Search Results for: liquidation proceedings

Artificial Intelligence and Insolvencies

Machine learning, deep learning, artificial neural networks, rule-based expert systems, and natural language processing are a few examples of artificial intelligence technologies employed in worldwide insolvency and bankruptcy processes.

Jurisdiction in Copyright dispute arising from CIRP can be decided only by NCLT: Delhi HC

A dispute arose after the completion of the liquidation proceeding and whether the dispute relates to special legislation, such as the Copyright Act, where civil courts have been granted exclusive jurisdiction.

What is the meaning of “Residuary Jurisdiction” of the NCLT under IBC?

The Supreme Court of India defined Section 60(5) of the Code as a residuary jurisdiction vested in the NCLT, allowing the NCLT to decide all questions of law or fact arising out of or in relation to the corporate debtor’s insolvency resolution or liquidation under the Code.

IBC against NBFC

The IBC’s applicability to NBFCs is a welcome legislative effort, and the new rules have extended the RBI’s role in performing an NBFC’s CIRP.

NCLT has jurisdiction over contractual disputes that arises solely on account of Insolvency

The NCLT and the National Company Law Appellate Tribunal (NCLAT) have to ensure that they do not usurp the legitimate jurisdiction of other courts, tribunals and for when the dispute is one which does not arise solely from or relate to the insolvency of the Corporate Debtor.

PETITION BEFORE NCLT CAN BE ADMITTED EVEN IF A LIQUIDATOR HAS BEEN APPOINTED BY THE HIGH COURT

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)

NCLAT Chennai Bench: Tribunal Dismisses Review Application Seeking Recall of Order

In a recent decision, the National Company Law Appellate Tribunal (NCLAT), Chennai Bench, comprising of Justice M. Venugopal, Justice Sharad Kumar Sharma, and Shri Jatindranath Swain, delivered a significant verdict regarding the jurisdiction of tribunals in recalling orders. The case in question, titled Adv. (CA) V. Venkata Sivakumar v Hari S. Hari Karthik & Ors., … Continue reading “NCLAT Chennai Bench: Tribunal Dismisses Review Application Seeking Recall of Order”

Appeal to Hon’ble National Company Law Appellate Tribunal (NCLAT) and limitation period thereof

Any person aggrieved by the order of the Hon’ble Adjudicating Authority i.e. National Company Law Tribunal (“NCLT”) under Section 61(1) of the Insolvency & Bankruptcy Code, 2016 (“IBC, 2016”) may prefer an appeal before the Hon’ble National Company Law Appellate Tribunal (NCLAT).  

Catalyzing Compliance: Procedural Framework for Insolvency Professionals in Accessing Income Tax Portals for Corporate Debtors

The designation and subsequent empowerment of an Insolvency Professional (IP) within the framework of a Corporate Debtor entail an array of responsibilities primarily focused on the effective management of the corporate entity.

Deciphering the Enigma of Interim Moratorium under IBC

Insolvency and Bankruptcy Code, 2016 brings in the concept of Interim Moratorium, which offers protection to individuals during the insolvency process.

Understanding the interpretation of the Insolvency and Bankruptcy Code, 2016

Interpreting the Insolvency and Bankruptcy Code 2016 and sheds light on its significance in shaping the insolvency and bankruptcy landscape in India.