Decoding the Code Non-Series

All about “Allottee” and “Real Estate Project” for filing a Real Estate Insolvency Petition

Answer your queries on:
(i) Real Estate Project Meaning [Section 2(zn) of RERA, 2016]
(ii) Allottee Meaning [Section 2(d) of RERA, 2016]
(iii) Allottees to be from same Real Estate Project?
(iv) Holdings by Family Members etc. and Joint Holdings of a Unit: Single Allottee?
(v) What will be the total number of allottees and therefore what would constitute 1/10 of total number of allottees under proviso to Section 7(1) of IBC
(vi) Calculation of threshold under proviso to Section 7(1) of IBC
(vii) Meaning of allotment
(viii) Calculation of default threshold amount for Sec. 4 of IBC in Real Estate Project Insolvency Application/Joint Application
(ix) Single or multiple CIRP application(s) would have to be filled-up, if there are 100 and more allottees?
(x) If they have agreements, under which, the date of default is different, how is the application to be drafted and processed?
(xi) The Point of Time to comply with the threshold requirements: at the time of filing of an application u/s 7 of IBC? or till the date, it is admitted u/s 7(5)?

All about “Allottee” and “Real Estate Project” for filing a Real Estate Insolvency Petition Read Post »

Summary of Landmark judgment of Supreme Court in Dilip B. Jiwrajka Vs. Union of India & Ors., on various provisions of IBC on Personal Insolvency

Complete summary of the landmark judgments on various provisions of IBC on Personal Insolvency and constitutional validity of Sections 95 to 100 of the IBC.

Summary of Landmark judgment of Supreme Court in Dilip B. Jiwrajka Vs. Union of India & Ors., on various provisions of IBC on Personal Insolvency Read Post »

Rulings on clubbing concept in IBC to meet the minimum threshold amount of default to initiate CIRP

NCLT Benches, NCLAT, High Courts and Supreme Court rulings on clubbing concept in IBC is categorized in the following points:
1. Filing of jointly application to meet the minimum amount of the default
1.1 Filing of joint application by Operation Creditors to meet the minimum amount of the default
1.2 Filing of joint application by Financial Creditors to meet the minimum amount of the default
2. Clubbing of Interest in Principal amount to meet the minimum amount of the default
2.1 Clubbing of interest in case of Operational Debt
2.2 Clubbing of interest in case of Financial Debt
3. Clubbing of the two difference work orders/invoices/separate debt

Rulings on clubbing concept in IBC to meet the minimum threshold amount of default to initiate CIRP Read Post »

Rulings on Regulation 21A of IBC Liquidation Process, whether period of 180 days is mandatory or directory

Recently, NCLT Kochi Bench comprising of Shri P. Mohan Raj, Member (J) and Shri Satya Ranjan Prasad, Member(T) held that the period of 180 days prescribed under Regulation 21A(2)(b) of IBBI (Liquidation Process) 2016 to is mandatory and cannot be extended.

In this part of the Decoding the Code series, we analysis various cases laws on the time period prescribed under Regulation 21A(2)(b) of IBBI (Liquidation Process) 2016.

Rulings on Regulation 21A of IBC Liquidation Process, whether period of 180 days is mandatory or directory Read Post »

Summary of landmark judgment of Supreme Court in Committee of Creditors of Essar Steel India Limited vs Satish Kumar Gupta & Ors., in Insolvency and Bankruptcy Code, 2016

The summary of the landmark judgment has been revamped. In this landmark judgment, Committee of Creditors of Essar Steel India Ltd. Vs. Satish Kumar Gupta & Ors. reported at (2019) ibclaw.in 07 SC, Hon’ble Supreme Court has answered the important questions as to the role of Resolution Professionals, the Committee of Creditors(CoC) and Resolution Applicants, Judicial Review of the Commercial decision of the CoC, the jurisdiction of the NCLT/NCLAT, Equality Principle in Resolution Plan, fresh slate theory, Constitutional Validity of Section 4 and 6 of Insolvency & Bankruptcy Code (Amendment) Act, 2019 etc. 

Summary of landmark judgment of Supreme Court in Committee of Creditors of Essar Steel India Limited vs Satish Kumar Gupta & Ors., in Insolvency and Bankruptcy Code, 2016 Read Post »

Scroll to Top