Karnataka HC grants Interim Stay on Mantri Developers' CIRP amidst Loan Default Controversy
The Karnataka High Court has granted a temporary stay to the Corporate Insolvency Resolution Process (CIRP) initiated against Mantri Developers Pvt....
![Production of Truncated Documents against CD: NCLT Kochi dismisses CIRP Petition of Phoenix Arc Pvt Ltd [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/02/Truncated-Documents-CD-NCLT-NCLT-Kochi-Kotak-mahindra-bank-CIRP-CIRP-Petition-Phoenix-Arc-Pvt-Ltd-Taxscan.jpg "Production of Truncated Documents against CD: NCLT Kochi dismisses CIRP Petition of Phoenix Arc Pvt Ltd [Read Order]")
Adjudicating Authority being the Appointing Authority of IRP/RP has Jurisdiction to remove RP: NCLT [Read Judgement]
The National Company Law Appellate Tribunal ( NCLT ) held that the adjudicating authority being the appointing authority of Insolvency Resolution Process (IRP)/RP has jurisdiction to remove...
![Adjudicating Authority being the Appointing Authority of IRP/RP has Jurisdiction to remove RP: NCLT [Read Judgement]](https://www.taxscan.in/wp-content/uploads/2023/01/Adjudicating-Authority-IRP-RP-Jurisdiction-NCLT-National-Company-Law-Appellate-Tribunal-Insolvency-Resolution-Process-taxscan.jpg "Adjudicating Authority being the Appointing Authority of IRP/RP has Jurisdiction to remove RP: NCLT [Read Judgement]")
Taking Measures to Prevent Frauds and Failure of Internal Financial Controls is Need of the Hour” for Finance Community, says NFRA Chief
Speaking at the conference on “Financial Reporting and Corporate Governance in the Corporate Sector”, Dr Ajay Bhushan Prasad Pandey, Chairperson, NFRA, said need of the hour for the Finance Community...
‘Operational Creditors’ can claim only Money that is payable as per Section 53 of IBC: NCLT [Read Order]
The Delhi Bench of the National Company Law Tribunal (NCLT) while considering a bunch of appeals has held that ‘Operational Creditors’ can claim only the money that is payable as per Section 53 of...
![‘Operational Creditors’ can claim only Money that is payable as per Section 53 of IBC: NCLT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Operational-Creditors-can-claim-only-Money-that-is-payable-IBC-NCLT-TAXSCAN.jpg "‘Operational Creditors’ can claim only Money that is payable as per Section 53 of IBC: NCLT [Read Order]")
Reappointment is not a Vested Right: Gujarat HC denies to Compel Expedition of Appointment of Judicial Member of NCLT [Read Order]
A Division Bench of the Gujarat HC has recently denied to compel the expeditious appointment of Manorama Kumari as the Judicial Member pursuant to the willingness shown in being reappointed at the...
![Reappointment is not a Vested Right: Gujarat HC denies to Compel Expedition of Appointment of Judicial Member of NCLT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/12/Reappointment-Vested-Right-Gujarat-HC-Expedition-of-Appointment-of-Judicial-Member-of-NCLT-TAXSCAN.jpg "Reappointment is not a Vested Right: Gujarat HC denies to Compel Expedition of Appointment of Judicial Member of NCLT [Read Order]")
Petition to Quash Re-Assessment against Struck-Off Company cannot be Entertained after Restoration by MCA: Delhi HC imposes Cost of Rs. 50,000 [Read Order]
A division bench of the Delhi High Court has imposed a cost of Rs. 50,000 against the assessee for filing petition seeking to nullify the re-assessment under section 148 of the Income Tax Act, 1961...
![Petition to Quash Re-Assessment against Struck-Off Company cannot be Entertained after Restoration by MCA: Delhi HC imposes Cost of Rs. 50,000 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/11/Petition-to-Quash-Re-Assessment-against-Struck-Off-Company-cannot-be-Entertained-after-Restoration-by-MCA-Delhi-HC-TAXSCAN.jpg "Petition to Quash Re-Assessment against Struck-Off Company cannot be Entertained after Restoration by MCA: Delhi HC imposes Cost of Rs. 50,000 [Read Order]")
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...
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]")