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Adjudicating Authority Cannot Examine Merits in Section 95 Application Without Resolution Professional’s Report under Section 99 of IBC
NCLAT held that the Adjudicating Authority lacked the power to examine the merits in Section 95 applications until it had received the...
Nov 12, 20243 min read
Enhancing Real Estate Insolvency Resolutions: Public Consultation on Key Proposals for Stakeholder Engagement and Efficiency
The Insolvency and Bankruptcy Board of India (IBBI) has released a discussion paper inviting public comments on proposed changes in the...
Nov 11, 20243 min read
Timely Implementation of Resolution Plans: Supreme Court Reaffirms IBC's Core Objective of Asset Preservation and Efficient Insolvency Resolution
The Supreme Court reaffirmed the IBC's core objective of asset preservation and efficient insolvency resolution through the timely...
Nov 11, 20243 min read
Govt to Introduce Creditor Led Resolution Process (CLR): New Out-of-Court Mechanism for Quick Resolutions with Limited NCLT Involvement
The Centre is poised to introduce significant amendments to the Insolvency and Bankruptcy Code (IBC) and the Companies Act, with plans to...
Nov 8, 20241 min read
Failure to Submit a Repayment Plan Entitles Creditors to Initiate Bankruptcy Proceedings Against the Personal Guarantor as a Statutory Consequence
NCLAT held that the Personal Guarantor’s failure to submit a repayment plan entitled creditors to initiate bankruptcy proceedings as a...
Nov 7, 20242 min read
Supreme Court Upholds CoC's Commercial Wisdom: SEZ Dues Extinguished in Approved Resolution Plan Under IBC’s Overriding Provisions
The Supreme Court upheld the commercial wisdom of the Committee of Creditors, ruling that SEZ dues were extinguished under the approved...
Nov 6, 20243 min read
IBBI Seeks Public Comments on Proposed Mediation Framework for Operational Creditors Before Section 9 Insolvency Applications
In a significant move towards enhancing dispute resolution mechanisms under the Insolvency and Bankruptcy Code (IBC), the Insolvency and...
Nov 6, 20242 min read
IBBI and IBA Launch Centralized eBKray Platform to Enhance Transparency and Recovery in IBC Liquidation Auctions
In a transformative step for asset liquidation under the Insolvency and Bankruptcy Code (IBC), the Insolvency and Bankruptcy Board of...
Nov 5, 20243 min read
Supreme Court Mandates Strict Compliance with MSME Revival Framework Before NPA Classification by Banks
The Supreme Court mandated strict compliance with the MSME revival framework by banks before classifying loan accounts as NPAs. The...
Nov 4, 20242 min read
Strict Enforcement of Protections Against NPA Classification and Recovery Actions by Banks: MSME Borrowers Demand
The National MSME Borrowers Association recently emphasized the urgent need for the enforcement of a 2015 Notification that mandates a...
Nov 4, 20241 min read
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