The institution or continuation of a proceeding of dishonour of cheque against company under the provisions of Negotiable Instruments Act, 1888 fall within the ambit of moratorium provision of the IBC.
The pendency of actions under the SARFAESI Act or actions under the RDDBFI Act, 1993 does not create an obstruction for applying Section 7 of Insolvency and Bankruptcy Code 2016, especially given Section 238 of IBC.
No suit or legal proceeding against the company can be commenced or continued against the company after the passing of the winding up order except with the permission of the Tribunal.
By applying Section 17 to arbitrations seated outside India, India shall move a step ahead in ensuring that the assets or subject matter of the dispute located in India are secured expeditiously, and no party can play any kind of dilatory tactics to render such foreign seated interim awards infructuous.
Artificial Intelligence (AI) is significantly transforming India’s judicial system. AI’s integration into the judiciary is addressing the critical issue of case backlogs and inefficiencies by streamlining routine tasks such as case management, scheduling, and legal research.
The Insolvency and Bankruptcy Code, 2016 (IBC) marks a significant milestone in the realm of insolvency and bankruptcy resolution in India. With its passage by Parliament and Presidential assent on May 28, 2016, the IBC revolutionized the legal framework surrounding insolvency and bankruptcy.
Director liability during financial distress- An interplay of the IBC, 2016 and the Companies Act, 2013. It is undisputed that in times of solvency, director’s responsibilities are mainly directed towards shareholders, under the guidance of the Companies Act.
The Insolvency and Bankruptcy Code (for short “I&B Code”), enacted in 2016, marked a significant reform in India’s economic landscape by streamlining the insolvency resolution process and providing a balanced framework.
In a significant ruling, the National Company Law Tribunal (NCLT) Kolkata, comprising Smt. Bidisha Banerjee (Judicial Member) and Shri D. Arvind (Technical Member),
The advent of the Digital Personal Data Protection Act 2023 (DPDPA) marks a pivotal transformation in the realm of data management, exerting a substantial influence on enterprises and their day-to-day functioning.
The Insolvency and Bankruptcy legislation is a comprehensive legislation that contains all of the required provisions for providing a haven for business debtors in difficulty.
The Arbitration and Conciliation Act, of 1996, plays a pivotal role in providing a legal framework for resolving disputes outside the traditional court system.
Arrest is a critical juncture in the criminal justice system, where an individual’s rights must be upheld to ensure a just legal process. India, like many other countries, enshrines specific rights for arrested individuals to protect their dignity and ensure fairness in legal proceedings.
The integration of GSTN with the PMLA would make it easier for different authorities to work together, which is essential for preventing money laundering and maintaining the integrity of the GST system.
Insolvency and Bankruptcy Code, 2016 brings in the concept of Interim Moratorium, which offers protection to individuals during the insolvency process.
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