DOES CREATION OF PLEDGE OF SHARES BY CD CONSTITUTE DEBT UNDER IBC?
- By: Pallavi Aggarwal
- pledge
- Sep 7
- Comments (0)
In the matter of Amtek Auto Ltd, the NCLT and NCLAT analysed the position of law with respect to creation of pledge vis-a-vis debt under IBC
Read MoreMadras HC: IBBI is empowered to levy fee as a % of Annual Remuneration drawn as an IP
- By: Prakul Thadi
- Regulations
- Aug 18
- Comments (0)
The power of the Insolvency And Bankruptcy Board Of India (the “IBBI”) to levy fee of 0.25% of the professional fee earned for services rendered as an IP in the preceding financial year and also 0.25% of the turnover of an IPE in the preceding financial year and the regulations thereof were challenged before the Hon’ble High Court of Judicature at Madras.
Read MoreWHEN THERE’S NO WISDOM, HOW COME “COMMERCIAL WISDOM”?
- By: Prakul Thadi
- Ushdev international
- Aug 11
- Comments (0)
An interesting case where the Adjudicating Authority made critical comments on the so-called Commercial Wisdom of the Committee of Creditors. It emphasised that the CoC has not at all applied its mind and that there was no element of wisdom displayed, leave alone the ‘commercial wisdom’…
Read MoreIBBI AMENDS LIQUIDATION PROCESS AND VOLUNTARY LIQUIDATION PROCESS REGULATIONS
- By: Prakul Thadi
- Liquidation
- Aug 8
- Comments (0)
IBBI AMENDS LIQUIDATION AND VOLUNTARY LIQUIDATION PROCESS REGULATIONS 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
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 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 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.
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