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Compulsorily Convertible Debentures (CCDs) Without Repayment Obligation Are Not 'Financial Debt' under the Insolvency and Bankruptcy Code, 2016
NCLAT held that the Compulsorily Convertible Debentures(CCDs), which do not carry any obligation for repayment but are mandatorily...
May 23, 20242 min read


Lender Bank's Registration of Its Mortgage With the CERSAI has Priority Over the Property as Compared to the DCST under the SARFAESI Act
Bombay High Court held that the lender bank's registration of Its mortgage with the CERSAI has priority over the property as compared to...
May 23, 20242 min read


Eighteen States Including Two Union Territories Lack Debts Recovery Tribunals (DRTs): Centre Informs Supreme Court
In a session presided over by Justices Abhay S. Oka and Justice Ujjal Bhuyan, the Supreme Court bench was informed by the Centre during...
May 22, 20242 min read


MSME Interest Cannot Be Claimed To Trigger The Threshold Limit Under IBC If It Has Not Been Registered As An MSME During The Relevant Periods
MSME interest cannot be claimed to trigger the threshold limit under IBC since then it has not registered as an MSME during the relevant...
May 21, 20243 min read


NCLAT Determines the Loan Recall Notice Date Might Not Be Considered the Relevant Date of Default under the Insolvency and Bankruptcy Code
NCLAT has determined that the Loan Recall Notice Date might not be considered the relevant Date of Default under the Insolvency and...
May 20, 20243 min read


Enhancing Insolvency Resolution: IBBI Proposes Extending Response Time for Default Confirmation from 9 to 21 Days
Insolvency and Bankruptcy Board of India (IBBI) proposes extending the response time for default confirmation from 9 to 21 Days to...
May 17, 20242 min read


Property auctioned under the SARFAESI Act cannot be included in the moratorium assets under Section 14 of the IB Code
Property auctioned under the SARFAESI Act cannot be included in the moratorium assets under Section 14 of the Insolvency and Bankruptcy...
May 17, 20242 min read


The Limitation Period for Initiating the CIRP can be Extended Based on the Acknowledgement of Debt and Issuance of Recovery Certificates
NCLAT Chennai held that the Limitation period for initiating the CIRP can be extended based on the acknowledgement of debt and issuance...
May 16, 20242 min read


Supreme Court allows Compromise Settlement between Anjani Realtors and Indarprashtha Buildtech to Close CIRP
Supreme Court allows compromise settlement between Anjani Realtors Private Limited and Indarprashtha Buildtech Private Limited to Close...
May 16, 20242 min read


Acknowledgement of the Debt by the Guarantor Extends the Limitation Period
NCLAT Principal Bench held that the acknowledgement of the debt by the guarantor extends the limitation period. The National Company Law...
May 15, 20242 min read
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