Every effort to be made to revive the Corporate Debtor, liquidation should be the last resort: NCLAT
The NCLAT New Delhi held that in every effort to be made to revive the Corporate Debtor, liquidation should be the last resort. The...
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REEDNews
Latest News on the Banking, Insolvency and Bankruptcy laws
- Feb 16
- 1 min
IBBI announces final panel of Insolvency Professionals for the period of 1 January to 30 June 2023
The Insolvency and Bankruptcy Board of India (IBBI) announced the final panel of Insolvency Professionals for the period of 1 January...
27 views
- Feb 10
- 2 min
NCLAT New Delhi dismisses the appeal filed by the IBBI as it is misconceived and not maintainable
The National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi comprising Justice Rakesh Kumar Jain, Judicial Member and...
17 views
- Feb 1
- 3 min
Section 9 Application cannot be accepted if the dispute raised by the CD is not a moonshine dispute
The NCLAT Delhi bench today held that Section 9 Application cannot be accepted if the dispute raised by the Corporate debtor is not a...
39 views
- Feb 1
- 2 min
National Company Law Tribunal prescribes Dress Code for the Court's members and practitioners
In supersession of the National Company Law Tribunal (NCLT)'s order dated 2.8.2016 and 14.11.2017, and in the exercise of the powers...
59 views
- Feb 1
- 2 min
Any letter by the CD mentioning dues of loan amount has to be treated as an acknowledgement of dues
The NCLAT Delhi held that Any letter by the Corporate Debtor mentioning dues of the loan amount has to be treated as an acknowledgement...
13 views
- Jan 24
- 2 min
There should be a cadre of insolvency professionals so that they are accountable to a body
The Chairperson of the National Company Law Appellate Tribunal, Principal Bench, New Delhi, Justice Ashok Bhushan (the former judge of...
8 views
- Jan 20
- 2 min
Insolvency and Bankruptcy Board of India organises an Insolvency Professionals Conclave in Chennai
The Insolvency and Bankruptcy Board of India (IBBI), in association with the three Insolvency Professional Agencies, namely, the Indian...
17 views
- Jan 19
- 3 min
An approved scheme of merger has statutory force and binding on all stakeholders including creditors
The NCLAT New Delhi Bench held that an approved scheme of amalgamation/ merger has the statutory force and is binding on all stakeholders...
11 views
- Jan 13
- 2 min
Discretion is vested with the Adjudicating Authority to admit or not admit the section 7 Application
The NCLAT Delhi dismissed the section 7 Application and held that the discretion is vested with the Adjudicating Authority to admit or...
23 views
- Jan 12
- 4 min
NCLAT Delhi: The initiation of CIRP itself has been found to be tainted and faulty
The NCLAT Delhi held that the initiation of CIRP itself has been found to be tainted and faulty and set aside the admission order under...
74 views
- Jan 10
- 2 min
Removal of a Resolution Professional by the Adjudicating Authority cannot be challenged: NCLAT Delhi
The NCLAT New Delhi held that the Removal of a Resolution Professional by the Adjudicating Authority cannot be challenged. The National...
62 views
- Jan 10
- 1 min
IBBI finalises the panel of Insolvency Professionals for the period of January 1 to June 30, 2023
Insolvency and Bankruptcy Board of India (IBBI) finalised the Panel of Insolvency Professionals (IPs) for the period from January 1, 2023...
9 views
- Jan 10
- 1 min
IBBI announces provisional list of Insolvency Professionals for appointment as IRP, RP & Liquidator
Insolvency and Bankruptcy Board of India (IBBI) announced the provisional list of Insolvency Professionals prepared in accordance with...
3 views
- Jan 5
- 4 min
Sec 9 IBC Application to be allowed to continue as it would yield proper insolvency resolution of CD
The NCLAT New Delhi held that the Section 9 IBC Application to be allowed to continue as it would yield proper insolvency resolution of...
31 views
- Dec 23, 2022
- 4 min
NCLAT set aside the order of NCLT and directed AA to pass an order of admission of Sec 9 Application
Citation: REED 2022 NCLAT Del 12574 The NCLAT New Delhi Bench set aside the order of NCLT and directed AA to pass an order of admission...
46 views
- Dec 22, 2022
- 1 min
IBBI provides "Proforma for Reporting the Liquidator’s Decision different from the Advice of SCC
Sub-regulation (1) of regulation 31A of the IBBI (Liquidation Process) Regulations, 2016 (Liquidation Regulations) provides that the...
15 views
- Dec 21, 2022
- 2 min
No injunction can be granted by any civil court in respect of any action taken u/s 430 Companies Act
Calcutta High Court held that no injunction can be granted by any civil court in respect of any action taken under section 430 Companies...
25 views
- Dec 20, 2022
- 2 min
Govt to amend Insolvency & Bankruptcy Code, 2016 to reduce the time taken for the resolution process
The Central Government is looking to amend the insolvency law in order to reduce the time taken for or completion of the resolution...
40 views
- Dec 20, 2022
- 7 min
Petitioner meets sufficient compliance with Section 21 of Arbitration and Conciliation Act: Delhi HC
The Delhi High Court held the Petitioner meets sufficient compliance with Section 21 of the Arbitration and Conciliation Act, 1996. The...
58 views
- Dec 18, 2022
- 2 min
e-filing of documents would duly be taken into consideration for the purpose of limitation: Delhi HC
The Delhi High Court noted that the e-filing of documents would duly be taken into consideration for the purpose of computation of...
25 views
- Dec 16, 2022
- 2 min
NCLAT Delhi: Allegations of fraud and forgery are very easy to make but very difficult to prove
The NCLAT New Delhi held that allegations of fraud and forgery are very easy to make but very difficult to prove. The National Company...
49 views
- Dec 15, 2022
- 2 min
Kiren Rijiju the Union Law Minister reiterated in Parliament over judges appointments
Law Minister Kiren Rijiju was responding to a question in parliament on a large number of pending cases when he reiterated his criticism...
31 views
- Dec 15, 2022
- 1 min
Insolvency Professional to act as IRPs, Liquidators, RPs & BTs (Recommendation) IInd Guidelines 2022
At the time of reference/ directions received from the Adjudicating Authority (AA), the Insolvency and Bankruptcy Board of India (Board)...
17 views
- Dec 14, 2022
- 2 min
HC order to the DRT-"Not to pass any adverse orders in any of the cases" is unsustainable: SC
The Supreme Court noted that such an interim order of "not to pass any adverse orders in any of the cases" by the Judicial Member of the...
38 views
- Dec 12, 2022
- 3 min
Appellant has failed to establish that CD owed an amount to the Appellant and it defaulted: NCLAT
The NCLAT held that the Appellant has failed to establish that the Corporate Debtor owed an amount to the Appellant and it defaulted. The...
25 views
- Dec 11, 2022
- 2 min
Resolution Applicant cannot seek further extension of time to submit resolution plan: NCLAT Delhi
The NCLAT Principal Bench held that Once the Appellant showed their disinclination in the resolution process, they cannot seek further...
18 views
- Dec 10, 2022
- 4 min
If the whole business of the CD is to defraud, then the ingredients of section 66 IBC are fulfilled
The NCLAT Chennai held that If the whole business of the Corporate Debtor is to defraud, then the ingredients of section 66 IBC are...
60 views