Tag: Insolvency and Bankruptcy Code

NCLT should preclude mentioning date of hearing on the order, when the order is pronounced on a later date: Supreme Court 

The Three Judge Bench of Hon’ble Supreme Court (SC) comprising of Chief Justice of India D.Y. Chandrachud, Justices J.B. Pardiwala and Manoj Mishra in Sanjay Pandurang Kalate v. Vistra ITCL (India) Limited and Others[i] clarifiedthat

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

INDIALAW LLP IN NEWS (THE ECONOMIC TIMES– MUMBAI EDITION , 17 FEBRUARY 2020)

Applicability of Limitation Act to Insolvency Cases

The Insolvency & Bankruptcy Code 2016 (“IB Code”) was enacted in 2016. The question of applicability of the the Limitation Act, 1963 (“Limitation Act”) to IB Code continues to be a bone of contention till