It is more crucial than ever to have an IBC-based legal framework to handle cross-border conflicts as the globalization of business and trade reaches new heights.
Category: Debt Recovery Management
Are the principal amount and the interest levied dependent on each other for the purpose of section 7?
A recently evolved notion of co-relation of Principal amount and interest levied on it, for the purpose of Section 5(8) of the code and its implication in the application filed under Section 7.
Landowner in a development agreement cannot be considered a Financial Creditor
The Corporate Debtor would carry on construction and out of total saleable construction 32% will be of landowner and remaining 68% will be of the Corporate Debtor.
Appeals and Limitations under Section 17 of the Limitations Act
Since a specific limitation period for filing such an appeal is clearly mentioned, Section 17 of the Limitation Act could not be applied here.
Water connection cannot be restored automatically to the successful resolution applicant
The Successful Resolution Applicant requested Maharashtra Industrial Development Corporation (hereinafter referred to as MIDC) for a new water connection to revive the operations at the plant of the Corporate Debtor.
Putting Resolution Professionals under the spotlight: The latest IBC Amendments
The resolution professional (RP), appointed under the Code, is at the heart of these endeavors and has the mandate to complete this process in a time-bound manner.
Wages/salaries of only those employees who worked during the Corporate Insolvency Resolution Process are to be included in CIRP costs, rules SC
The claims filed/to be submitted by the workers of the appellant must be decided upon and taken into consideration by the Liquidator even if RP has not submitted the claims towards the wages/salaries as part of CIRP costs.
INTRODUCTION OF PRE-PACKS
Pre-pack mechanism, differs from the existing corporate insolvency resolution process (CIRP) and what challenges this new mechanism is likely to bring.
Role of Mediation in the Insolvency Process
Specifically in insolvency proceedings, mediation as a tool can be employed to resolve issues and clear the bottleneck in the resolution process which had led to delays.
Analysis of the Pre-Packaged Insolvency Resolution Process and its advantages as compared to the CIRP
The Pre-Packaged Insolvency Resolution Process (PPIRP) mechanism have helped the MSMEs to a great extent in order to revive their operations as a going concern.
Cheque Bouncing Versus Insolvency– Whether proceedings under Section 138 and 141 of N.I. Act, 1881 can be initiated against Corporate Debtor during Moratorium period?
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.
Structure of Pre-packaged Insolvency Resolution Process
A brief information of how a PPRIRP works in the real sense, making the resolution of Micro, small and medium scale enterprises not just speedy but also smooth.
Unregistered Partnership Firm Cannot Initiate Insolvency Proceedings Under IBC: NCLT Kochi
The Bangalore Sales Corporation v Sark Spice Products Pvt. Ltd., the National Company Law Tribunal (“NCLT”), Kochi Bench, comprised of Shri. P. Mohan Raj (Judicial Member) and Shri. Satya Ranjan Prasad (Technical Member), held that an unregistered Partnership Firm cannot institute insolvency proceedings under IBC.
NCLT Delhi Imposes Cost of Rs.1 Lakh on Suspended Director
The court fined the suspended director of the corporate debtor (the applicant) Rs. 1 lakh for starting several legal actions to obtain the same remedy and wasting valuable judicial time.
NCLAT Chennai condones a delay of 147 days in filing of Appeal before the Appellate Tribunal
The National Company Law Appellate Tribunal in the matter of M. K. Resely & Ors. Vs Union Bank of India has condoned a delay of 147 days in filing of appeal before NCLAT upon equity.
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