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Tag Archive for "corporate-debtor" -

CentrikBlogscorporate debtor

Tag: corporate debtor

Lease Premium & Lease Rent not included in Explanation to Section 14(1)(D) of the IBC, 2016

Posted by RiyaPosted on March 19, 2023March 20, 20230 CommentsCategories Authentic Legal Advice, Corporate Litigation-All In Way, Debt Recovery Management, Insolvency & Bankruptcy Code 2016, Legal AdvisoryTags corporate debtor, corporate insolvency resolution process, corporate insolvency resolution process (CIRP), Insolvency and Bankruptcy Code, Moratorium under IBC, Moratorium under section 14 of the IBC, National Company Law Appellate Tribunal

The lease premium and rent given to the Corporate Debtor are not included in Section 14(1)(D) of the Insolvency and Bankruptcy Code, 2016.

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IBC Overrides the Limitation Act

Posted by Pulkit JoshiPosted on February 6, 2023February 7, 20230 CommentsCategories Authentic Legal Advice, Corporate Litigation-All In Way, Debt Recovery Management, Insolvency & Bankruptcy Code 2016Tags Appeal under the IBC Regime, Bank filed the claim on money, CIRP proceedings, claim on money by the Bank, corporate debtor, IBC Overrides the Limitation Act, Innoventive Industries Limited v. ICICI Bank Limited ICICI, Limitation under IBC, Money under the MRUA Act

In the recent case given by the retired Hon’ble Supreme court Judge CJI Ramana. He said that in case of any conflict, the IBC will override the Customs Acts.

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Operational Debt Includes Advance Payment Made to a Corporate Debtor for the supply of Goods or Services: SC

Posted by Advocate Chetna BishtPosted on February 4, 20230 CommentsCategories Government Advisory, Legal Advisory, Tax AdvisoryTags advance payment given to a corporate debtor for the supply of goods or services, Claim of refund of advance payment, corporate debtor, financial debt under IBC, Is advance payment an operational debt?, operational creditor under ibc, Operational debt, Operational Debt under IBC, operational debt vs financial debt

A debt arising from an advance payment given to a corporate debtor for the supply of goods or services would be deemed an operational debt.

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Wages/salaries of only those employees who worked during the Corporate Insolvency Resolution Process are to be included in CIRP costs, rules SC

Posted by AdminPosted on January 22, 20230 CommentsCategories Authentic Legal Advice, Corporate Litigation-All In Way, Debt Recovery Management, Insolvency & Bankruptcy Code 2016, Legal AdvisoryTags Appellants filed an appeal, CIRP Cost under IBC, corporate debtor, corporate insolvency resolution process, employee dues under ibc, gratuity in case of insolvency, Insolvency Resolution Process, Interim resolution professional, resolution professional, salaries as part of CIRP costs, wages/salaries as part of CIRP costs, what happens to employees when a company goes into liquidation in india, what is cirp cost

The claims filed/to be submitted by the workers of the appellant must be decided upon and taken into consideration by the Liquidator even if RP has not submitted the claims towards the wages/salaries as part of CIRP costs.

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Supreme Court’s Road Map to interpret The IBC Code for better Resolution

Posted by AdminPosted on August 9, 2022August 13, 20220 CommentsCategories Authentic Legal Advice, Corporate Litigation-All In Way, Debt Recovery Management, Insolvency & Bankruptcy Code 2016, Legal AdvisoryTags Asset Reconstruction Company vs Tulip Star Hotels, challenges of IBC, corporate debtor, corporate insolvency resolution process steps, current issues in insolvency law, Financial Creditor, non-performing asset, Provisions of IBC, what is insolvency resolution process

Hon’ble Supreme court declared that the provisions of IBC (Code) to be interpreted liberally to expand the objective of the Statute.

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Is Adjudicating Authority under obligation to accept an application against a Corporate Debtor u/s 7?

Posted by shravyapathakPosted on July 27, 2022August 29, 20220 CommentsCategories Authentic Legal Advice, Corporate Litigation-All In Way, Debt Recovery Management, Insolvency & Bankruptcy Code 2016Tags applicant under section 7 of IBC, application against a Corporate Debtor, CIRP against the Appellant, corporate debtor, corporate debtor under IBC, file application under NCLT, filed an appeal before APTEL, financial creditor as resolution applicant, initiation of CIRP by operational creditor, issue before the Supreme Court, procedure of filing in NCLT, section 7 IBC procedure, section 7 of IBC case laws

The Adjudicating Authorities have been given discretionary powers under section 7(5)(a) of I&B Code, 2016. The Authorities are required to apply their mind and take into consideration all facts and circumstances.

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IBC Pecuniary Threshold: – Interest Component to Be Merged with Principal Debt?

Posted by AdminPosted on July 25, 2022July 30, 20220 CommentsCategories Authentic Legal Advice, Corporate Litigation-All In Way, Debt Recovery Management, Insolvency & Bankruptcy Code 2016Tags CIRP against Corporate Debtor, CIRP process initiated against the corporate debtor, Component of EMI, corporate debtor, date of default under IBC, Insolvency and Bankruptcy Code, Interest Component, interest on delayed payment, NCLAT latest Judgement, Pavan Enterprises vs. Gammon India, right to claim under IBC, threshold limit under IBC, What is principal and interest on debt?, What is the interest component?

The interest component can include in the principal debt to acquire a minimum threshold limit i.e., 1 crore if delayed payment stipulated in the agreement or invoice.

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Section 7 of the IBC is covered by Section 14 of the Limitation Act

Posted by ajay.shuklaPosted on March 28, 2021March 30, 20210 CommentsCategories Corporate Litigation-All In Way, Insolvency & Bankruptcy Code 2016, RERA ConsultingTags applicability of limitation act to insolvency proceedings, corporate debtor, corporate debtors under the Insolvency and Bankruptcy Code, IBC against corporate guarantor, IBC and SARFAESI, Insolvency and Bankruptcy Code, judgment of the NCLAT, Limitation Act and IBC, NCLAT Judgment, proceedings in the NCLT, Proceedings under the IBC in the NCLT, proceedings under the SARFAESI Act, Supreme Court on Limitation Act under IBC

Hon’ble Supreme Court has held that in an application under Section 7 of the Insolvency and Bankruptcy Code, the applicant can claim the benefit of Section 14 of the Limitation Act, in respect of proceedings under the SARFAESI Act.

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All About- Moratorium and its relevance under IBC

Posted by Adv. Asmita Chaudhary NagpalPosted on March 31, 2020April 1, 20200 CommentsCategories Insolvency & Bankruptcy Code 2016Tags assets of the Corporate Debtor, case pending before supreme court, corporate debtor, date of declaration of the moratorium, insolvent company, Moratorium and its relevance under IBC, Moratorium under IBC, pendency of proceedings against the Corporate Debtor, petition against the Corporate Debtor, petition filed against the company, provisions of the IBC, Punishment for Violation of Moratorium, recovery against the Corporate Debtor, Recovery under SEBI

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”. 

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Further litigation/alternative remedy cannot be pursued by creditors whose claim is taken into consideration within resolution plan

Posted by akshaydhawanPosted on February 9, 2020February 17, 20200 CommentsCategories Insolvency & Bankruptcy Code 2016Tags alternative remedy of arbitration proceeding, corporate debtor, Financial Creditors, IBC, Insolvency and Bankruptcy Code, insolvency proceedings against the corporate debtor, operational creditors, Resolution Plan, revised 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.

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Amount paid towards lease of immovable property not an Operational Debt- NCLAT

Posted by ShriyamehtaPosted on February 1, 2020February 3, 20200 CommentsCategories Insolvency & Bankruptcy Code 2016Tags application before the NCLT, corporate debtor, definition of operational debt, demand notice against the Corporate Debtor, Insolvency and Bankruptcy Code 2016, insolvency proceedings against the corporate debtor, issues before NCLAT, operational debt under Insolvency and Bankruptcy Code, types of debt, what if Corporate Debtor failed to pay the rent

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.

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Government’s new policy for Insolvency process

Posted by Adv.AnimeshPosted on September 13, 2019October 1, 20190 CommentsCategories Corporate Litigation-All In Way, Debt Recovery Management, Insolvency & Bankruptcy Code 2016, Legal AdvisoryTags 7 new amendments in the Insolvency and Bankruptcy Code 2016 (IBC), corporate debtor, corporate insolvency resolution process, Financial and Operational Creditor, Insolvency & Bankruptcy, Insolvency Professionals, Insolvency professionals in Delhi, NCLT, New Policy of 330-Days Deadline for Insolvency Process, Top Insolvency professionals in Delhi

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.

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Significance of Submitting demand notice by operational creditor before filing application under Section 9 of IBC

Posted by Advocate Kunal AhujaPosted on May 27, 2019June 3, 20192 Comments on Significance of Submitting demand notice by operational creditor before filing application under Section 9 of IBCCategories Debt Recovery Management, Legal AdvisoryTags corporate debtor, file an insolvency application against the corporate debtor, important of demand notice, why demand notice is important

As per section 8 of IBC an operational creditor, if does not receive amount from corporate debtor, has to deliver a demand notice of unpaid amount along with the copy of invoice demanding payment of the amount involved.

2 Comments on Significance of Submitting demand notice by operational creditor before filing application under Section 9 of IBC
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All about Interim Resolution Professional

Posted by Stupti BanerjeePosted on April 27, 20180 CommentsCategories Debt Recovery ManagementTags corporate debtor, Corporate debtor by interim resolution professional, Interim resolution professional

Detailed article about the management of affairs of corporate debtors by IRP and about their authority.

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What further action can be taken by operational creditor on non-payment of debt?

Posted by Stupti BanerjeePosted on April 23, 2018April 23, 20180 CommentsCategories Debt Recovery ManagementTags corporate debtor, non-payment of debt, Procedure to recover debt for corporate creditor, What further action can be taken by operational creditor

This article is about the further actions to be taken by the Operational creditor after serving a demand notice on Operational debtor.

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