FINANCIAL STRESS & INSOLVENCY ISSUES FOR MSMEs
FINANCIAL STRESS & INSOLVENCY ISSUES FOR MSMEs Micro, Small and Medium Enterprises (MSMEs) are amongst the strongest drivers of economic development, innovation, and employment. The sector also contributes in a significant way to the growth of the Indian economy with a vast network of about 63.38 million enterprises. The sector contributes about 45% to manufacturing
Read MoreNCLT HAS THE POWER TO EXCLUDE THE PERIOD OF DELAY IN APPOINTING THE “RP” IN PLACE OF THE “IRP”: NCLAT
NCLT HAS THE POWER TO EXCLUDE THE PERIOD OF DELAY IN APPOINTING THE “RP” IN PLACE OF THE “IRP”: NCLAT CASE SUMMARY Mrs. Vandana Garg – Appellant vs Reliance Capital Ltd. & Anr. – Respondent (Company Appeal (AT) (Insolvency) No. 603 of 2019) Order dated July 2, 2019 by Justice S.J. Mukhopadhaya (Chairperson), Justice A.I.S.
Read MoreMONEY RECEIVED AS LOAN WITH REGARD TO FUTURE SUPPLIES OF MATERIAL BE TREATED AS FINANCIAL DEBT: NCLAT
MONEY RECEIVED AS LOAN WITH REGARD TO FUTURE SUPPLIES OF MATERIAL BE TREATED AS FINANCIAL DEBT: NCLAT CASE SUMMARY Gaurav Agrawal, Director M/s. Albus India Ltd. – Appellant vs M/s Tuf Metallurgical (P) Ltd. & M/s Albus India Ltd. – Respondents (Company Appeal (AT) (Ins) No.212 of 2019) Order dated September 4, 2019 by
Read MorePF, PENSION AND GRATUITY CANNOT BE CONSIDERED AS LIQUIDATION ESTATE UNDER IBC: NCLAT
PF, PENSION AND GRATUITY CANNOT BE CONSIDERED AS LIQUIDATION ESTATE UNDER IBC: NCLAT CASE SUMMARY STATE BANK OF INDIA – Appellant vs MOSER BAER KARAMCHARI UNION & ANR – Respondent (COMPANY APPEAL (AT)(INSOLVENCY) NO. 396 of 2019) Order dated 19.08.2019 by Justice S.J.MUKHOPADHAYA and Justice A.I.S. CHEEMA 1. Issue in Consideration Whether the provident fund,
Read MoreTRADE UNION IS AN OPERATIONAL CREDITOR UNDER IBC : SUPREME COURT
TRADE UNION IS AN OPERATIONAL CREDITOR UNDER IBC : SUPREME COURT CASE SUMMARY JK JUTE MILLS MAZDOOR MORCHA (TU)—Appellant vs JUGGILAL KAMLAPAT JUTE MILLS COMPANY LIMITED —Respondent (CIVIL APPEAL NO.20978 of 2017) Judgment dated 30.04.2019 by Justice R.F. Nariman And Justice Vineet Saran 1. Issue in Consideration: This appeal addresses an important question of law
Read MoreA TAKE ON THE JOURNEY OF THE INDIAN INSOLVENCY LAW
A TAKE ON THE JOURNEY OF THE INDIAN INSOLVENCY LAW The Insolvency and Bankruptcy Code, 2016 was enacted in India as an Economic Reformation Legislation to promote economic freedom of businesses in India ensuring that the economic assets of the Nation are put to best alternative use. Resolution of the stressed asset is at the
Read MoreUNION CABINET APPROVED AMENDMENTS UNDER IBC
UNION CABINET APPROVED AMENDMENTS UNDER IBC The Union Cabinet approved various amendments under the Insolvency Bankruptcy Code, 2016 (“IBC”) the salient feature of which are briefly provided through press release of the Ministry of Corporate Affairs dated July 17, 2019. It was stated in the press release that the amendments aim to fill critical gaps
Read More