LATEST NEWS ON INSOLVENCY LAW

If maintenance of premises is liability of OC, it cannot be a ground to reject Section 9 Application

Nov 25, 2022

If the Secured Creditor takes action under SARFAESI Act, it would not bar the arbitration proceeding

Nov 24, 2022

SC deprecate the practice of entertaining writs by High Courts without exhausting alternative remedy

Nov 23, 2022

The Insolvency and Bankruptcy Code is structured around timebound resolution of the corporate debtor

Nov 22, 2022

RBI announces premature redemption of Sovereign Gold Bond 2017-18 Series VIII due on 19 November '22

Nov 21, 2022

The onus comes back to the CD to ensure that the amount is paid to the Operational Creditor: NCLAT

Nov 21, 2022

If the members refuse to participate in the CoC meeting, RP has no option but to approach the AA

Nov 19, 2022

RBI assigns Lead Bank responsibility for the formation of new districts in the state of Nagaland

Nov 19, 2022

Seller is bound to disclose any material defect in the property of which the buyer is not aware

Nov 19, 2022

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

Learned Senior Advocate appearing for the petitioner submitted that the order presently under challenge has relied upon two previous orders passed by NCLAT--(i) Varrasana Ispat Limited v. Deputy Director of Enforcement, REED 2019 NCLAT Del 05510 and (ii) Kiran Shah vs. Enforcement Directorate, REED 2022 NCLAT Del 01502.
The Learned Counsel also invited court's attention to the orders passed by the NCLAT in both the matters. The judgment dated 02.05.2019, REED 2019 NCLAT Del 05510, in the first matter the judgment made it clear that the order of attachment made by Deputy Direct...

Ashok Kumar Sarawagi v. Enforcement Directorate and Another

November 1, 2022

REED 2022 SC 11560

Supreme Court Bench observed that Rupees One crore was lying in deposit with the Registry of the Supreme Court pursuant to the order dated 26 August 2022. The Bench directed the amount of Rupees One crore shall be distributed pro rata to the fifteen applicants within three weeks. The Bench further directed that the disbursal shall be made to the home buyers subject to their filing undertakings that if there is an outstanding loan due to any bank or financial institution, the amount which is received pro rata shall be utilized in repaying the loan....

Chandrani Banerjee v. R.K. Arora and Others

October 14, 2022

REED 2022 SC 10545

CS(COMM) 8/2021 was a summary suit filed on behalf of Axis Trustee Services Limited under Order XXXVII of the CPC seeking recovery of EUR 64,751,108.73 from the defendants no.1 and 2. Defendants no.1 and 2 are the ex-promoters of Bhushan Steel Limited (renamed as Tata Steel BSL Limited)/the borrower.
CS(COMM) 20/2021 was a summary suit filed on behalf of Norddeutsche Landesbank under Order XXXVII of the CPC seeking recovery of EUR 44,102,086.02/- from the defendants, being personal guarantors, in respect of three Guarantee Agreements executed in favour of the plaintiff for secur...

Axis Trustee Services Limited and Another v. Brij Bhushan Singal and Another

November 4, 2022

REED 2022 Del 11530

If maintenance of premises is the liability of the Operational Creditor in which there are certain lapses, these issues cannot be a ground to reject the Section 9 Application....

Anubha Sinha v. JN Hotels Private Limited and Another

November 24, 2022

REED 2022 NCLAT Del 11584

LATEST CIRCULARS & NOTIFICATIONS

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

Insolvency and Bankruptcy Board of India

Order No. IBBI/DC/133/2022

October 12, 2022

Order

IBC REPORTER

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