A Journey of Homebuyer in IBC Laws
A tug of war going on between the companies involved in the real estate sector and the homebuyers since the Insolvency and Bankruptcy Code (IBC) came in force in 2016
Search Results for: Insolvency and Bankruptcy Code
Supreme Court extends ‘Limitation Period’ amid COVID-19 Crisis
The timelines prescribed under the Limitation Act or different laws like Insolvency and Bankruptcy Code, 2016, the Arbitration Act, 1996 or any other action will stand extended.
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.
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 to file claims as homebuyers against Raheja developers
NCLT Principal Bench vide its order dated 20.08. 2019 has ordered insolvency proceedings U/S 7 of the Insolvency and Bankruptcy Code, 2016 against Real Estate Developer, M/S Raheja Developers Limited. Every creditor of M/s Raheja Developers need to file their claims before the Insolvency Resolution Professional(IRP).
Provisions of IBC to be rechecked said Uday Kotak
The Government needs to re-look certain provisions of the Insolvency and Bankruptcy Code (IBC) as a situation might emerge where there is only one buyer for a stressed asset
Timely Filing of Claims in case of Real Estate Projects undergoing CIRP
At the initiation of CIRP when a public notice is issued under Section 15, claims of creditors are invited; but in some scenarios in real estate cases, homebuyers are often unable to take note of the public announcement of CIRP owing to different factors.
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.
NCLT Kolkata Allows CIRP Proceedings Despite PMLA Provisional Attachment Order
In a significant ruling, the National Company Law Tribunal (NCLT) Kolkata, comprising Smt. Bidisha Banerjee (Judicial Member) and Shri D. Arvind (Technical Member),
Survival Beyond RP Tenure: NCLT Authority in Avoidance Proceedings
The Insolvency and Bankruptcy legislation is a comprehensive legislation that contains all of the required provisions for providing a haven for business debtors in difficulty.
Real Solution for Real Estate Insolvencies
The major challenges in the insolvency resolution of real estate companies arise from the peculiarities of this sector, especially since the divergent interests of the allottees of the real estate projects do not align with the scheme of the CIRP.
Succinct Summary of The Fast Track CIRP under IBC, 2016
The fast-track CIRP is designed to expedite the insolvency process for smaller companies and enable their efficient restructuring or liquidation.
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.
NCLT can issue non-bailable warrants against persons under IBC: NCLAT
The directors of the suspended corporate debtor filed an appeal against the National Company Law Tribunal’s (“NCLT”) ruling that rejected their request to have a non-bailable warrant issued against them.
An Interplay between the Negotiable Instruments Act, 1881 & IBC 2016
the criminal case brought under Section 138 read with Section 141 of the NI Act against the natural persons would not be over by application of the IBC’s provisions.
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