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Role of Resolution Professional in CIRP: Duties and Operational Challenges

Introduction The Insolvency and Bankruptcy Code implemented and enacted in the year 2016 has brought about drastic changes in the insolvency...

Transferred Winding-Up Petitions Cannot Proceed u/s 9 IBC without Meeting Enhanced ₹1 Crore Default...

Filing IBC Appeal Without Applying for Certified Copy of Impugned Order is No Appeal in Eyes of Law:...

Simultaneous Insolvency Against Borrower and Guarantor Permissible: NCLT Admits Axis Bank’s...

Oppression and Mismanagement Plea Not Maintainable Where Dispute is Purely Contractual: NCLT Refers...

Supreme Court Dismisses Appeal Filed by Suspended Director in Insolvency Case, Terms It “Wholly Incompetent” [Read Judgment]

In a recent ruling the Supreme Court of India has dismissed an appeal filed by suspended director of Ambro Asia Private Limited, ruling that the appeal was “wholly incompetent” and incapable of...

Co-ops Cannot Use Insolvency Process to Enter Unrelated Industries: Supreme Court Defines ‘Same Line of Business’ [Read Order]

In a recent ruling, the Supreme Court has clarified the investment powers of multi‑state cooperative societies, holding that such entities cannot use the insolvency process to acquire companies...

Limitation Act Cannot Extend 14‑Day Appeal Period: NCLAT Dismisses Appeal for 1616-Day Delay in Claim Rejection Challenge [Read Order]

In a recent ruling, theNational Company Law Appellate Tribunal (NCLAT) Chennai has held that the 14-day appeal period prescribed under Section 42 of the Insolvency and Bankruptcy Code (IBC) is...

NCLT Fails to Consider Balance Sheet Debt Acknowledgments and COVID Limitation Relief: NCLAT Restores UCO Bank’s Insolvency Proceedings [Read Order]

The National Company Law Appellate Tribunal(NCLAT) allowed the insolvency proceedings initiated by UCO Bank under Section 7 of the Insolvency and Bankruptcy Code, 2016, as the NCLT was in error in ...

12 Years Mortgage Limitation Under Article 62 Not Applicable to CIRP Claims: NCLT Applies 3 Years Limitation [Read Order]

In a recent ruling, the National Company Law Tribunal (NCLT) Mumbai Bench has held that the 12‑year limitation period under Article 62 of the Limitation Act for mortgage enforcement does not apply...

Finality of Implemented Resolution Plan Prevails Over Creditor’s Claim: NCLAT [Read Order]

In a recent ruling, the National Company Law Appellate Tribunal (NCLAT), Chennai bench, held that once a resolution plan has been approved and implemented, a challenge by an operational creditor...

Modification of SFIO Probe not Review, Only Change of Agency: NCLAT [Read Order]

The National Company Law Appellate Tribunal (NCLAT), Chennai Bench, has held that merely changing the investigating agency from the Serious Fraud Investigation Office (SFIO) to an Inspector...