Rejecting Resolution Plan over one day delay is not allowable: NCLT Criticises Act of CoC's
The Mumbai bench of the National Company Law Tribunal ( NCLT ) has held that Committee of Creditors' decision to reject the Applicant's plan solely...
Amount on Fabrication and Erection work claimed by Sub Contractor Failed to meet CIRP Cost Definition: NCLAT Sets aside NCLT Order
The Principal Bench of the National Company Law Appellate Tribunal ( NCLAT ) set aside the National Company Law Tribunal ( NCLT ) as the amount of fabrication and erection work claimed by...
No Legal Proceedings during Resolution Process against CD, Only IRP can file Appeal with Creditor Committee Approval: ITAT dismisses Appeal [Read Order]
The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) dismissed the appeal, affirming that no legal proceedings can be initiated during the resolution process against the Corporate Debtor...
![No Legal Proceedings during Resolution Process against CD, Only IRP can file Appeal with Creditor Committee Approval: ITAT dismisses Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/04/No-Legal-Proceedings-Legal-Proceedings-Resolution-Process-CD-IRP-ITAT-taxscan.jpg "No Legal Proceedings during Resolution Process against CD, Only IRP can file Appeal with Creditor Committee Approval: ITAT dismisses Appeal [Read Order]")
Setback to Platino Classic Motors: Kerala HC rules no bar u/s 14 of IBC for Finalisation of Assessment and Adjudication Proceedings [Read Order]
In a setback to Platino Classic Motors India Private Ltd, the Kerala High Court ruled that no bar under Section 14 of the Insolvency and Bankruptcy Code, 2016 (IBC) for Finalisation of Assessment and...
ITAT dismisses Appeal in view the Appointment of Interim Resolution Professional and terms u/s 17 of IBC with granting IRP liberty to file Necessary Application [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the powers of the Board of Directors shall stand suspended and the management of the affairs shall vest with the Interim...
![ITAT dismisses Appeal in view the Appointment of Interim Resolution Professional and terms u/s 17 of IBC with granting IRP liberty to file Necessary Application [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/ITAT-ITAT-dismisses-appeal-appeal-Interim-Resolution-Professional-taxscan.jpg "ITAT dismisses Appeal in view the Appointment of Interim Resolution Professional and terms u/s 17 of IBC with granting IRP liberty to file Necessary Application [Read Order]")
Non-availability of Funds is not a valid reason for Non-opening of Liquidation Bank Account: IBBI warns Insolvency Professional [Read Order]
The Insolvency and Bankruptcy Board of India (IBBI) has held that the non-availability of funds is not a valid reason for the non-opening of the liquidation bank account and warned the Insolvency...
Misconduct: IBBI Imposes Fine of 2 Lakh Rupees on Chartered Accountant/IP for Violation of Regulations [Read Order]
The Insolvency and Bankruptcy Board of India ( IBBI ) has imposed a fine of Rs. 2 lakh on a Chartered Accountant/Insolvency Professional for the alleged contravention of section 12, 25(2)(f),...
![Misconduct: IBBI Imposes Fine of 2 Lakh Rupees on Chartered Accountant/IP for Violation of Regulations [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Misconduct-IBBI-Chartered-Accountant-CA-Insolvency-and-Bankruptcy-Board-of-India-IBBI-Imposes-Fine-taxscan.jpg "Misconduct: IBBI Imposes Fine of 2 Lakh Rupees on Chartered Accountant/IP for Violation of Regulations [Read Order]")