Insolvency and Bankruptcy Code

Blog, News, Insolvency and Bankruptcy Code

May 31, 2022

Mere declaration of person as highest bidder doesn’t amount to completion of auction sale

Case Details: Punjab National Bank … Continue reading “Mere declaration of person as highest bidder doesn’t amount to completion of auction sale”

Blog, News, Insolvency and Bankruptcy Code

May 28, 2022

Fact that liquidation value is more than enterprise value couldn’t be a ground to liquidate a corporate debtor: NCLT

Case Details: Ramsarup Industries Ltd., … Continue reading “Fact that liquidation value is more than enterprise value couldn’t be a ground to liquidate a corporate debtor: NCLT”

News, Blog, Insolvency and Bankruptcy Code

May 27, 2022

Extra amount received by financial creditors from a resolution applicant was to be refunded to appellant: NCLAT

Case Details: Synergy Technologies v. … Continue reading “Extra amount received by financial creditors from a resolution applicant was to be refunded to appellant: NCLAT”

Blog, News, Insolvency and Bankruptcy Code

May 26, 2022

RP’s role is limited to make appropriate recommendations to AA

Case Details: Babu A. Dhammanagi … Continue reading “RP’s role is limited to make appropriate recommendations to AA”

Blog, News, Insolvency and Bankruptcy Code

May 25, 2022

IBBI rescinds 7 circulars issued under the IBC on account of duplicity

Circular no. No. IBBI/CIRP/3/2022, Dated: … Continue reading “IBBI rescinds 7 circulars issued under the IBC on account of duplicity”

Blog, News, Insolvency and Bankruptcy Code

May 24, 2022

NCLT rightly admitted CIRP plea as forensic audit report of corporate debtor confirmed acknowledgment of debt

  Case Details: Avneesh Kumar … Continue reading “NCLT rightly admitted CIRP plea as forensic audit report of corporate debtor confirmed acknowledgment of debt”

Blog, News, Insolvency and Bankruptcy Code

May 24, 2022

‘NOIDA’ is not a financial creditor: SC rules

[2022] 138 taxmann.com 393 (Article) … Continue reading “‘NOIDA’ is not a financial creditor: SC rules”

Blog, News, Insolvency and Bankruptcy Code

May 21, 2022

CIRP plea was rightly rejected as corporate debtor pointed out deficiencies in work prior to issuance of demand notice

Case Details: R.K.& Associates v. … Continue reading “CIRP plea was rightly rejected as corporate debtor pointed out deficiencies in work prior to issuance of demand notice”

Blog, News, Insolvency and Bankruptcy Code

May 20, 2022

Unqualified acknowledgment of debt in the balance sheet extends period of limitation for filing of CIRP: Reiterates SC

Case Details: State Bank of … Continue reading “Unqualified acknowledgment of debt in the balance sheet extends period of limitation for filing of CIRP: Reiterates SC”

News, Blog, Insolvency and Bankruptcy Code

May 19, 2022

NOIDA isn’t a financial creditor under IBC for leasing of a plot with a restrictive clause

Case Details: New Okhla Industrial … Continue reading “NOIDA isn’t a financial creditor under IBC for leasing of a plot with a restrictive clause”