Amount of Unsuccessful Auction Bidder Forfeited and Added into account of CD, Benefitting Stakeholders of CD Company, amounts to ‘Undue Enrichment’: NCLAT [Read Order]
The National Company Law Appellate Tribunal (NCLAT) ruled that the amount of unsuccessful auction bidder forfeited and added into account of the...
NCLT Directs RP to Appoint An auditor to Conduct Forensic Audit on Irregularities Qua Assets of Corporate Debtor
The National Company Law Tribunal (NCLT) Bench at Indore has directed Resolution Professional (RP)to appoint an auditor to conduct a forensic audit on irregularities qua assets of the corporate...
Adjudicating Authority obligated to initiate the ' Liquidation Process’ u/s 33(1) of the I&B Code when ‘Committee of Creditors’ rejected the resolution plan: NCLT
The Chennai Bench of the National Company Law Tribunal (NCLT) has held that Adjudicating Authority is obligated to initiate the ' Liquidation Process’ u/s 33(1) of the I&B Code when ‘Committee of...
Guarantor shall pay off Debt on Default of Payment to Financial Creditor IL&FS: NCLAT upholds Order of Liquidation [Read Order]
The Principal Bench of the National Company Law Appellate Tribunal (NCLAT) recently held that the guarantor is obligated to pay off the dues of the Corporate Debtor, Infrastructure Leasing &...
![Guarantor shall pay off Debt on Default of Payment to Financial Creditor IL&FS: NCLAT upholds Order of Liquidation [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Debt-Payment-Financial-Creditor-ILFS-NCLAT-Liquidation-taxscan.jpg "Guarantor shall pay off Debt on Default of Payment to Financial Creditor IL&FS: NCLAT upholds Order of Liquidation [Read Order]")
Misconduct of Resolution Professional: IBBI imposes Penalty for Lapses in following Procedure [Read Order]
A Disciplinary Committee (DC) of Insolvency and Bankruptcy Board of India (IBBI) comprising Whole Time Member Jayanti Prasad has recently imposed penalty on Resolution Professional (RP) Sanjeev Ahuja...
![Misconduct of Resolution Professional: IBBI imposes Penalty for Lapses in following Procedure [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Misconduct-Resolution-IBBI-Penalty-TAXSACN.jpg "Misconduct of Resolution Professional: IBBI imposes Penalty for Lapses in following Procedure [Read Order]")
IBBI disposes off 6,172 Complaints and Grievances out of 6,231 against Service Providers under IBC
The Insolvency and Bankruptcy Board of India (Grievance and Complaint Handling Procedure) Regulations, 2017 enable stakeholders to file a grievance or a complaint against service providers under the...
Resolution Professional of its own cannot withhold any plan and refuse to submit same before CoC: NCLAT [Read Order]
The Principle bench of National Company Law Appellate Tribunal has held that Resolution Professional of its own cannot withhold any plan and refuse to submit the same before the Committee of...
![Resolution Professional of its own cannot withhold any plan and refuse to submit same before CoC: NCLAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/04/Resolution-Professional-cannot-withhold-refuse-submit-CoC-Taxscan.jpg "Resolution Professional of its own cannot withhold any plan and refuse to submit same before CoC: NCLAT [Read Order]")
![Suspended Board of Directors cannot replace Resolution Professional: NCLT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/03/Suspended-Board-of-Directors-Resolution-Professional-NCLT-taxscan.jpg "Suspended Board of Directors cannot replace Resolution Professional: NCLT [Read Order]")