No Petition Maintainable before NCLT u/s 95 of IBC Against Partnership Firm/Directors
The Karnataka High Court has held that filing a petition against a partnership firm or its Directors under Section 95 of the Insolvency and...
Section 29A(C) of IBC disqualifies persons Managing and Controlling Corporate Debtor who Failed to Clear Debts: NCLAT [Read Order]
The New Delhi Bench of the National Company Law Appellate Tribunal ( NCLAT ) ruled that Section 29A(C) of the Insolvency and Bankruptcy Code, 2016 ( IBC ) disqualifies persons managing and...
Gujarat HC permits use of electronic devices such as Mobile Phone, Laptop or Tablet at NCLT Ahmedabad during Hearings
A Single Bench of Gujarat High Court, composed of Justice Vaibhavi D. Nanavati, allowed the use of electronic devices during court hearings before the National Company Law Tribunal ( NCLT ) in...
ICAI Reprimands CA for Misrepresenting as Managing Director Role Post-Resignation before Stakeholders and Bank Officials
The Institute of Chartered Accountants of India ( ICAI ) reprimanded a Chartered Accountant ( CA ) for misrepresenting himself as the Managing Director of a company, despite having resigned from the...
Non-Acceptance of Goods by Corporate Debtor does not equate to Operational Debt u/s 5(21) of IBC: NCLT [Read Order]
The National Company Law Tribunal ( NCLT ) has held that the non-acceptance of the goods by the Corporate Debtor cannot be equated with default in respect of an operational debt. Section 5 (21) of...
Moratorium u/s 14 of IBC imposed legal 'Embargo' not only on Financial Creditors but on any other person for Sale of Assets in CIRP: NCLT [Read Order]
The Hyderabad bench of the National Company Law Tribunal ( NCLT ) has held that a Moratorium under section 14 of the Insolvency Bankruptcy Code ( IBC ),2016 imposed a legal 'Embargo' not only on...
