Withdrawal of money by directors during the CIRP, to attract criminal offence: NCLAT
Withdrawal of money by a Company director from the accounts of the company during the CIRP, the same will attract criminal proceedings against the Directors
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Reliance Communications to face Insolvency Proceedings
Reliance Communications and its subsidiaries filed pleas in the appellate tribunal to set aside the NCLT’s decision to start insolvency proceedings.
NCLT declines extending the deadline for liquidation
National Company Law Tribunal (NCLT) declined to extend the deadline for finalizing a rescue plan for the insolvent firm beyond the mandatory 270-day
The Transformative Impact of Artificial Intelligence on the Indian Legal System
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.
ARBITRATION AGREEMENTS IN UNSTAMPED CONTRACTS
Section 7 of the Arbitration and Conciliation Act, 1996 defines an arbitration agreement as “an agreement by the parties to submit to arbitration all or certain disputes which have arisen or which may arise between them in respect of a defined legal relationship, whether contractual or not.
NAVIGATING CONFLICT VIRTUALLY AMIDST THE COVID-19 PANDEMIC
A paradigm shift in many facets of daily life, including the resolution of disputes, has been sparked by the COVID-19 epidemic. It has not only transformed our lives, but it has also sparked a radical shift in the way we approach and settle disputes.
Litigation Costs: Understanding the Expenses of Legal Battles
In the realm of the law, disputes between individuals, businesses, or organizations often lead to court cases. These legal battles, known as litigation, are essential for resolving conflicts and upholding justice.
How to take maximum benefit from RERA as a Homebuyer and as a builder?
RERA was established to do away with project delays, malpractice, and irregularities in norms and increase transparency and accountability from builders and homebuyers both.
FUTURE OF MEDIATION IN INSOLVENCY PROCEEDINGS
Being the least expensive and less time-consuming, Mediation is popular ADR in India. The mediator plays the role of a neutral party who helps the parties to have direct communication and assists in exploring the options and a mutually accepted agreement.
Artificial Intelligence and Insolvencies
Machine learning, deep learning, artificial neural networks, rule-based expert systems, and natural language processing are a few examples of artificial intelligence technologies employed in worldwide insolvency and bankruptcy processes.
Interim Finance – A Source of Operational Funding under IBC
interim finance can be raised by the resolution professional appointed by the National Company Law Tribunal (NCLT). The resolution professional is authorized to raise interim finance after obtaining approval from the Committee of Creditors (CoC).
NCLT Prescribes Dress Code for Members, Lawyers, RP, Authorized Representatives & Parties in Person
NCLT specified the dress code for NCLT President, NCLT Members, Legal Practitioners, Authorized Representatives, Interim Resolution Professional, Liquidator, Resolution Professional, and parties present in person.
Proposed Amendment by the Ministry of Corporate Affairs
Proposed Amendments in a circular issued on 18.01.2023, the Ministry of Corporate Affairs has proposed numerous changes in IBC.
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.
Housing Discrimination: A Myth or a Never-Ending Struggle?
No person shall be discriminated against because of their race, sex, caste, color, or religion. Article 21 of the constitution, under its various interpretations, also includes the ‘right to housing’ or ‘right to shelter’ as an individual’s fundamental right.
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