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Assignment of Debt by Related Party After CIRP Commencement to Circumvent CoC Disqualification Is Invalid: NCLAT Dismisses Appeal
NCLAT held that the assignment of debt by a related party after the commencement of CIRP with the intention to circumvent...
May 253 min read


Belated and Resolved Disputes Do Not Bar CIRP Initiation Under Section 9 of IBC: NCLAT Clarifies
NCLAT clarified that belated and resolved disputes do not bar the initiation of the Corporate Insolvency Resolution Process (CIRP) under...
May 253 min read


NCLAT Affirms Absolute Extinguishment of Residual Liabilities Post Going Concern Sale Under IBC
NCLAT has affirmed the absolute extinguishment of residual liabilities following the sale of a corporate debtor as a going concern under...
May 253 min read


Delay in Filing Appeal Without Seeking Certified Copy Bars Relief Under IBC
NCLAT held that a delay in filing an appeal without seeking a certified copy of the impugned order bars relief under the IBC. The...
May 253 min read


NCLAT Upholds Exclusivity of CoC-Approved Resolution Plan, Rejects Promoter’s Attempt to Introduce Alternate Plan During Pending Approval
The NCLAT upheld the exclusivity of the resolution plan approved by the Committee of Creditors and rejected the promoter’s attempt to...
May 253 min read


Loan Disguised as Sale Found to Be Financial Debt: NCLAT Clarifies Scope of Commercial Borrowing under IBC
NCLAT held that a loan transaction disguised as a sale agreement constituted a commercial borrowing and qualified as a financial debt...
May 253 min read


High Court Quashes Unreasoned DRT Order; Emphasises Judicial Application of Mind, Urges Finance Ministry to Consider Officer Training
The High Court quashed an unreasoned order passed by the DRT, emphasised the necessity of judicial application of mind, and urged the...
May 252 min read


Department of Financial Services (DFS) organises a colloquium of Chairpersons of Debts Recovery Appellate Tribunals (DRATs) and Presiding Officers of Debt Recovery Tribunals (DRTs)
Various key initiatives taken by the Department highlighted at the colloquium, such as the adoption of revised DRT Regulations, mandatory...
May 251 min read


NCLAT Upholds CoC Supremacy, Strikes Down Judicial Overreach in Resolution Plan Approval
The NCLAT upheld the supremacy of the Committee of Creditors and struck down the NCLT’s judicial overreach in modifying a duly approved...
May 253 min read


Secured Creditors Have No Priority Over MPID Attachments: Supreme Court Affirms Limits of Article 142 Powers
The Supreme Court held that secured creditors have no priority over properties attached under the MPID Act and reaffirmed that its powers...
May 213 min read
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