Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
Insolvency professional agency governance rules amended to add nominee directors, tighten independent director eligibility, and regulate managing dire...
This circular mandates the use of a centralized electronic listing and auction platform, eBKray, for the sale of assets under the liquidation process. Key points are: Liquidators must list all unsold assets on eBKray, providing comprehensive details like photographs, videos, and coordinates. For ongoing cases, assets must be listed within 7 days of submitting the asset memorandum. Liquidators may use eBKray for auctions in all ongoing cases from the circular's effective date of November 1, 2024. The platform aims to enhance transparency, increase bidder participation, streamline operations, and maximize creditor returns through advanced technology. Initially deployed as a pilot, it will be improved based on usage experience before full-fledged rollout. The circular is issued u/s 196 of the Insolvency and Bankruptcy Code.
This circular mandates the use of a centralized electronic listing and auction platform, eBKray, for the sale of assets under the liquidation process. Key points are: Liquidators must list all unsold assets on eBKray, providing comprehensive details like photographs, videos, and coordinates. For ongoing cases, assets must be listed within 7 days of submitting the asset memorandum. Liquidators may use eBKray for auctions in all ongoing cases from the circular's effective date of November 1, 2024. The platform aims to enhance transparency, increase bidder participation, streamline operations, and maximize creditor returns through advanced technology. Initially deployed as a pilot, it will be improved based on usage experience before full-fledged rollout. The circular is issued u/s 196 of the Insolvency and Bankruptcy Code.
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