Withdrawal of money by directors during the CIRP, to attract criminal offence: NCLAT
Withdrawal of money by a Company director from the accounts of the company during the CIRP, the same will attract criminal proceedings against the Directors
Withdrawal of money by a Company director from the accounts of the company during the CIRP, the same will attract criminal proceedings against the Directors
The LokSabha passed the IBC (Second Amendment) Bill 2019, which was first introduced by the Finance Minister Nirmala Sitharaman on 12 December 2019.
Initiation of the Corporate Insolvency Resolution Process can be done in the name of the Individual who is the owner of a Sole Proprietorship.
This article aims to caution and summarize the Corporate Insolvency Resolution Process with respect to buyers seeking revival and completion of Project.
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 …
The union cabinet in its meeting has given approval to 7 new amendments in the Insolvency and Bankruptcy Code 2016 (IBC) which will allow the government to stick to strict timelines, and along with that, maximize the value of an insolvent entity from the resolution plan as a going concern.
In order to avoid rejection of the claims, the filing of claim should be done by an expert person having knowledge of Insolvency laws.
As the majority of the builders have not delivered the possession of the property as promised made by them and breached the terms and conditions on the agreement executed with the homebuyers.
Under section 14 of the code, the moratorium order is passed. Accordingly till the time moratorium period exists no other action or suit or case or proceedings against the corporate debtor can take place.
What happens once the application by a financial creditor or operational creditor or by corporate applicant is admitted before the NCLT which under the code is termed as adjudicating Authority.
NCALT in the appeal filed in the matter of Kamineni’s reversed the order passed by NCLT and remanded the matter back to go through the liquidation process.
Only those properties in the name of the corporate debtor shall come under the purview of the moratorium and not the personal properties in the name of the corporate debtor.
Aggrieved homebuyers from the Piyush colonizer esteemed developer in the past started a housing project in the City of Faridabad, approached the HRERA bench stating their grievance.
A detailed article on Key highlights of Insolvency and Bankruptcy Code, 2016 by Insolvency Professionals.
RERA or IBC- Both the laws provides with the subjective approach depending upon the facts of the case and the situation of the developer.