All About- Moratorium and its relevance under IBC
The term Moratorium is nowhere defined in the Code, however, the term in basic parlance means, ”a stopping of activity for an agreed amount of time”.
Search Results for: CIRP against the corporate debtor
Decisions taken by the committee of Creditors are Business plans which are Non-Justiciable: NCLAT
As per the settled law there is no law or provision which states that either the Adjudicating or the Appellate Authority has the powers to question the resolution plan approved by the COC until and unless the same is barred by some irregularity.
Claim amount towards interest on loan alone cannot be termed as Operational Debt
A pre-existing dispute towards interest on the delayed payments before the issuance of the demand notice and that the alleged claim amount towards interest on loan alone, cannot be termed as an “Operational Debt”.
Employee Benefits Constitute Operational Debt
A claim was made in respect of the non-payment of pending salary and other settlement benefits such as leave encashment, Leave Travel Allowance, and bonus.
Does amount advanced as loan without proper proofs/documentations constitute a Financial Debt?
The matter is that in a situation where the Applicant is unable to prove the amount advanced as loan without proper documentations, such loan amount would not meet the requirements of a “Financial Debt”.
Claims towards the lease of immovable property do not fall within the definition of Operational Debt under IBC
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.
Insolvency does not bar Criminal Action- Madras HC
There is a reaffirmation that the moratorium granted by the Court does not cover pending criminal litigation.
Further litigation/alternative remedy cannot be pursued by creditors whose claim is taken into consideration within resolution plan
The Appellants cannot be permitted to pursue alternative remedy of suit/arbitration proceeding even if pending as Resolution Plan is binding on all the stakeholders.
Claim for damages cannot be an Operational Debt under IBC- Flipkart Analysis
The Hon’ble Karnataka High Court on Oct 25, 2019, stayed the insolvency proceedings on the grounds that the Tribunal lacked jurisdiction to adjudicate a claim for damages.
Amount paid towards lease of immovable property not an Operational Debt- NCLAT
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.
How an individual Home-Buyer can now proceed before NCLT?
Alternatives that an individual home buyer has in cases when the priority is refund and how they can proceed before NCLT or in other words exploit a long standing loophole.
Revival of Construction Project from Insolvency
This article aims to caution and summarize the Corporate Insolvency Resolution Process with respect to buyers seeking revival and completion of Project.
Creditors Recover of INR 3.75 Lakh Crore in 1.6 years at IBC/NCLT Pre- Admission Stage
The recovery rate has increased almost three times i.e. from 26.5% in 2018 to 71.6% in 2019 and the time taken for recovery improved from 4.3 years to 1.6 years within a short span of one year.
Recovery of Money in a Speedy Manner
Money matters are a sensitive issue for everyone involved in the business as nobody would want to leave or lose their hard-earned money like that.
Executing order under Karnataka RERA
The manner of recovery of interest, penalty and compensation and the same is to be carried out in the manner provided in Karnataka Land Revenue Act 1967 and the rules made there under.
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