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Moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016 does not bar the encashment of a Performance Bank Guarantee
NCLAT held that the moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016 does not bar the encashment of a Performance...
Jul 4, 20242 min read
NCLAT Allows Appeal, Finding Error in Adjudicating Authority's Dismissal of Section 7 Application
NCLAT allowed the appeal, finding an error in the Adjudicating Authority's dismissal of the Section 7 Application. The National Company...
Jul 4, 20242 min read
Classification of Loan as Non-Performing Asset (NPA) Date Constitutes A Date Of Default Under The Insolvency and Bankruptcy Code: NCLAT
NCLAT held that the classification of a loan as a Non-Performing Asset (NPA) date constitutes a Date of Default under the Insolvency and...
Jul 3, 20243 min read
Absent possession by the Corporate Debtor and proof of valid assignment, the Resolution Professional lacks authority to inspect or control assets of a third party
NCLAT held that the absent possession by the Corporate Debtor and proof of a valid assignment, the RP lacks authority to inspect or...
Jul 3, 20242 min read
The intent of the IBC, complemented by the RBI guidelines and Section 10A, is to sustain CDs during unprecedented financial distress, rather than push them into insolvency
NCLAT held that the intent of the IBC, complemented by the RBI guidelines and Section 10A, was to sustain corporate debtors during the...
Jul 2, 20243 min read
An application is considered filed when presented at the registry, not when it is numbered: NCLAT
NCLAT held that an application is considered filed when presented at the registry, not when it is numbered. National Company Law...
Jul 2, 20242 min read
Once a Resolution Plan is approved, all pre-approval claims are barred, thereby prohibiting reassessment actions under Section 144B of the Income Tax Act, 1961
Delhi High Court held that once a Resolution Plan is approved, all pre-approval claims are barred, thereby prohibiting reassessment...
Jun 29, 20242 min read
In cases where insolvency proceedings precede an attachment by the ED, the liquidation process under the NCLT takes precedence
High Court held that in cases where insolvency proceedings precede an attachment by the Enforcement Directorate, the liquidation process...
Jun 29, 20242 min read
Once A Resolution Plan Is Approved, All Pre-existing Statutory Dues Not Included In The Plan, are Extinguished And Cannot Be Claimed by Government Authorities
Delhi High Court held that once a resolution plan is approved, all pre-existing statutory dues not included in the plan, are extinguished...
Jun 28, 20242 min read
A Writ Is Not Maintainable For Disputes Arising From A Private Employment Contract, As Such Disputes Do Not Involve Public Functions or Public Law Elements
Allahabad High Court held that a writ under Article 226 of the Constitution is not maintainable for disputes arising from a private...
Jun 28, 20242 min read
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