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Moratorium under the IBC cannot protect the applicant from proceedings under Section 138/141 of the Negotiable Instruments Act for his vicarious liability
Allahabad High Court held that the moratorium under the IBC cannot protect the applicant from proceedings under Section 138/141 of the...
Jun 28, 20243 min read
Insolvency and Bankruptcy Board of India (IBBI) Invites Applications for the Post of Whole Time Member
The Insolvency and Bankruptcy Board of India (IBBI) invites applications for the position of Whole Time Member at the IBBI, established...
Jun 8, 20242 min read
Insolvency and Bankruptcy Code applies to personal guarantors to corporate debtors but not to partnership firms and their directors unless explicitly stated
High Court rules that the Insolvency and Bankruptcy Code applies to personal guarantors to corporate debtors but not to partnership firms...
Jun 3, 20242 min read
Supreme Court Rules the Existence of a Mortgage and Recoverable Loan Amounts Justify Proceedings under the SARFAESI Act
Supreme Court rules the existence of a mortgage and recoverable loan amounts justify proceedings under the SARFAESI Act. The Three-Judge...
May 31, 20242 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
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
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
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
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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