SALARIES OF THOSE EMPLOYESS WHO WORKED DURING CIRP CONSTITUTE CIRP COSTS & PROVIDENT FUND, GRATUITY FUND TO BE KEPT OUT OF THE LIQUIDATION ESTATE
The Supreme Court bench comprising of Justices MR Shah and Aniruddha Bose in the recent Judgement1 held that: – the wages or salaries of only such workmen/employees, who worked during the Corporate Insolvency Resolution Process
NCLT CAN ISSUE NON BAILABLE WARRANT AGAINST PERSON UNDER IBC: NCLAT
National Company Law Appellate Tribunal (“NCLAT”) in Vikram Puri vs Universal Builders1 held that the adjudicating authority has jurisdiction under Insolvency and Bankruptcy Code 2016 (“IBC”) to issue non-bailable warrant against persons. The decision was
Balance sheet entries can amount to acknowledgement of debt under Section 18 of Limitation Act
The Supreme Court in Asset Reconstruction Company (India) Limited vs. Bishal Jaiswal & Anr.[1] has ruled that entries in balance sheets can amount to acknowledgement of debt for the purpose of extending limitation under Section
NCLT has limited jurisdiction, cannot substitute any commercial term of resolution plan approved by Committee of Creditors
The Supreme Court in Jaypee Kensington Boulevard Apartments Welfare Association & Ors. vs. NBCC (India) Ltd. & Ors.[1] has issued a significant judgment on the powers and jurisdiction of the National Company Law Tribunal (NCLT)
Section 14 of Limitation Act applies to application under Section 7 of I&B Code
The Supreme Court in Seth Nath Singh & Anr vs. Baidyabati Sheoraphuli Co-operative Bank Ltd & Anr[1] has ruled that an applicant under Section 7 of the Insolvency and Bankruptcy Code (“I&B Code”) can claim
Moratorium under I&B Code to include proceedings of cheque dishonor & Section 34 of Arbitration Act
The Supreme Court of India in P Mohanraj and others vs. M/s Shah Brothers Ispat Ltd[1] has held that the moratorium under Section 14 of the Insolvency and Bankruptcy Code (the “Code”) also covers proceedings
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