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 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.
Read MoreIBC (Amendment) Ordinance, 2019: Practical Difficulties in filing CIRP Application by Home Buyers
- By: Manoj Basniwal
- Virtualaw
- Feb 29
- Comments (0)
The Insolvency and Bankruptcy (Amendment) Ordinance, 2019, introduced many important amendments and one among them is the threshold requirement for initiation of CIRP by home buyers. The Author made an attempt to highlight practical difficulties in filing CIRP application by home buyers after this Ordinance.
Read MoreDIRECTORS’ DUTIES DURING TWILIGHT ZONE
- By: Vijay Sekar
- twilightzone
- Feb 17
- Comments (0)
During twilight zone, it is highly likely that the directors or the senior management might enter into vulnerable transactions which can be prejudicial to the interests of stakeholders. The Author made an attempt to highlight the do’s and dont’s of a director during twilight zone.
Read MoreSC: NOT INCLINED TO INTERFERE WITH THE DECISION OF CoC OF DHFL TO COMMENCE LENDING OPERATIONS
- By: Prakul Thadi
- Supreme Court
- Feb 4
- Comments (0)
The Supreme Court rejected the plea of depositors of DHFL and opined that it is not inclined to interfere with the decision of CoC. This article is an attempt to explore FRDI Bill assuming DHFL is being resolved under FRDI.
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