The Bangalore Sales Corporation v Sark Spice Products Pvt. Ltd., the National Company Law Tribunal (“NCLT”), Kochi Bench, comprised of Shri. P. Mohan Raj (Judicial Member) and Shri. Satya Ranjan Prasad (Technical Member), held that an unregistered Partnership Firm cannot institute insolvency proceedings under IBC.
Tag: insolvency proceedings under IBC
An Operational Creditor with an Arbitral Award can proceed as a Decree Holder
The National Company Law Tribunal has paved the way for operational creditors to revive their debt and proceed as decree holder.
Govt May Change IBC Laws for Buyer Protection, Stricter Norms for Homebuyers
The Ministry of Corporate Affairs may soon likely to move amendments to the code, including protection for new buyers and tighter norms for home buyers in terms of taking developers to the NCLT.
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