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The Failure to Implead the Successful Auction Purchaser as a Necessary Party, Violates the Principles of Natural Justice
NCLAT held that the failure to implead the successful auction purchaser as a necessary party violated principles of natural Justice. The...
May 29, 20242 min read
Section 32A of the IBC Provides Automatic Immunity from Prosecution and Attachment for Corporate Debtors with Approved Resolution Plans
High Court held that Section 32A of the IBC provides automatic immunity from prosecution and attachment for corporate debtors with...
May 29, 20242 min read
NCLAT Affirms Successful Resolution Applicant Met All Conditions Precedent for Implementing Jet Airways' Resolution Plan
NCLAT affirms that the Successful Resolution Applicant met all conditions precedent for the implementation of Jet Airways' Resolution...
May 28, 20243 min read
High Court Directs ICICI Bank Chairman to Justify Use of Recovery Agents Despite Supreme Court Ban
High Court directs the Chairman of ICICI Bank to file a personal affidavit explaining the rationale behind engaging recovery agents...
May 28, 20242 min read
Once a Resolution Plan is Approved by the Committee of Creditors, It Cannot Be Withdrawn or Modified by the Resolution Applicant
Supreme Court held that once a resolution plan is approved by the Committee of Creditors, it cannot be withdrawn or modified by the...
May 27, 20242 min read
NCLAT Set Aside the Order of NCLT; Priority of Corporate Debtor Revival Over Liquidation is the Objective of the IBC
NCLAT held that the Insolvency and Bankruptcy Code's objective is to corporate debtor revival as a priority over liquidation. The...
May 27, 20243 min read
Insolvency and Bankruptcy Code Provisions do not Override Third-Party Rights to Control and Regulate Their Properties
NCLAT held that the Insolvency and Bankruptcy Code provisions do not override third-party rights to control and regulate their...
May 26, 20242 min read
Secured Creditors, Including Debenture Holders, are Obligated to Contribute to Liquidation Costs under the Insolvency and Bankruptcy Code
Secured creditors, including debenture holders, are obligated to contribute to liquidation costs under the Insolvency and Bankruptcy...
May 25, 20243 min read
The Moratorium Remains Effective Until the Resolution Plan is Approved or the Liquidation Order is Passed, Not Merely upon the Expiry of the CIRP Period
NCLAT held that the moratorium remains effective until the resolution plan is approved or the liquidation order is passed, not merely...
May 25, 20242 min read
NCLAT Rules that A Corporate Debtor, by Acquiring Encumbered Property under the SARFAESI Act, Inherits the Financial Debt as per the IBC
NCLAT rules that a Corporate Debtor, by acquiring encumbered property under the SARFAESI Act, inherits the financial debt as per the IBC....
May 24, 20243 min read
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