IBBI AMENDS LIQUIDATION PROCESS AND VOLUNTARY LIQUIDATION PROCESS REGULATIONS
- By: Prakul Thadi
- Liquidation
- Aug 8
- Comments (0)
The IBBI made the following amendments to the Regulations pertaining to Liquidation Process and Voluntary Liquidation Process on August 5, 2020: In the IBBI (Liquidation Process) Regulations, 2016: A clarification is inserted in Regulation 4 clarifying that where a liquidator realising any amount on sale of assets is different from the liquidator distributing such amount
Read MoreIBBI AMENDS INSOLVENCY RESOLUTION PROCESS REGULATIONS
- By: Prakul Thadi
- Voting on Resolution Plan
- Aug 8
- Comments (0)
A glimpse on the amendments made by IBBI to the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016
Read MoreAPPOINTMENT OF IRP/RP BY FINANCIAL CREDITORS – STILL CALL IT A FAIR GAME PLAY?
- By: Virendra Maurya
- SC
- Jun 29
- Comments (0)
The Author made an attempt to expose adverse effects of possible collusion of Insolvency Professionals and Financial Creditors.
Read MoreDISSECTING THE DEPOSITS UNDER THE COMPANIES ACT, 2013
- By: Sharath Chandra
- Deposits
- Jun 22
- Comments (0)
The Author made an attempt to simplify the understanding of the concept of Deposits under the Companies Act, 2013.
Read MoreS. 59 of IBC and Voluntary Liquidation under Companies Act
- By: Atchyut Mandhata
- VoluntaryLiquidation
- Jun 17
- Comments (0)
The Hon’ble NCLAT has held that the jurisdiction exercised by the Adjudicating Authority is vested in it and cannot be termed improper. Despite being of the view that the claim initially left out by the Respondent No.1 was payable, the Liquidator proceeded to reject the same without any justifiable reason which cannot be supported.
Read MoreJUDICIAL INTERVENTION AND IBC
- By: Prakul Thadi
- NCLT
- Jun 15
- Comments (0)
The article tries to establish how the judicial intervention of NCLT, NCLAT and Supreme Court helped establish the objective of the IBC
Read MoreTIMELINES IN RESOLUTION PLAN RELAXED BY NCLT ON ACCOUNT OF COVID-19
- By: Vijay Sekar
- resolution professional
- Jun 10
- Comments (0)
The Adjudicating Authority found that there is no material change in the Resolution plan save and except modification/concession/relaxation in respect of time line of payment to the creditors and/ or stake holders and the relief sought appears to be genuine and bonafide. Therefore, the Resolution plan has been approved by the adjudicating authority with a modified time frame/timeline.
Read MoreEX-EMPLOYEE OF FINANCIAL CREDITOR CANNOT ACT AS IRP/RP
- By: Atchyut Mandhata
- RP
- Jun 10
- Comments (0)
The NCLAT upheld the order passed by the Adjudicating Authority holding that apprehension of biasness raised by the Corporate Debtor cannot be dismissed offhand and that NCLT is justified in changing the IRP.
Read MoreHELICOPTER MONEY – Saving the Economy from Pandemic
- By: Sharath Chandra
- saving economy
- Jun 8
- Comment (1)
Postulated by Friedman the term Helicopter Money is an unconventional tactic, wherein a large sum of new money, which is printed and distributed among the public to stimulate economic growth. The Author made an attempt to illustrate how Helicopter Money can save the economy from pandemic.
Read MoreCIRP APPLICATION CAN BE ADMITTED EX-PARTE
- By: Ranjitha Jain Dhanakeerthi
- Insolvency Law
- Jun 1
- Comments (0)
According to Section 7 of the code, application for initiation of CIRP is admitted after ascertaining the existence of default in respect of debt owed. In this case, the CD has acknowledged the existence of default but neither repaid it nor filed any reply-affidavit to the notices which clearly indicates that there is no violation of principles of natural justice by the Adjudicating Authority. Accordingly, the NCLAT dismissed the appeal.
Read More