MCA NOTIFICATION INCREASING THE MINIMUM AMOUNT OF DEFAULT TO ONE CRORE RUPEES APPLIES PROSPECTIVELY, CLARIFIES NCLAT
- By: Ali Khan Mohd.
- NCLT
- Oct 15
- Comments (0)
MCA NOTIFICATION ENHANCING MINIMUM AMOUNT OF DEFAULT APPLIES PROSPECTIVELY, CLARIFIES NCLAT As the ongoing pandemic has impacted economies across the world, it is getting difficult to find adequate resolution applicants to rescue a corporate debtor which is under Corporate Insolvency Resolution Process (“CIRP”) under the Insolvency and Bankruptcy Code, 2016 (“IBC” or “Code”). A large
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 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 MoreNCLT HAS THE POWER TO EXCLUDE THE PERIOD OF DELAY IN APPOINTING THE “RP” IN PLACE OF THE “IRP”: NCLAT
- By: Prakul Thadi
- Resolution Appicant
- Dec 13
- Comments (0)
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.
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