In response to the damage done to the economy the Indian Government has placed certain embargoes and granted certain grace periods to help reduce the financial strain caused by the complete shutdown of the economy this includes the three month moratorium that has been given by the RBI regarding payments of EMI.
The resolution plan can be challenged by an aggrieved person as per the grounds mentioned in Sub-Section (3) of Section 61 of the Code.
As per section 14 of the IBC 2016 and in the judgments it has been determined that during the moratorium period the invocation of guarantee against the ‘Company under Insolvency Proceedings/ CIRP.
The voluntary winding up or voluntary liquidation, as the code defines, of the company can take place under section 59 of the IBC.
Any aggrieved person can take a legal action against the Insolvency Professional who contravenes any of the provisions of the Code or violates or deviates from the professional duty entrusted upon him/her.
The Insolvency and Bankruptcy Code, 2016 (IBC) marks a significant milestone in the realm of insolvency and bankruptcy resolution in India. With its passage by Parliament and Presidential assent on May 28, 2016, the IBC revolutionized the legal framework surrounding insolvency and bankruptcy.
In a recent decision, the National Company Law Appellate Tribunal (NCLAT), Chennai Bench, comprising of Justice M. Venugopal, Justice Sharad Kumar Sharma.
The Insolvency and Bankruptcy legislation is a comprehensive legislation that contains all of the required provisions for providing a haven for business debtors in difficulty.
The Insolvency and Bankruptcy Code, of 2016 introduced a paradigm shift in India’s corporate legal landscape. One of its most significant features is the overriding effect it has on other laws.
A person has the fundamental right to lodge a complaint or grievance to the court regarding any administrative action. The protection of fundamental rights and the assurance of natural justice are the two most important aspects of writ jurisdictions.
The major challenges in the insolvency resolution of real estate companies arise from the peculiarities of this sector, especially since the divergent interests of the allottees of the real estate projects do not align with the scheme of the CIRP.
the Hon’ble Supreme Court of India held that provisions of the Maternity Benefit Act, 1961 even applied to women who work on a casual basis, or on a muster roll basis daily wage and not only for those who work on a regular basis.
The Biotechnology Regulatory Authority of India is established by the Bill as an autonomous body to oversee the control of biotech organisms and goods.
Forcing an employee to work against his will is neither ethical nor legal. In some cases, an employee is made to do work for long hours without adequate compensation or breaks such actions may even be considered harassment or discrimination.
In accordance with Section 438 of the Criminal Procedure Code, bail must be provided before an arrest can be made. A person may apply for bail before the session’s court of the High Court if they anticipate being detained for an offense for which there is no possibility of bail.
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