Prime Minister Narendra Modi first announced the Start-up campaign on 15th August from the Red Fort. He launched the most awaited movement #Startup India which has brought lots of posibility among the entrepreneurs in India.
The fast-track CIRP is designed to expedite the insolvency process for smaller companies and enable their efficient restructuring or liquidation.
The adoption of the Model Law will help in the ease of doing business and significantly increase the inflow of FDI into India by way of cross-border mergers and acquisitions.
the interest of the allottees is protected and the survival of real estate companies and completion of projects is ensured. As the amendment in the IBC has brought much needed clarity and provided the much-needed right to the home buyers/allottee.
The enforcement proceedings for the foreign award (under S. 47-48) are the last and final stage where the debtor can resist the award from becoming binding/ enforceable for grounds listed under Section 48 of the Arbitration Act.
The Adjudicating Authority dismissed the Application and held that it is a case of collusive Application whereby the Corporate Debtor is trying to seek benefits of Moratorium u/s 14 of the IBC and other advantages in accordance with other provisions of IBC 2016.
In the present case, the NCLAT held that the Appellants were acting as investors, the money they gave to the Respondents was in the nature of a loan, satisfying the condition of amount “disbursed against consideration for time value of money,” and the committed returns were in the nature of “interest.”
NCLT clarified many controversial legal issues surrounding telecom spectrum, including whether it could be subjected to IBC proceedings whether the bankrupt telcos could sell spectrum rights allotted to them as part of the IBC resolution process.
Hon’ble SC clarified the position of the homebuyers similar to that of a “financial creditor” under the IBC, after this the homebuyers were at a par with banks and financial institutions.
The default occurred after the cut-off date, the NCLAT held that the bar imposed under Section 10A was clearly attracted.
Petition before NCLT can be admitted even if official liquidator has been appointed by the High Court (Held By NCLT and Hon’ble Supreme Court)
Under section 14 of the code, the moratorium order is passed. Accordingly till the time moratorium period exists no other action or suit or case or proceedings against the corporate debtor can take place.
operational creditors are those creditors where liabilities arise from transactions on operations.
The RERA department of Gujarat government is working to give the practical shape of RERA Rules what is meant to be.
In this article we have discussed about how an Operational creditor can file an application for initiation of Corporate Insolvency Process against it debtors.
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