Supreme Court Upholds that Dues of Central Board of Indirect Taxes & Customs, Department of Revenue to be paid according to the Waterfall Mechanism
In a notable Judgment dated 30.10.2023 in the case of Principal Commissioner of Customs V Rajendra Prasad Tak & Ors[1], the Hon’ble Supreme Court held that the dues of the Central Board of Indirect Taxes
IBBI Proposes Measures to Smoothen IBC Process for Real Estate Projects
In what appears to be a huge relief for homebuyers, the Insolvency and Bankruptcy Board of India (IBBI) in its Discussion Paper titled ‘Real-Estate Related Proposals- CIRP & Liquidation’ has proposed five measures to smoothen
Supreme Court Upholds Constitutional Validity of Insolvency Resolution Provisions Pertaining to Personal Guarantors
The Supreme Court in Surendra B. Jiwrajika and Anr. vs. Omkara Assets Reconstruction Private Limited[i] upheld the constitutionality of the provisions under Part-III, Chapter-III of the Insolvency and Bankruptcy Code, 2016 (I&B Code) pertaining to
Supreme Court Re-Affirms The Law Laid Down In The Case Of Rainbow Papers By Dismissing Review Petition
Introduction The recent judgment of the Supreme Court comes as a major drawback to lenders as the Court dismissed the Review Petitions filed by the Lenders seeking review of earlier judgment passed by the Court.
The SC Clarifies The Limitation Period For The Purposes Of Initiating CIRP And Lodging Claim During CIRP On The Basis Of A DRT Recovery Certificate As Financial Debt.
The Hon’ble Supreme Court (SC) in the case of Tottempudi Salalith Vs. State Bank of India & Ors.[1] has affirmed its previous judgments and held that a DRT Recovery Certificate holder shall have, from the
Auction Purchaser Is King: Supreme Court Upholds The Sanctity Of The Auction Process As Envisaged By The SARFAESI Act Over The Right To Redemption Of A Mortgagor
In a recent decision[i], the Hon’ble Supreme Court[ii] [“SC”] has declared that the auction procedure laid down in section 13 (8) of the Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act,
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