If maintenance of premises is liability of OC, it cannot be a ground to reject Section 9 Application
The NCLAT held that if maintenance of premises is the liability of the Operational Creditor in which there are certain lapses, these...
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Latest News on the Banking, Insolvency and Bankruptcy laws
- 5 days ago
- 6 min
If the Secured Creditor takes action under SARFAESI Act, it would not bar the arbitration proceeding
The Delhi High Court held that If the Secured Creditor takes action under section 17 of the SARFAESI Act, it would not bar the...
23 views
- 6 days ago
- 12 min
SC deprecate the practice of entertaining writs by High Courts without exhausting alternative remedy
Supreme Court deprecates the practice of entertaining writ Petitions by High Courts without exhausting alternative remedy. Supreme Court...
27 views
- 6 days ago
- 8 min
The Insolvency and Bankruptcy Code is structured around timebound resolution of the corporate debtor
The Disciplinary Committee (DC) of the Insolvency and Bankruptcy Board of India (Board) noted that the Code is structured around the...
23 views
- Nov 21
- 1 min
RBI announces premature redemption of Sovereign Gold Bond 2017-18 Series VIII due on 19 November '22
The Reserve Bank of India (RBI) announces the redemption price for premature redemption due on November 19, 2022 (November 20, 2022,...
1 view
- Nov 21
- 4 min
The onus comes back to the CD to ensure that the amount is paid to the Operational Creditor: NCLAT
The NCLAT Chennai held that the onus/liability comes back to the Corporate Debtor to ensure that amount is paid to the Operational...
15 views
- Nov 19
- 4 min
If the members refuse to participate in the CoC meeting, RP has no option but to approach the AA
The NCLAT held that If the CoC members having a majority voting share refuse to participate in the CoC meeting thereby causing a...
24 views
- Nov 19
- 1 min
RBI assigns Lead Bank responsibility for the formation of new districts in the state of Nagaland
The Government of Nagaland has notified the formation of four new districts in the state of Nagaland vide Gazette Notifications No....
8 views
- Nov 19
- 3 min
Seller is bound to disclose any material defect in the property of which the buyer is not aware
The Supreme Court held that the seller is bound to disclose to the buyer any material defect in the property of which the buyer is not...
87 views
- Nov 18
- 4 min
Preliminary views cannot be considered voting instructions by the creditors: IBBI
The Disciplinary Committee (DC) of the IBBI on Tuesday held that the second proviso to Regulation 16A(9) of the CIRP Regulations states...
22 views
- Nov 18
- 3 min
Supreme Court to decide whether PMLA overrides IBC?
The Supreme Court of India (SC) is anticipated to decide in the coming days whether the Prevention of Money Laundering Act, 2002 (PMLA)...
57 views
- Nov 17
- 1 min
Reserve Bank of India Governor meets Public and Private Sector Banks' MDs and CEOs
The Governor, of the Reserve Bank of India (RBI), held meetings with the MD & CEOs of Public Sector Banks and certain Private Sector...
5 views
- Nov 17
- 2 min
NCLAT Delhi finds the non-speaking order of AA is a violation of the principle of natural justice
The NCLAT held that the impugned order was in violation of the principle of natural justice because the impugned order was a non-speaking...
31 views
- Nov 16
- 3 min
Adjudicating Authority has no role in implementing the penal provisions of the Code: NCLAT New Delhi
NCLAT, New Delhi held the Adjudicating Authority has no role in implementing the penal provisions of the Insolvency and Bankruptcy Code....
26 views
- Nov 16
- 1 min
Shri Vivek Joshi, Secretary, Department of Financial Services, nominated on RBI Central Board
The Central Government has nominated Shri Vivek Joshi, Secretary, Department of Financial Services, Ministry of Finance, Government of...
0 views
- Nov 15
- 1 min
Govt asks to close loss-making Public sector companies by filing insolvency application under IBC
India has asked state-owned firms to consider moving the country's insolvency court to shut loss-making units, hoping for speedier...
111 views
- Nov 15
- 2 min
RBI announces "Award scheme for writing books originally in Hindi on Economics, Banking & Financial"
Award scheme for writing books originally in Hindi on Economics/Banking/Financial subjects Year 2021-2022 With a view to encouraging...
3 views
- Nov 15
- 4 min
SR Applicant cannot be subjected to surprise claims which are not part of the Resolution Plan
The National Company Law Appellate Tribunal (NCLAT), New Delhi Bench comprising Justice Ashok Bhushan, Dr. Alok Srivastava and Barun...
31 views
- Nov 15
- 3 min
A genuine dispute which requires further investigation, cannot be subject to a Section 9 proceeding
The National Company Law Appellate Tribunal (NCLAT), New Delhi Bench comprising Justice Ashok Bhushan, Chairperson and Barun Mitra,...
12 views
- Nov 14
- 4 min
Declaring CoC being in order with aid of OCs, despite absence of sole FC, is a serious contravention
The Disciplinary Committee (DC) of the Insolvency and Bankruptcy Board of India (Board), noted that the Code has carefully vested...
24 views
- Nov 14
- 4 min
Civil Court has jurisdiction to try a suit filed by a borrower against a bank/ financial institution
The Supreme Court held that the Civil Court has jurisdiction to try a suit filed by a borrower against a bank or financial institution....
39 views
- Nov 10
- 2 min
Invocation of Rule 11 of the NCLAT Rules, 2016 cannot be pressed only to replace the IRP
The NCLAT, Chennai Bench held that the invocation of Rule 11 of the NCLAT Rules, 2016 cannot be pressed into service, in the teeth of the...
21 views
- Nov 10
- 5 min
Proceeding in good faith in a forum which is unable to entertain for like nature may save limitation
The Supreme Court Bench comprising Justices Indira Banerjee and J.K. Maheshwari was hearing an interesting issue of limitation in an...
5 views