CIRP cannot be Initiated Against Jaypee Healthcare Ltd After Full Settlement of Financial Creditors' Claims: NCLAT [Read Order]
The Delhi bench of the National Company Law Appellate Tribunal ( NCLAT ) has set aside the Corporate Insolvency Resolution Process ( CIRP ) initiated...
Timelines under Regulation 35A for Avoidance Applications are Directory, Not Mandatory: Delhi High Court Rules in TATA Steel BSL Case [Read Order]
The Delhi High Court recently ruled in a case that the timelines given under Regulation 35A of the ( Insolvency Resolution Process for Corporate Persons ) Regulations, 2016 ( IBBI ) for applying...
Insolvency Professional Entities are qualified to Appoint as Resolution Professionals: NCLT Holds in Favour of Piramal Capital [Read Order]
The National Company Law Tribunal( NCLT ) held that Insolvency Professional Entities ( IPEs ) are qualified to be appointed as Resolution Professionals ( RPs ) under the Insolvency and Bankruptcy...
Claims cannot be Automatically Treated as CIRP Costs unless directly related to CIRP and approved by CoC: NCLAT [Read Order]
In a recent case, the National Company Law Appellate Tribunal ( NCLAT ) observed that claims cannot be automatically treated as the Corporate Insolvency Resolution Process ( CIRP ) costs unless...
Adjudicating Authority Must Exercise Revisional Jurisdiction to Assess Correctness of COC's Actions: Madras HC [Read Order]
In a recent case, the Madras High Court held that though the Adjudicating Authority may not substitute the commercial wisdom of the Committee of Creditors ( CoC ), however, it must exercise...
Corporate Entity Starts in Clean State on Rejuvenation on Approval of Resolution Plan by NCLT: Calcutta HC [Read Order]
The Calcutta High Court held that after the insolvency proceeding is over and the resolution plan is duly approved by the National Company Law Tribunal ( NCLT ), the corporate entity starts with a...
