An Insolvency Professional becomes heart and brain of Company under Insolvency, Good reputation and character of a person is very important for appointment as an Insolvency Professional and the decision to determine as to whether a person is fit and proper to be appointed as Insolvency Professional is based on the subjective satisfaction of IBBI – Pooja Menghani Vs. Insolvency and Bankruptcy Board of India & Anr. – Delhi High Court

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Buyer of Not Readily Realisable Assets (NRRA) cannot invoke writ jurisdiction of High Court under Article 226 for recovery where proceedings initiated by RP before selling the NRRA are already pending consideration before NCLT – Rainbow Digital Services Pvt. Ltd. & Anr. Vs. Union of India & Ors. – Delhi High Court

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IBBI comprises of experts is the authority to regulate the functioning of Insolvency Professionals, Courts do not sit as an Appellate Authority over the decisions taken by the experts – Abba Consultants Pvt. Ltd. Vs. Insolvency and Bankruptcy Board of India & Ors. – Delhi High Court

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Whether the provisions of IBC 2016 would override the provisions of Income Tax Act, 1961 and Whether the Income Tax Department is entitled to recover dues for the period which precedes the date of approval of the Resolution Plan by the NCLT – Tata Steel Ltd. Vs. Deputy Commissioner of Income Tax – Delhi High Court

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Whether approval of Resolution Plan under IBC results in an extinguishment of a claim which was admitted for a notional amount of Re. 1 only because of arbitration was already invoked prior to admission of CIRP and Whether after approval of Resolution Plan, the claim can be said to be unenforceable in law and the dispute falls within the genre of non-arbitrability – Indian Oil Corporation Ltd. Vs. Arcelor Mittal Nippon Steel India Ltd. – Delhi High Court

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High Court directs RP of Go Air to provide access of records and documents to Lessors and permits Lessors to contract a 24 hour security service for all the Aircrafts at their own expense – ACG Aircraft Leasing Ireland Ltd. Vs. Union of India & Ors. – Delhi High Court

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