NCLAT, New Delhi Bench has held that claims towards rent of leasehold property do not fall within the definition of the operational debt under IBC.
Claims towards rent of leasehold property do not fall within the definition of the operational debt in terms of Section 5(21) of the Insolvency and Bankruptcy Code, 2016.
Fall in Non-Performing Assets and Stressed Assets of the Indian Banking Sector have finally resulted in a profit for the first time in 7 years.
A judgement has been held by Hon’ble Supreme Court that the powers of the NCLT under the IBC do not extend to adjudicating disputes relating to quasi- judicial or statutory authorities.
The Ministry of Corporate Affairs may soon likely to move amendments to the code, including protection for new buyers and tighter norms for home buyers in terms of taking developers to the NCLT.
Flipkart approached the Karnataka High Court for a stay on the CIRP process initiated by the NCLT. Further, the Karnataka High Court stayed the CIRP process.
As per section 14 of the IBC 2016 and in the judgments it has been determined that during the moratorium period the invocation of guarantee against the ‘Company under Insolvency Proceedings/ CIRP.
In a recent order given by the NCLAT, thousands of homebuyers have been given a fresh lease of life as the appellate body has ordered fresh round of …
Money laundering is the term generally used to describe the process by which an individual/entity acquires a property through criminal conduct or illegal means and shows the source of acquisition of the same property as a legal one.
Nirav Modi scam and the ICICI Bank controversy were amongst the top notch cases that the NCLT is dealing with and Government is taking keen interest in resolving these issues.
Reserve Bank of India’s (RBI’s) controversial February 12 circular that bankruptcy proceedings will kick in 180 days.
The homebuyers have got a huge sigh of relief, and are finding it easier to get their money back which was a big deal before the enactment of IBC.
The IBC in section 29A bars promoters to take part in bidding process thus making them ineligible for representation in the committee of creditors.
The ministry of corporate affairs showed that over 2,100 companies have cleared their outstanding amounts, a majority of which came after the government amended the IBC.
Their powers are extensive and under their purview the liquidation process of a corporate person is carried out.
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