Adjudicating Authority not Empowered to Substitute its own Assumption with CoC's Commercial Wisdom: NCLAT [Read Order]
The New Delhi Bench of the National Company Law Appellate Tribunal ( NCLAT ) held that the adjudicating authority not empowered to substitute its own...
Resolution Applicant cannot Withdraw or Modify the Resolution Plan after approved by Committee of Creditors: Supreme Court [Read Judgement]
The Supreme Court viewed that resolution applicant cannot withdraw or modify the resolution plan after approved by committee of creditors. The court held that the resolution plan, as submitted by the...
Section 29A(C) of IBC disqualifies persons Managing and Controlling Corporate Debtor who Failed to Clear Debts: NCLAT [Read Order]
The New Delhi Bench of the National Company Law Appellate Tribunal ( NCLAT ) ruled that Section 29A(C) of the Insolvency and Bankruptcy Code, 2016 ( IBC ) disqualifies persons managing and...
Claim submitted Post Approval of Resolution Plan by CoC not liable to be Admitted: NCLAT [Read Order]
The New Delhi Bench of the National Company Law Appellate Tribunal ( NCLAT ) ruled that the claim submitted post approval of the resolution plan by the Committee of Creditors ( CoC ) is not liable to...
IBBI Incorporates Fresh Provisions for Insolvency Professionals' Assignment Resignation [Read Notification]
The Insolvency Bankruptcy Board of India ( IBBI ) has incorporated new provisions with regards to the resignation of the Insolvency Professionals ( IP ) from an assignment vide notification no....
![IBBI Incorporates Fresh Provisions for Insolvency Professionals Assignment Resignation [Read Notification]](https://www.taxscan.in/wp-content/uploads/2024/02/IBBI-Insolvency-Professionals-Assignment-Resignation-IBBI-updates-IBBI-regulations-TAXSCAN.jpg "IBBI Incorporates Fresh Provisions for Insolvency Professionals Assignment Resignation [Read Notification]")
Approval of Resolution Plan below Liquidation Value is within Commercial Wisdom of CoC: NCLAT [Read Order]
The Chennai Bench of the National Company Law Appellate Tribunal ( NCLAT ) observed that the approval of the resolution plan below the liquidation value is within the commercial wisdom of the...
Power vested on RP u/s 25(1) of IBC to Reject CoC's Proposal for Renewal of Bank Guarantees by CD: NCLAT
The Chennai Bench of the National Company Law Appellate Tribunal (NCLAT) observed that power is vested on Resolution Professional under Section 25(1) of the Insolvency and Bankruptcy Code, 2016 (IBC)...
