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    December 29, 2020   Case LawsInsolvency and Bankruptcy
    Retirement Benefits and Provident Fund Claims Settled in CIRP Proceedings; Interest on Gratuity Admitted Until Insolvency Date.
    December 25, 2020   Case LawsInsolvency and Bankruptcy
    Company's CIRP Bid Opposed by Creditors SIDBI, IOB u/s 10 for Alleged Misuse of Insolvency Process.
    December 25, 2020   Case LawsInsolvency and Bankruptcy
    Corporate Insolvency Resolution Process Hinges on Unresolved Dispute Over Substandard Material and Adhesion Issues in Laminates.
    December 25, 2020   Case LawsInsolvency and Bankruptcy
    NCLAT Decision: Assignee Considered Related Party if Assignor is Related to Corporate Debtor in Debt Assignment Cases.
    December 14, 2020   Case LawsInsolvency and Bankruptcy
    Authority Can Reject CIRP Application u/s 10(4)(b) If Incomplete; M/s. Prithviraj Spinning Mills No Longer Exists.
    December 12, 2020   Case LawsInsolvency and Bankruptcy
    Management Control Transfers to IRP/RP in CIRP; Liquidator Holds Section 35 Powers for MSME Certificate Application.
    December 12, 2020   Case LawsInsolvency and Bankruptcy
    Tribunal Invalidates Board Removal; Orders Deletion of Clauses 31(a), 32, 39(b) from Company's Articles of Association.
    December 10, 2020   Case LawsInsolvency and Bankruptcy
    Court Finds Error in Adjudicating Authority's Decision on Debt and Service Deficiency in Corporate Insolvency Case.
    December 9, 2020   Case LawsInsolvency and Bankruptcy
    Appellants barred from reopening Corporate Insolvency Resolution Process after approval of Shri Dutt India Pvt. Ltd. plan.
    December 3, 2020   Case LawsInsolvency and Bankruptcy
    Corporate Insolvency Resolution Process can be initiated against guarantors independently of borrowers; res judicata misapplied in this context.
    December 2, 2020   Case LawsInsolvency and Bankruptcy
    No Grounds to Challenge Financial Creditors' Decisions in Liquidation; 90-Day Revival Proposal Period per IBC and Companies Act.
    November 27, 2020   Case LawsInsolvency and Bankruptcy
    NCLT Can't Hear Section 43 Applications After Resolution Plan Approval; New Management Gains Full Control Over Company Actions.
    November 27, 2020   Case LawsInsolvency and Bankruptcy
    Regulation 38: Approved Resolution Plan Applies Prospectively, Ensures Equal Treatment for All Financial Creditors in Same Class.
    November 27, 2020   Case LawsInsolvency and Bankruptcy
    Assignee inherits related party status from Assignor, affecting inclusion in Committee of Creditors, per NCLAT ruling.
    November 26, 2020   Case LawsInsolvency and Bankruptcy
    Section 7 IBC Application Valid for Independent Overdrafts, Not Just Consortium Lending; High Court Order Challenged.
    November 26, 2020   Case LawsInsolvency and Bankruptcy
    Corporate Insolvency Resolution Process cannot be initiated twice on same claims; guarantors remain liable u/s 14.
    November 24, 2020   Case LawsInsolvency and Bankruptcy
    Creditors Must Submit Claims Before NCLT Approval; Late Claims Not Allowed Post-Resolution Plan Approval.
    November 23, 2020   Case LawsInsolvency and Bankruptcy
    Can NCLT contest property attachment under MPID Act via Section 60(5) of I.B. Code? Ownership under scrutiny.
    November 21, 2020   Case LawsInsolvency and Bankruptcy
    Tribunal orders ROC West Bengal to reinstate company for insolvency process but fee waiver instruction deemed unsound.
    November 11, 2020   Case LawsInsolvency and Bankruptcy
    High Court Upholds Regulation 12A's Constitutionality; Clarifies Time Limits and Reapplication for Insolvency Professionals Under Regulation 7A.
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    Highlights
    All› IBC - Insolvency and Bankruptcy › IBC - Insolvency and Bankruptcy - 2020
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    December 29, 2020   Case Laws Insolvency and Bankruptcy
    Retirement Benefits and Provident Fund Claims Settled in CIRP Proceedings; Interest on Gratuity Admitted Until Insolvency Date.
    December 25, 2020   Case Laws Insolvency and Bankruptcy
    Company's CIRP Bid Opposed by Creditors SIDBI, IOB u/s 10 for Alleged Misuse of Insolvency Process.
    December 25, 2020   Case Laws Insolvency and Bankruptcy
    Corporate Insolvency Resolution Process Hinges on Unresolved Dispute Over Substandard Material and Adhesion Issues in Laminates.
    December 25, 2020   Case Laws Insolvency and Bankruptcy
    NCLAT Decision: Assignee Considered Related Party if Assignor is Related to Corporate Debtor in Debt Assignment Cases.
    December 14, 2020   Case Laws Insolvency and Bankruptcy
    Authority Can Reject CIRP Application u/s 10(4)(b) If Incomplete; M/s. Prithviraj Spinning Mills No Longer Exists.
    December 12, 2020   Case Laws Insolvency and Bankruptcy
    Management Control Transfers to IRP/RP in CIRP; Liquidator Holds Section 35 Powers for MSME Certificate Application.
    December 12, 2020   Case Laws Insolvency and Bankruptcy
    Tribunal Invalidates Board Removal; Orders Deletion of Clauses 31(a), 32, 39(b) from Company's Articles of Association.
    December 10, 2020   Case Laws Insolvency and Bankruptcy
    Court Finds Error in Adjudicating Authority's Decision on Debt and Service Deficiency in Corporate Insolvency Case.
    December 9, 2020   Case Laws Insolvency and Bankruptcy
    Appellants barred from reopening Corporate Insolvency Resolution Process after approval of Shri Dutt India Pvt. Ltd. plan.
    December 3, 2020   Case Laws Insolvency and Bankruptcy
    Corporate Insolvency Resolution Process can be initiated against guarantors independently of borrowers; res judicata misapplied in this context.
    December 2, 2020   Case Laws Insolvency and Bankruptcy
    No Grounds to Challenge Financial Creditors' Decisions in Liquidation; 90-Day Revival Proposal Period per IBC and Companies Act.
    November 27, 2020   Case Laws Insolvency and Bankruptcy
    NCLT Can't Hear Section 43 Applications After Resolution Plan Approval; New Management Gains Full Control Over Company Actions.
    November 27, 2020   Case Laws Insolvency and Bankruptcy
    Regulation 38: Approved Resolution Plan Applies Prospectively, Ensures Equal Treatment for All Financial Creditors in Same Class.
    November 27, 2020   Case Laws Insolvency and Bankruptcy
    Assignee inherits related party status from Assignor, affecting inclusion in Committee of Creditors, per NCLAT ruling.
    November 26, 2020   Case Laws Insolvency and Bankruptcy
    Section 7 IBC Application Valid for Independent Overdrafts, Not Just Consortium Lending; High Court Order Challenged.
    November 26, 2020   Case Laws Insolvency and Bankruptcy
    Corporate Insolvency Resolution Process cannot be initiated twice on same claims; guarantors remain liable u/s 14.
    November 24, 2020   Case Laws Insolvency and Bankruptcy
    Creditors Must Submit Claims Before NCLT Approval; Late Claims Not Allowed Post-Resolution Plan Approval.
    November 23, 2020   Case Laws Insolvency and Bankruptcy
    Can NCLT contest property attachment under MPID Act via Section 60(5) of I.B. Code? Ownership under scrutiny.
    November 21, 2020   Case Laws Insolvency and Bankruptcy
    Tribunal orders ROC West Bengal to reinstate company for insolvency process but fee waiver instruction deemed unsound.
    November 11, 2020   Case Laws Insolvency and Bankruptcy
    High Court Upholds Regulation 12A's Constitutionality; Clarifies Time Limits and Reapplication for Insolvency Professionals Under Regulation 7A.

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      Insolvency and Bankruptcy

      Initiation of CIRP - Section 10(4)(b) of IBC, 2016 contemplates...

      Authority Can Reject CIRP Application u/s 10(4)(b) If Incomplete; M/s. Prithviraj Spinning Mills No Longer Exists.

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      Insolvency and BankruptcyDecember 14, 2020Case LawsTri
      Initiation of CIRP - Section 10(4)(b) of IBC, 2016 contemplates that this Adjudicating Authority has the right to reject the Application if it is incomplete. As already stated supra, inspite of opportunity being granted, the Form - VI as filed by the Applicant is incomplete in all respects. Further, this Adjudicating Authority also cannot pass an order of CIRP as against M/s. Prithviraj Spinning Mills Private Limited since the name of the Company is not in existence as on date. - Tri
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