Pre-packs & 29A
- By: Prakul Thadi
- prepacks
- Feb 28
- Comments (0)
The Sub-Committee of ILC recommended retention of Sec. 29A for Pre-packs. The article recommends two key amendments, in light of this.
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 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 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 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.
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