Budget 2024-25: FM proposes Additional Tribunals for NCLT, Major IBC Reforms, says 3.3 Lakh Cr recovered in Insolvency Proceedings
In a significant move to bolster the insolvency and debt recovery mechanisms, the Union Budget 2024-25 has introduced a series of strategic...
![Exclusion of stay period of CIRP Petition does not amount to Postponement of Insolvency Commencement date under IBC: NCLT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/CIRP-NCLT-National-Company-Law-Tribunal-NCLT-Mumbai-Corporate-Insolvency-Resolution-Process-Insolvency-and-Bankruptcy-Code-taxscan.jpg "Exclusion of stay period of CIRP Petition does not amount to Postponement of Insolvency Commencement date under IBC: NCLT [Read Order]")
![Lending Institutions Providing Loans to Homebuyers cannot be Treated as Financial Creditors Under IBC: NCLAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/NCLAT-IBC-Insolvency-and-Bankruptcy-National-Company-Law-Appellate-Tribunal-Financial-Creditors-taxscan.jpg "Lending Institutions Providing Loans to Homebuyers cannot be Treated as Financial Creditors Under IBC: NCLAT [Read Order]")
![Foreign Insolvency Judgments from Non-Reciprocating Countries not applicable In Indian Courts in Absence of Cross Border Frame Work: Calcutta HCÂ [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2024/07/Calcutta-High-Court-Calcutta-HC-Upholds-ITATs-Order-Net-Profit-Rate-Gross-Receipts-Unless-Illegality-taxscan.jpg "Foreign Insolvency Judgments from Non-Reciprocating Countries not applicable In Indian Courts in Absence of Cross Border Frame Work: Calcutta HCÂ [Read Judgment]")
Failure to File Claim during Insolvency Proceedings u/s 31 and 32A of IBC: Gujarat HC Abates Income Tax Appeals [Read Order]
The Gujarat High Court abated income tax appeals filed by the Commissioner of Customs (Preventive) due to the failure to file a claim during insolvency proceedings. The appeals arose from an order...
![Failure to File Claim during Insolvency Proceedings u/s 31 and 32A of IBC: Gujarat HC Abates Income Tax Appeals [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Insolvency-Proceedings-IBC-Gujarat-HC-Income-Tax-Appeals-taxscan.jpg "Failure to File Claim during Insolvency Proceedings u/s 31 and 32A of IBC: Gujarat HC Abates Income Tax Appeals [Read Order]")
Examination of a Pre-Existing Dispute Should Not Exceed Limited Jurisdiction of NCLT under IBC: NCLAT [Read Order]
The National Company Law Appellate Tribunal ( NCLAT ) held that the examination of a pre-existing dispute should not exceed the limited jurisdiction of the National Company Law Tribunal ( NCLT )...
IBC Provision not Mandates Treatment of Related Party at Par with unrelated Party: NCLAT upholds NCLT Order [Read Order]
The National Company Law Appellate Tribunal, Principal Bench while upholding the National Company Law Tribunal ( NCLT ) has held that the Insolvency Bankruptcy Code ( IBC ), 2016 does not provide...
Delhi GST Dept Issues New Guidelines to Safeguard Government Revenue in GST and DVAT Refunds [Read Instruction]
The Delhi GST ( Goods and Services Tax ) department, vide instructions to safeguard the government revenue in the GST and DVAT ( Delhi Value Added Tax ) refunds. The Insolvency and Bankruptcy Code...
![Delhi GST Dept Issues New Guidelines to Safeguard Government Revenue in GST and DVAT Refunds [Read Instruction]](https://www.taxscan.in/wp-content/uploads/2024/05/GST-Delhi-GST-DVAT-GST-and-DVAT-Refunds-New-Guidelines-Tax-news-Government-Revenue-in-GST-Refunds-Taxscan.jpg "Delhi GST Dept Issues New Guidelines to Safeguard Government Revenue in GST and DVAT Refunds [Read Instruction]")
No Bar to Accepting Application u/s 7 of IBC filed within 3 years of OTS Proposal: NCLAT [Read Order]
The Principal Bench of the National Company Law Appellate Tribunal ( NCLAT ) has held that there is no bar to accepting applications under section 7 of the Insolvency Bankruptcy Code ( IBC ) filed...
Parties must be provided with Requisite Documents that form Basis of SCN for proceedings under IBC: Delhi HC [Read Order]
In a recent decision, the Delhi High Court held that the parties must be provided with requisite documents that form basis of the show cause notice ( SCN ) for proceedings under the Insolvency and...
