Mondaq All Regions - India: Insolvency/Bankruptcy/Re-structuring
Singh & Associates
The law of insolvency and bankruptcy is in its evolving phase, learning from the past slipups and longing for its improvement for the future.
AMLEGALS
This appeal has been preferred by Mr. Sanjay Kumar Ruia (herein after referred to as Appellant) erstwhile 'Resolution Professional' of 'S.N. Plumbing Private Limited' against the order passed by the NCLT, Mumbai.
IndiaLaw LLP
In a recent judgment delivered by the Hon'ble Supreme Court presided by the division bench of R.F. Nariman J. And M.R. Shah J. dated 12th December 2018 in Jaipur Metals and Electricals Employees
IndiaLaw LLP
List of applications admitted by NCLTs under Insolvency and Bankruptcy Code, 2016 with details of public announcements inviting claims
IndiaLaw LLP
In a judgment with far reaching consequences in Brilliant Alloys Private Limited Vs. Mr. S. Rajagopal & Ors, a bench of the Supreme Court consisting of Mr. J Rohinton Fali Nariman and Mr. J Navin Sinha
Khaitan & Co
The NCLAT, vide its judgment in Usha Holdings LL.C. & Anr v Francorp Advisors Pvt Ltd (Company Appeal (AT) (Insolvency) No. 44 of 2018) dated 30 November 2018, held that the NCLT cannot determine ...
King, Stubb & Kasiva
Hon'ble National Company Law Appellate Tribunal in the case of Binani Industries Limited V. Bank of Baroda & Anr. on November 14, 2018 along with other connected matters has pronounced its ruling ...
VGC Law Firm
Thus, the Supreme Court did not explicitly strike down Regulation 30A, but construed it be directory in terms of the facts of each case.
AMLEGALS
The liability of the guarantors is co-extensive with the borrower and the IB Code is not a recovery suit.
Dhir & Dhir Associates
The Regulations earlier provided payment of liquidation value to OCs and dissenting FCs in priority.
AMLEGALS
NCLT may admit or reject such an application.
Trilegal
An interesting question that recently arose before the NCLT was whether an undertaking of a Corporate Debtor under a put option ...
Dhaval Vussonji & Associates
This highlights the importance of having crystallized terms in respect of any lending in the absence of which a creditor may possibly not have recourse under the Code.
Dhaval Vussonji & Associates
While these companies formed a joint venture for developing the project, they did not register this joint venture as a separate company.
IndiaLaw LLP
Insolvency & Bankruptcy Code (Amendment) Ordinance, 2018 settled uncertainty regarding the applicability of Limitation Act 1963 over proceeding under the Insolvency and Bankruptcy Code 2016.
IndiaLaw LLP
The Supreme Court of India delivered two judgments under the Insolvency and Bankruptcy Code 2016 ("Code") recently.
IndiaLaw LLP
In a landmark judgment, National Company Law Appellate Tribunal settled law under Insolvency and Bankruptcy Code 2016 in respect of claims arising out of counter corporate guarantee and non-invoked guarantee.
IndiaLaw LLP
The Supreme Court of India in BK Education Services Private Limited vs. Parag Gupta and Associates held that Section 238 A of the Insolvency and Bankruptcy Code, which was inserted pursuant to an amendment dated 6th August 2018, ...
Singh & Associates
The Insolvency & Bankruptcy Code was enacted in the year 2016. Since then there have been divergent views regarding the application of the Limitation Act, 1963, to the proceedings under the Insolvency & Bankruptcy Code, 2016.
Khaitan & Co
Leasing of aircrafts is a prevalent market practice in the aviation industry, and all existing airline operators in India have currently leased a significant number of aircrafts in their fleet.
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Dhaval Vussonji & Associates
The Insolvency and Bankruptcy Code, 2016 (IBC) has consolidated and amended the laws relating to reorganization and insolvency of corporate persons, partnership firms and individual firms.
Clarus Law Associates
On 11.10.2018, a division bench of the Hon'ble Supreme Court of India comprising of Justice R.F. Nariman and Justice Navin Sinha in the matter of B.K. Educational Services Private Limited v Parag Gupta And Associates, ...
AMLEGALS
The amount of any liability in respect of any of the guarantee or indemnity for any of the items referred to in sub-clauses (a) to (h) of this clause.
Fair & Just Legal Solutions LLP
The NCLT, Mumbai, accepted the application of Nisus and passed the order for commencement of insolvency resolution process.
Fair & Just Legal Solutions LLP
The Insolvency and Bankruptcy Code, 2016 ("Code") is considered as one of the biggest economic reforms.
Singh & Associates
Insolvency and Bankruptcy Code, 2016 is enacted to consolidate and amend laws pertaining to insolvency and resolution. Part Ii of the Code deals with the Insolvency Resolution and Liquidation for ‘Corporate persons'.
IndusLaw
Earlier this month, the Supreme Court of India (the "SC") passed a much-awaited judgment concerning the eligibility of resolution applicants for Essar Steel India Limited.
Trilegal
The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018 brings about significant changes to improve the insolvency resolution framework in India.
S.S. Rana & Co. Advocates
The amendments to the IBC have made an attempt to ensure that only viable resolution plans from credible sources are accepted.
Dhir & Dhir Associates
The moratorium in terms of Insolvency and Bankruptcy Code, 2016 (‘IBC') means a period wherein no judicial proceedings for recovery, enforcement of security interest, sale or transfer of assets, or termination of essential contracts can be instituted or continued against the Corporate Debtor.
Dhaval Vussonji & Associates
This highlights the importance of having crystallized terms in respect of any lending in the absence of which a creditor may possibly not have recourse under the Code.
VGC Law Firm
It is apparent from the ongoing practice that IRPs consider the date of receipt of order as the date of the appointment.
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