Tag: NCLT

Conundrum of Limitation Period under IBC and Inapplicability of the Doctrine of Election

Recently the Supreme Court in the case of Tottempudi Salalith v State Bank of India & Ors.[1] (Tottempudi Salaith) held that the doctrine of election cannot be applied to prevent a financial creditor to approach the National company law tribunal (NCLT) for initiating a Corporate Insolvency Resolution Process (CIRP) against the corporate debtor under Section … Continue reading Conundrum of Limitation Period under IBC and Inapplicability of the Doctrine of Election

Read more »

Subscription And Allotment Of Shares

INTRODUCTION Raising capital is extremely crucial for every business. Capital can be either owned or borrowed. Owned Capital is known as Equity and Borrowed Capital is known as Debt. Equity is raised by issuing instruments called securities in the form of shares which are purchased by shareholders or members of the company. Shares are a … Continue reading Subscription And Allotment Of Shares

Read more »

Proposed Amendments To The Insolvency And Bankruptcy Code

Insolvency and Bankruptcy Code, 2016, as amended (“Code”) regulations claim that countless cases of failing real estate businesses, including significant players like Jaypee Infratech, and Supertech, have been stalled at various stages of insolvency procedures over the past few years. It is being estimated that 344 corporate debtors involved in construction and real estate operations … Continue reading Proposed Amendments To The Insolvency And Bankruptcy Code

Read more »

Status Of Homebuyers Upon The Anvil Of IBC, 2016

Introduction The status of homebuyers upon the anvil of “Insolvency and Bankruptcy Code, 2016” has been watched like a hawk for a while. Burying the lead, the Insolvency and Bankruptcy Code came into picture in 2016. It was put in place to combat a sharp increase in the NPAs. The goal of the code was … Continue reading Status Of Homebuyers Upon The Anvil Of IBC, 2016

Read more »

Settling an incertitude conundrum: Whether the Adjudicating Authority is mandated to admit the application under Section 7 of the IBC without considering the extraneous matters involved?

Introduction To start a Corporate Insolvency Resolution (CIRP) against a Corporate Debtor, the Financial Debtor must file an application before the Adjudicating Authority under Section 7 of the Insolvency & Bankruptcy Code (IBC). The highlight of this section is that the Adjudicating Authority, after admitting the application, shall give an order within seven days of … Continue reading Settling an incertitude conundrum: Whether the Adjudicating Authority is mandated to admit the application under Section 7 of the IBC without considering the extraneous matters involved?

Read more »

Discretionary power of the Adjudicating Authority to reject CIRP applications under Section 7(5)(a) of the IBC

The National Company Law Tribunal and the National Company Law Appellate Tribunal has traditionally held that it is mandatory for the Corporate Insolvency Resolution Process(CIRP) to be initiated once the existence of a debt has been established under Section 7(5) of the Insolvency and Bankruptcy Code, 2016. There was no separate interpretation of Section 7(5) … Continue reading Discretionary power of the Adjudicating Authority to reject CIRP applications under Section 7(5)(a) of the IBC

Read more »

Jet Airways: An Insolvency Resolution Journey

Jet Airways, which started off as an air taxi operator in 1993 and became a scheduled carrier in 1995, has been under insolvency for two years after it shut operations in April 2019 under a heavy debt. Jet Airways  is the first Indian carrier/airline to undergo insolvency proceedings under the Cross Border Insolvency Protocol along with … Continue reading Jet Airways: An Insolvency Resolution Journey

Read more »

TATA Consultancy Services Limitedv.Vishal Ghisulal Jain, Resolution Professional, SkWheels Private Limited

(Supreme Court of India) Civil Appeal No 3045 of 2020 The appeal stemmed from a ruling given on June 24, 2020 by the National Company Law Appellate Tribunal (“NCLAT”). The NCLAT affirmed an interim order issued by the National Company Law Tribunal (“NCLT” or “Adjudicating Authority”) on December 18, 2019, preventing the appellant from terminating … Continue reading TATA Consultancy Services Limitedv.Vishal Ghisulal Jain, Resolution Professional, SkWheels Private Limited

Read more »

Scope Of NCLT & NCLAT’s Powers Under Section 7 Of IBC, 2016

INTRODUCTION The NCLT was established under Section 408 of the Companies Act, 2013 18 of 2013 w.e.f 01st June 2016 to exercise and discharge all duties and functions conferred on it by or under this Act or any other law in force at the time. The IBC’s institutional foundation called for the creation of a … Continue reading Scope Of NCLT & NCLAT’s Powers Under Section 7 Of IBC, 2016

Read more »

Summarizing the interface between Negotiable Instruments Act and the Insolvency Code in P. Mohanraj V Shah Brothers Ispat

Introduction The Supreme Court of India recently pronounced the milestone judgment of P. Mohanraj V. Shah Brothers Ispat Pvt. Ltd. One specific question raised in the said judgment related to whether the scope of Section 14 of the Insolvency and Bankruptcy Code, 2016 (“IB Code”) would cover the magnitude of the Negotiable Instruments Act of … Continue reading Summarizing the interface between Negotiable Instruments Act and the Insolvency Code in P. Mohanraj V Shah Brothers Ispat

Read more »

Categories

Archives

  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • September 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010