Tag: IBC
NCLT to Record Cogent Reasons While Rejecting Resolution Plan u/s 31(2) of IBC: Supreme Court
The Hon’ble Supreme Court of India recently concluded that the National Company Law Tribunal (“NCLT”) while exercising its power under Section 31(2) of the Insolvency and Bankruptcy Code, 2016 (“IBC”) while rejecting a resolution plan
Compulsorily Convertible Debentures Should Be Treated As Equity For The Purpose of IBC: Supreme Court
The debatable issue that arises in corporate laws pertaining to compulsory convertible debentures (CCDs) is whether such CCDs fall under the ambit of financial debt under Insolvency and Bankruptcy Code, 2016 (IBC) or not. A
Sections 95 to 100 of the IBC are Constitutional: Supreme Court
A three-judge bench of the Hon’ble Supreme Court (SC) comprising of Chief Justice of India Dr. DY Chandrachud, Justice JB Pardiwala and Justice Manoj Mishra, while considering a batch of 384 petitions moved under Article
Supreme Court Holds Homebuyers Who Secure Decree under RERA Are Not Different from Other Financial Creditors Under IBC
In a notable judgment[1], the Hon’ble Supreme Court (“SC”) held that homebuyers cannot be treated differently from other ‘financial creditors’ under the Insolvency and Bankruptcy Code, 2016 (IBC) merely on the ground of securing favorable
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
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