Limitation and Insolvency Laws (IBC)
The apex court held that the Code isn’t a machinery for recovery though its usage in several perspectives still be within the nature of a recovery system.
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What constitutes a “Dispute” under the IBC as per the Supreme Court?
The Supreme Court clarified the code’s object while keeping legislative intent in mind. The court, through this judgement, has struck a balance between creditors’ rights and debtor companies’ remedies.
What does the Supreme Court say on the application of the Limitation Act to NCLT proceedings?
Since the Limitation Act is applicable to applications filed under Sections 7 and 9 of the Code from the inception of the Code, Article 137 of the Limitation Act gets attracted. “The right to sue”, therefore, accrues when a default occurs.
Prevalence of IBC over the SARFAESI Act
The Adjudicating Authorities have affirmed the IBC’s goals through a series of judgments and further proved its prevalence over the other laws of land.
Powers and Duties of Liquidator under Voluntary Liquidation
Insolvency Professionals eligible to be appointed as Liquidator alongside written consent form within 10 days of the direction issued, and upon receipt of the proposal, the order of appointment of Liquidator is passed.
Filing of claims under IBC
If any individual has any outstanding claims against an organization and the said organization has been exposed to CIRP, the primary thing that must be finished by such bank immediately is to document his/her cases before any IRP/RP.
The Applicability of Section 10A of IBC would be Retrospective in Nature
The default occurred after the cut-off date, the NCLAT held that the bar imposed under Section 10A was clearly attracted.
Group Insolvency- The Future of Successful Resolution under IBC
It is advisable to the creditors to make a plea of initiating Group Insolvency while filing an application for initiation of CIRP against a corporate debtor.
Why Filing of Claim is Necessary under IBC
Filing Claim under IBC- It becomes very important to understand why every creditor should file their claims?
A Journey of Homebuyer in IBC Laws
A tug of war going on between the companies involved in the real estate sector and the homebuyers since the Insolvency and Bankruptcy Code (IBC) came in force in 2016
Points to remember while filing a case for homebuyers under the newly amended section 7 of IBC
There are certain points which are to be taken into consideration whilst filing a petition for the homebuyers under the newly amended Section 7 of IBC.
IBC Ordinance – A Bargain for both Debtors and Creditors
The rationale of the Ordinance is certainly to ensure that Insolvency and Bankruptcy Code, 2016 lives up to its preamble that is – maximization of value of assets. The newly inserted Section 10A certainly brings about a balance of interest between creditors and debtors.
NCLT Holds Filing of Default Record Mandatory under Section 7 Applications
New Petitions under section 7 of the Insolvency and Bankruptcy Code will mandatory be required to file default record from the Information Utility as per NCLT directed.
How to Execute RERA Order through NCLT under IBC
The RERA Act at present is still a toothless tiger due to lack of execution process of RERA orders. The reliefs under RERA at the moment rest only in paper.
LokSabha Clears Heavily Contested IBC Amendment Bill 2020
The LokSabha passed the IBC (Second Amendment) Bill 2019, which was first introduced by the Finance Minister Nirmala Sitharaman on 12 December 2019.
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