Can a delay caused by a stay granted by a Higher Court in implementation of a Resolution Plan be excluded from the time given for the implementation of the Resolution Plan?
Introduction: In the matter of Majestic Auto Limited v. Sharan Hospitality Pvt Ltd. & Anr.[i], the Hon’ble NCLAT held that when a Higher Court grants a stay order which puts an embargo on implementation of
Insights on the Proposed Amendments to the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Process) Regulations, 2016.
The Insolvency and Bankruptcy Board of India (IBBI) released a discussion paper on 19th June, 2024, seeking comments on four proposed changes to the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate
Interim Moratorium under section 96 of IBC, kicks in from the date when the Application was filed and the date shall not be the date when the Application is numbered
INTRODUCTION: In the case of Ms. Sangita Arora v IFCI Limited & Anr., the Hon’ble NCLAT held that the interim Moratorium is enforced from the date of filing of the Application made under section 95 of Insolvency
Uphealth Holdings INC. vs Dr. Syed Sabahat Azim & Ors. – Moratorium declared by U.S. Court under Insolvency Laws is not binding to Stay Proceedings in Indian Courts: Calcutta HC
Introduction: In the case of Uphealth Holdings INC. vs. Dr. Syed Azim & Ors., the Calcutta High Court while dismissing the Revision Petition held that moratorium declared under the United States Bankruptcy Law is not
Related Parties of the Corporate Debtor cannot circumvent Proviso to Section 21(2) of IBC by Assignment of Financial Debt to a Third Party: NCLAT Delhi
Introduction In the case of Peanence Commercial Pvt. Ltd. & Ors. v. Mamta Binani (RP for Rolta India Limited)[1], the Hon’ble NCLAT upheld the decision of NCLT Mumbai Bench stating that merely assignment of financial
Section 5(2) of the SARFAESI Act contains a deeming clause that allows the ARC to pursue the Section 7 IBC proceedings, in cases where an Assignment Agreement is duly registered: NCLAT Delhi
In the case of Emta Coal Ltd. v. L&T Finance Ltd. and Anr., the National Company Appellate Tribunal vide Order dated 28.05.2024 held that when debt assignment is registered without raising any objections regarding inadequacy
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