Search Results for: application filed under the IBC

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

Implications of cheque bounce under Insolvency Laws (IBC)

Cheque bouncing is also the default in making payment of debt, and petition under IBC laws may be admitted

Revised 1 crore threshold under IBC not to apply retrospectively

The interpretation adopted by the NCLT Chennai Bench over the prospective application of a new threshold of Rs 1 Crore brings a sigh of relief for all the creditors.

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.

All About- Moratorium and its relevance under IBC

The term Moratorium is nowhere defined in the Code, however, the term in basic parlance means, ”a stopping of activity for an agreed amount of time”. 

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.

No bar to Initiate Insolvency Proceedings pendency the action under SARFAESI Act or RDBFI Act

The pendency of actions under the SARFAESI Act or actions under the RDDBFI Act, 1993 does not create an obstruction for applying Section 7 of Insolvency and Bankruptcy Code 2016, especially given Section 238 of IBC.

Claims towards the lease of immovable property do not fall within the definition of Operational Debt under IBC

NCLAT, New Delhi Bench has held that claims towards rent of leasehold property do not fall within the definition of the operational debt under IBC.

How New IBC Ordinance Affecting Home Buyers – An Analysis

Central Govt. passed an ordinance by which they brought in a cap on number of homebuyers approaching the NCLT under Section-7 of the IBC code, 2016.

Financial Creditors can Initiate Insolvency against Personal Guarantors under IBC

The new framework allows Creditors to continue recovery process with Personal Guarantor after completion of the Corporate Insolvency Resolution Process.

Creditors Recover of INR 3.75 Lakh Crore in 1.6 years at IBC/NCLT Pre- Admission Stage

The recovery rate has increased almost three times i.e. from 26.5% in 2018 to 71.6% in 2019 and the time taken for recovery improved from 4.3 years to 1.6 years within a short span of one year.

Relief for Creditors: Time taken under SARFAESI to be Excluded for Limitation Act

Order deliverd by NCLAT is a relief for creditors to invoke the jurisdiction of IBC and seek appropriate redressal for their long-awaited grievances against the debtor.

How to withdraw application under section-12A of the Insolvency and bankruptcy code, 2016

The Insolvency And Bankruptcy Code (Second Amendment) Act, 2018, the NCLT has been granted powers under Regulation 30A read with section 12A