I&B Code: Supreme Court Relaxes Time Period for Rectifying Defects in the Application
In its latest judgment[1], the Supreme Court of India examined whether the time limit of 7 days prescribed under Insolvency and Bankruptcy Code (the “Code”) for rectifying or removing defects in the application filed by
SC Rules Directors have no right to file appeal on behalf of the company after the appointment of Insolvency Professional
In one of the first substantive ruling of the Supreme Court under Insolvency and Bankruptcy Code 2016(“the Code”), the Supreme Court held that once insolvency professional is appointed to manage the company, the erstwhile directors
Civil Court Decree Holders Cannot Invoke Insolvency Code
In a recent judgment, the National Company Law Tribunal Principal Bench at Delhi[1](“NCLT”), while deciding an application for initiating corporate insolvency resolution process under the Insolvency and Bankruptcy Code 2016 (the “Code”), held that the
Anark Aluminium, a joint venture of RAKIA, moves NCLT
Anark Aluminium a joint venture between UAE’s Ras Al Khaima Investment Authority (“RAKIA”) and India’s Penna Group has moved National Company Law Tribunal (“NCLT”) under the Insolvency and Bankruptcy Code 2016 (“IBC”). This is the
Operational Creditors Cannot File Joint Application
Operational Creditors Cannot File Joint Application National Company Law Appellate Tribunal (“NCLAT) in Uttam Galva Steel Limited Vs. DF Deutsche Forfaight AG[1] considered the following questions under Insolvency & Bankruptcy Code (the “Code”): Whether a
Disclosure of proceeding under Negotiable Instrument Act is immaterial while filing Insolvency Proceedings
The Kolkata bench of the National Company Law Tribunal (“NCLT”) held that while filing an application for insolvency under the Insolvency and Bankruptcy Code 2016 (the “Code”) it was not necessary to disclose the fact
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