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Third-party pledgees are not financial creditors under IBC: Supreme Court
A full bench of the Hon’ble Supreme Court comprising of Justices Ashok Bhushan, R. Subhash Reddy and M. R. Shah in the case of Phoenix...
May 18, 20214 min read


Applicability of section 10A of Insolvency and Bankruptcy Code: Prospective or Retrospective?
A Division Bench of the Supreme Court comprising of justices Dr. Dhananjaya Y. Chandrachud and M. R. Shah in the case of Ramesh Kymal v....
May 17, 20213 min read


Crown debts do not take precedence over secured creditors
Calcutta High Court, a Single Judge Bench of the comprising of Justice Sabyasachi Bhattacharya in the case of Kolkata Municipal...
May 15, 20214 min read


SC upholds constitutional validity of sections 3, 4 and 10 of IBC (Amendment) Act, 2020
A three judge Bench of the Hon’ble Supreme Court comprising of Justices Rohington F. Nariman, Navin Sinha and K.M. Joseph in the case of...
May 14, 202115 min read


Related parties cannot be included in the CoC by way of collusive transactions: SC
A three Judge Bench of the Hon’ble Supreme Court comprising of Justices Dr. Dhananjaya Y. Chandrachud, Indu Malhotra and Indira Banerjee...
May 13, 20214 min read


Exercise of inherent powers u/r 11 has limitations and same can't be enlarged to review the decision
NCLAT Rules 2016 Rule 11. Inherent powers Rule 11 of the NCLAT Rules, 2016, relevant for the purposes of disposal of an application, is...
Feb 23, 20215 min read


Fresh IBC suspension till March 2021 may put brakes on stressed asset insolvency resolution process
Suspension of fresh proceedings under the insolvency law as well as the NCLT and the appellate tribunal switching to virtual hearings due...
Jan 4, 20213 min read


Classified as wilful defaulters without furnishing documents is illegal and de hors RBI guidelines
The Calcutta High Court has passed an order Where Petitioners who were directors and guarantors of company were classified as wilful...
Dec 31, 20206 min read


IBC: Can Financial Creditor be referred to Arbitration in an Application filed u/s 7 of the IBC?
Introduction: Earlier this month, the National Company Law Tribunal ("NCLT"), Mumbai Bench, in an unprecedented decision, in Indus...
Jul 13, 20208 min read


Key takeaways from proposed changes to the Insolvency and Bankruptcy Code, 2016
The Union cabinet has approved of proposal to carry out reformatory changes to the Insolvency and Bankruptcy Code, 2016 ('IBC'). A press...
Jul 13, 20204 min read
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