Can financial creditor approach NCLT while the petition is pending in NCDRC?
The homebuyers who wish to seek refund of their amount are legally entitled to approach National Company Law Tribunal (NCLT) under IBC.
Search Results for: case against the corporate debtor
Promoters and Shareholders Promoters are not Creditors under IBC
The shareholders and promoters are not the creditors and thereby the resolution plan cannot balance the maximization of the value of assets of the corporate debtor
Liabilities of the directors or Promoters or partners during or before the Insolvency Resolution Process
The powers of the management of controlling the assets of the Corporate Debtor or Company is transferred to the Resolution Professional or the liquidator as the case may be.
Persons upon whom the Insolvency code is applied
The code is not applicable to corporates in finance sector. Thus no petition shall be entertained by NCLT filed against Banks, Financial Institutions, Insurance Company, Asset Reconstruction Company, Asset Reconstruction Company, Mutual Funds, Collective Investment Schemes or Pension Funds.
Who all are Operational Creditors
operational creditors are those creditors where liabilities arise from transactions on operations.
RERA or IBC-Under which law Homebuyers are well protected?
RERA or IBC- Both the laws provides with the subjective approach depending upon the facts of the case and the situation of the developer.
All about RBI diktat in invoking Insolvency Resolution
Reserve Bank of India Governor Urjit Patel put his signature to a historic order for recovering over Rs 3 lakh crore from the top 12 defaulters, just 10% is in banks
IBC latest amendments have helped small stakeholders but delayed the process
The latest ordinance has brought about a lot of changes to the IBC giving relief to small stakeholders and homebuyers but this relief has caused delays in executing the process.
Promoters abusing IBC, contends stakeholders of TechPro and Educomp
The IBC in section 29A bars promoters to take part in bidding process thus making them ineligible for representation in the committee of creditors.
Homebuyers get a relief under the Insolvency and Bankruptcy Code, 2016
Homebuyer is a person who buys or expects to buy a house. And A promoter is an individual or organization that helps raise money for some type of investment activity.
What further action can be taken by operational creditor on non-payment of debt?
This article is about the further actions to be taken by the Operational creditor after serving a demand notice on Operational debtor.
Mobilox v Kirusa- Supreme Court interprets ‘existence of dispute’ as per IBC
The Supreme Court of India in Mobilox Innovations Private Limited v Kirusa Software Private Limited has finally settled the widely debated question of what constitutes “existence of a dispute”.
Gemini’s bankruptcy petition stands rejected before NCLT
The National Company Law Tribunal has dismissed an insolvency application filed by Gemini Innovations, raising doubts over the “unnatural” facts listed by the company in its filing
Insolvency Resolution by Operational Creditor (Section 8)
An operational creditor as defined under s 5(20) of the Insolvency and Bankruptcy Code as a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred
Company is under Liquidation- Compulsory or Voluntary
article we will discuss about Compulsory and Voluntary Liquidation and how it is helpful for the Corporate Creditor against their debtor/s.
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