Category: IBC-Case Laws-NCLT

Merely because Debenture Trustee has also filed a petition under section 7 of the Code, it does not mean that the individual Debenture Holders do not have the right to approach the Adjudicating Authority under Section 7 of IBC – Sri Girija Prasanna Cotton Mills Ltd. & Ors. Vs. DDK Infratech Pvt. Ltd. – NCLT Mumbai Bench

Posted by IBC Laws Editoron September 27, 2023September 26, 2023in IBC-Case Laws-NCLT, Newsletter-IBC Case

In case you've already logged in, click here to know why you're not able to access this content.

By virtue of Section 238, IBC clearly has overriding powers over KVAT Act and its proceedings – Deputy Commissioner, Works Contract, Kerala GST Department Vs. Vinod Balachandran FCA, Liquidator – NCLT Kochi Bench

Posted by IBC Laws Editoron September 27, 2023September 26, 2023in IBC-Case Laws-NCLT, Newsletter-IBC Case

In case you've already logged in, click here to know why you're not able to access this content.

Adjudicating Authority is not expected to ascertain the veracity of documents produced – Drive India Enterprise Solutions Ltd. Vs. BTM Exports Ltd. – NCLT New Delhi Bench Court-VI

Posted by IBC Laws Editoron September 27, 2023September 26, 2023in IBC-Case Laws-NCLT, Newsletter-IBC Case

In case you've already logged in, click here to know why you're not able to access this content.

Neither Promoters/Ex-Directors nor the Resolution Professional/CoC are empowered under the IBC 2016 to obtain an MSME Certificate post-commencement of CIRP with the sole purpose of opening or enabling a back door entry to the defaulting promoters, who are otherwise barred under Section 29A of IBC, 2016 to submit Resolution Plan – Deutsche Bank A.G Vs. Mr. Devendra Umrao RP of Overnite Express Ltd. – NCLT New Delhi Bench Court-II

Posted by IBC Laws Editoron September 26, 2023September 25, 2023in IBC-Case Laws-NCLT, Newsletter-IBC Case

In case you've already logged in, click here to know why you're not able to access this content.

The claim had already been admitted in CIRP and that fresh claim was filed within the time announced by the Liquidator, rejection of the same merely on a procedure/format prescribed in the Liquidation Regulations may not help to achieve the ends of justice – Slipco Construction Pvt. Ltd. Vs. Shri Abhijit Guhathakurta Liquidator of EPC Constructions India Ltd. – NCLT Mumbai Bench

Posted by IBC Laws Editoron September 26, 2023September 26, 2023in IBC-Case Laws-NCLT, Newsletter-IBC Case

In case you've already logged in, click here to know why you're not able to access this content.

NCLT dismisses an IA filed by RP on SAP accounting software discontinued during moratorium – Pritam Bayal, RP of BKM Industries Ltd. Vs. NIT Global Data Centers & Cloud Infrastructure India Pvt. Ltd. – NCLT Kolkata Bench

Posted by IBC Laws Editoron September 26, 2023September 25, 2023in IBC-Case Laws-NCLT, Newsletter-IBC Case

In case you've already logged in, click here to know why you're not able to access this content.

During the CIRP, assignment of Trade Mark on behalf of the Corporate Debtor is clear violation of the moratorium under Section 14 of the IBC – Amit C. Poddar The RP of Prince SWR Systems Pvt. Ltd. Vs. Prince SWR Systems Pvt. Ltd. – NCLT Mumbai Bench

Posted by IBC Laws Editoron September 26, 2023September 25, 2023in IBC-Case Laws-NCLT, Newsletter-IBC Case

In case you've already logged in, click here to know why you're not able to access this content.

D.D. International Pvt. Ltd. & Anr. Vs. Rajesh Kumar Agarwal, Liquidator of Divine Alloys & Power Company Ltd. & Ors. – NCLT Kolkata Bench

Posted by IBC Laws Editoron September 21, 2023September 25, 2023in IBC-Case Laws-NCLT

In case you've already logged in, click here to know why you're not able to access this content.

NCLT directs Resolution Professional to register Corporate Debtor as an MSME and to obtain the necessary Certificates – Dharamveer Singh Vs. Daulat Ram Jain, RP of Hardrock Attachments Pvt. Ltd. – NCLT Kolkata Bench

Posted by IBC Laws Editoron September 21, 2023September 15, 2023in IBC-Case Laws-NCLT, Newsletter-IBC Case

In case you've already logged in, click here to know why you're not able to access this content.

When Resolution Plan is approved by CoC and the same is pending for approval before Adjudicating Authority, no intervention is allowed against the decision taken by the RP in admission of claim amount – Assistant Commissioner CGST and Central Excise Division Vs. Pradeep Kumar Kabra RP of Cengres Tiles Ltd. – NCLT Ahmedabad Bench

Posted by IBC Laws Editoron September 20, 2023September 15, 2023in IBC-Case Laws-NCLT, Newsletter-IBC Case

In case you've already logged in, click here to know why you're not able to access this content.

Chapter	Topic	Content
CH-2: General & Definitions
		Short Note on Insolvency and Bankruptcy Code, 2016 (IBC, 2016)
		Dispute and Existence of a Dispute
		Operational Debt and Operational Creditor
		Persons who may initiate Corporate Insolvency Resolution Process(CIRP)
		Analysis provisions of Limitation Act, 1963 with respect to Insolvency and Bankruptcy Code, 2016
CH-3: CIRP
	Topic-1 : CIRP Application & Withdrawal
		Analysis of Minimum amount of default under Section 4 of IBC
		Procedure of filing application by Financial Creditor before NCLT under Section 7 of the IBC
		Procedure of filing application by Operational Creditor before NCLT under Section 8 & 9 of the IBC
		Initiation of CIRP by corporate applicant under Section 10 of the IBC
		Analysis of withdrawal of CIRP proceeding pursuant to settlement under Section 12A of Insolvency and Bankruptcy Code, 2016 (IBC)
	Topic-2 : Declaration of moratorium and public announcement
		Declaration of moratorium and public announcement [Section 13, 14 & 15 of the IBC]
		All about the Moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016 including judicial pronouncements
	Topic-3 : Appointment and tenure of IRP & RP
		Appointment and tenure of Interim Resolution Professional and Resolution Professional [Section 16, 22 & 27 of the IBC]
		Role of an Interim Resolution Professional and Resolution Professional
	Topic-4 : Management of affairs by IRP
	Topic-5 : Receive and collate all the claims submitted by creditors
	Topic-6 : Committee of creditors and meetings
		Constitution of Committee of Creditors under Section 21 of IBC
		Role of Committee of Creditors & It’s Commercial Wisdom
		Analysis of provisions on Authorised Representative under IBC
		Meetings & Voting of the Committee of Creditors under Section 24 of the IBC
	Topic-7 : RP to conduct the CIRP and manage the operations
		Resolution Professional to conduct the CIRP and manage the operations of the Corporate Debtor
		Insolvency Resolution Process Costs & Essential supplies
		To identify preferential transactions under Sec. 43 of the Code in any CIRP, step to be taken by a Resolution Professional
	Topic-8 : CIRP and Resolution Plan
		Information Memorandum, Expression of Interest, Request for Resolution Plans & Resolution Plans
		Role of the prospective resolution applicant
		Persons not eligible to be Resolution Applicant [Sec. 29A of IBC]
		Submission and approval of the Resolution Plan
		Liability for prior offences under Section 32A of the IBC
CH-4 : Liquidation Process
	Topic-1 : Initiation of Liquidation
	Topic-2 : Appointment & Remuneration of Liquidator
		Appointment & Remuneration of Liquidator under Sec. 34 of IBC
		Powers and duties of Liquidator under Sec. 35, 37 of IBC
	Topic-3: Liquidation Estate
	Topic-4: Public announcement, Preliminary report, Early dissolution and Progress reports under Liquidation
	Topic-5: Claims under Liquidation
	Topic-6: Preferential, undervalued and Extortionate Credit Transactions
		Preferential, Undervalued and Extortionate Credit Transactions under Sec. 43, 44, 45, 46, 47, 48, 49, 50, 51 of IBC
		To identify preferential transactions under Sec. 43 of the Code in any CIRP, step to be taken by a Resolution Professional
	Topic-7: Secured Creditor in Liquidation Proceedings
	Topic-8: Realisation of Assets in Liquidation Proceedings
	Topic-9: Proceeds of Liquidation and Distribution of Proceeds
CH-5 : Personal Guarantor
		Chapter VIII Indemnity and Guarantee of Indian Contract Act, 1872
		All about Personal Guarantor under IBC Part-I
		All about Personal Guarantor under IBC Part-II
		Insolvency Resolution Process Regulation
		Bankruptcy Process for PG Regulation
		IRP Application to AA Rules
		Bankruptcy Process Application to AA Rules