The Arbitration and Conciliation Act, of 1996, plays a pivotal role in providing a legal framework for resolving disputes outside the traditional court system.
When disputes arise between parties in a business or legal context, there are various ways to resolve them. One effective method is arbitration, where an impartial and independent body, known as an arbitral tribunal, is appointed to settle the dispute outside of traditional court proceedings.
Lotteries have been enticing people with the promise of a life-changing jackpot for many years. With the advancement of technology, online lotteries have become increasingly popular, allowing people to participate from the comfort of their homes.
In recent times, societal norms have evolved, and various forms of relationships have emerged beyond the traditional concept of marriage. One such arrangement is a live-in relationship, where two individuals choose to live together without getting married.
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.
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.
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.
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.
Hon’ble Supreme court declared that the provisions of IBC (Code) to be interpreted liberally to expand the objective of the Statute.
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.
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.
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.
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”.
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.
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.