Search Results for: Insolvency and Bankruptcy Board of India

The Authority Of The Nclt To Review Itself

The reviewing court can reverse the original decision or amend it as needed. With the passing of time, the judiciary has been paving the way for clearing the doubt regarding the power to review and recall.

How IBC can be helpful to Start-Up?

The fast track process which can be initiated by a creditor or the corporate debtor itself cuts down the time taken to complete an insolvency resolution to almost half as compared to the regular process under the IBC.

Putting Resolution Professionals under the spotlight: The latest IBC Amendments

The resolution professional (RP), appointed under the Code, is at the heart of these endeavors and has the mandate to complete this process in a time-bound manner.

No modification or withdrawal of resolution Plan after submission to NCLT : SC

The Adjudicating Authority cannot allow or approve the application regarding modifications or withdrawals of CoC-approved Resolution Plans once the plan has been submitted before NCLT.

Voluntary Liquidation

IBBI changed the liquidation procedure to be of a fixed duration. The new rules require the process to be completed within one year of its inception.

AA has limited power of judicial review if resolution plan is approved by CoC: SC

Supreme Court’s decision in Maharashtra Seamless Limited shows that the commercial wisdom of the CoC will be given top priority when deciding on the feasibility and viability of the resolution plan.

HC dismiss the writ regarding fees on IPs by IBBI

CA. Venkata Siva Kumar, the petitioner, is a chartered accountant who has registered as an IP with the IBBI. In his writ petition, he claimed that the IBBI Regulations, 2016 are in violation of Articles 14, 19, and 21 of the Constitution and should be overturned.

Supreme Court: Personal Guarantor Liable for Loans under IBC

The Supreme Court of India has cleared the way for lenders to file insolvency proceedings against personal guarantors of stressed companies, who are typically promoters.

Conundrum on concept of subordinate charge in CIRP under IBC

Introduction of Insolvency and Bankruptcy Code, 2016 has decreased the idea of Subordinate Charge as Form H and Section 53 of Insolvency and Bankruptcy Code (“IBC”) recognizes only secured creditors.

Why Filing of Claim is Necessary under IBC

Filing Claim under IBC- It becomes very important to understand why every creditor should file their claims?

3 Years since IBC- A road to Success

Since IBC enactments, it is necessary to consider the hits and misses of this momentous legislation so as to truly exploit the potential of the insolvency regime.

Homebuyers approach parliamentary committee against ordinance infringing their rights to approach NCLT

Forum for People’s Collective Efforts, has approached the parliamentary standing committee on finance with its objection to a proposed amendment to the Insolvency and Bankruptcy Code.

Homebuyers can file claim against HDIL

Corporate Insolvency Resolution Process initiated against Housing Development and Infrastructure Limited. Claims have been invited by the IRP from the creditors of the Company.

Resolution Plans to be shared with directors of corporate debtor to attend COC

The former directors of the corporate debtor shall not merely provide the financial status of the corporate debtor but more than that so that they are aware of the terms to which they are bound.