Cognizance for Extension of Limitation

September 22, 2021

REED 2021 SC 09011

During the course of hearing, learned Attorney General fairly stated that respondent No.1 – Union of India has no objection in accepting the prayer `C’ made by the petitioner Justice A.I.S. Cheema, in the present writ petition and to allow the petitioner to work upto 20.09.2021 as the Officiating Chairperson, National Company Law Appellate Tribunal, New Delhi to enable him to pronounce the judgments prepared by him. Learned Attorney General further submitted that after acceptance of the above-mentioned prayer ‘C’ made by the petitioner in the instant writ petition, consequential...

Justice (Retd) Ashok Iqbal Singh Cheema v. Union of India and Others

September 15, 2021

REED 2021 SC 09536

As observed by the Apex Court in M/s. Innoventive Industries Ltd v. ICICI Bank, REED 2017 SC 08563, the IBC, 2016 is a Single Unified Umbrella Code, covering the entire gamut of the law relating to insolvency resolution of corporate persons and others in a time bound manner. The Code provides a three-tier mechanism namely, (i) the NCLT, which is the adjudicating authority (ii) the NCLAT, which is the appellate authority (iii) the Supreme Court, which is the final authority, for dealing with all issues that may arise in
relation to the re-organisation and insolvency resolution of...

Ideal Surgicals v. National Company Law Tribunal, Kochi and Others

July 1, 2021

REED 2021 Ker 07514

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

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

IBC REPORTER

2021 Subscription

 India's Leading Monthly Journal For Insolvency Law Practitioners 

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