If the corporate debtor’s resolution plan was authorised and declared binding on the corporate debtor and its workers, members, creditors, guarantors, and other stakeholders under Section 31 of the Code, criminal proceedings under Section 138 will continue.
The Adjudicating Authority dismissed the Application and held that it is a case of collusive Application whereby the Corporate Debtor is trying to seek benefits of Moratorium u/s 14 of the IBC and other advantages in accordance with other provisions of IBC 2016.
Insolvency Professionals eligible to be appointed as Liquidator alongside written consent form within 10 days of the direction issued, and upon receipt of the proposal, the order of appointment of Liquidator is passed.
IBC is economic legislation and that when it comes to economic legislation, flexibility should be given to the legislature because no economic law can be fool proof at its inception.
We always talk about problems that we face. Let’s talk about the remedy this time. A good legal team will help you in getting justice on time with an effective remedy. Finding the right legal remedy for your dispute is all what you seek during this chaos.
The Committee of Creditors (CoC) has complete wisdom and right to decide the fate of the company under CIRP. Lets understand all about Committee of Creditors under Insolvency Laws
The decision was taken on the demand made by the homebuyers of Jaypee Greens Knight Courts that the promoter completes the remaining work because a new developer may further delay the project.
A perfect decision by the SC where the parties perform activities to avoid any commercial transactions which are collusive in nature or where financial creditor escape the bar under Section 21(2) first proviso of the IBC.
HARERA has barred the auction of a loan-defaulting project by bank to recover damages without prior adjustment of allottees’ dues.
Petition before NCLT can be admitted even if official liquidator has been appointed by the High Court (Held By NCLT and Hon’ble Supreme Court)
Filing Claim under IBC- It becomes very important to understand why every creditor should file their claims?
An allottee can write a representation addressed to the DM explaining his grievance and praying for the compliance of the RC issued by the RERA within a specified period of time.
Reverse Insolvency Under IBC laws, seems best solution for struck real estate projects and Reverse Insolvency concept is kind good for both homebuyer and builder
Cheque bouncing is also the default in making payment of debt, and petition under IBC laws may be admitted
New Petitions under section 7 of the Insolvency and Bankruptcy Code will mandatory be required to file default record from the Information Utility as per NCLT directed.