E-filing system failure permits exclusion of affected time in insolvency appeals, preventing tribunal technology defects from defeating timely filings...
Pre-existing disputes over outcome-based professional fees can bar Section 9 insolvency proceedings where contractual entitlement requires investigati...
Way Leave Permissions cannot be retrospectively revived through insolvency plans, and affected infrastructure holders require safety review and hearin...
Personal guarantor insolvency jurisdiction follows the corporate debtor's CIRP Bench, enabling inter-territorial transfer and preventing parallel proc...
Insolvency Professionals must conduct further enquiry where indicators suggest that CIRP or liquidation may be used for a fraudulent or malicious purpose unrelated to insolvency resolution or liquidation. Relevant indicators include a dominant recently assigned single creditor, connected corporate debtors entering CIRP with overlapping creditors, limited competitive bidding, unsupported disproportionate recoveries, links to fraud proceedings, and unjustified related-party loans or write-offs. Indicators are illustrative and not conclusive; they require holistic, contextual assessment based on records available in the ordinary course. Where reasonable grounds support suspected misuse, the IP must apply to the Adjudicating Authority, identifying the indicators, supporting material, and reasons for seeking directions.
Insolvency Professionals must conduct further enquiry where indicators suggest that CIRP or liquidation may be used for a fraudulent or malicious purpose unrelated to insolvency resolution or liquidation. Relevant indicators include a dominant recently assigned single creditor, connected corporate debtors entering CIRP with overlapping creditors, limited competitive bidding, unsupported disproportionate recoveries, links to fraud proceedings, and unjustified related-party loans or write-offs. Indicators are illustrative and not conclusive; they require holistic, contextual assessment based on records available in the ordinary course. Where reasonable grounds support suspected misuse, the IP must apply to the Adjudicating Authority, identifying the indicators, supporting material, and reasons for seeking directions.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
