Promoter Eligible to Submit Resolution Plan even if MSME Registration obtained Post Commencement of CIRP: SC [Read Judgement]
The Supreme Court in a recent ruling held that the promoter is eligible to submit resolution plan even if MSME registration obtained post...
Delay by RP to act as per directions given by Committee of Creditors for obtaining records of CD: IBBI suspends Registration of RP [Read Order]
The Insolvency and Bankruptcy Board of India (IBBI) suspended the registration of a Resolution Professional (RP), on the ground of delay on the side of Resolution Professional to act as per...
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]")