Category: Case Laws-SARFAESI-High Courts

Whether Bank having registered mortgage of a Secured Asset with CERSAI will have priority to make its claim over the claims/charge of Sales Tax Department arising out of the dues under the Maharashtra Value Added Tax Act, 2002 (MVAT) – Punjab National Bank Vs. Assistant Commissioner of State Tax (D-815) – Bombay High Court

Posted by IBC Laws Editoron March 31, 2023March 31, 2023in Case Laws-SARFAESI-High Courts, Newsletter-IBC Case

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Interim Moratorium under Section 96 of IBC cannot be extended to the proceedings with respect to a borrower, who has been declared as a Wilful Defaulter – Jagdish Prasad Saboo Vs. IDBI Bank Ltd. – Gujarat High Court

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If pre-deposit as per Section 21 of Recovery of Debts & Bankruptcy Act, 1993 is not made, an appeal technically cannot be entertained and thus cannot be dismissed either – M/s Sai Enterprises and 2 Others Vs. Debts Recovery Appellate and Another – Allahabad High Court

Posted by IBC Laws Editoron March 31, 2023March 31, 2023in Case Laws-SARFAESI-High Courts, Newsletter-IBC Case

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M/s Agrawal Coals and Logistics (Partnership) Vs. Debts Recovery Tribunal – Madhya Pradesh High Court

Posted by IBC Laws Editoron March 31, 2023March 31, 2023in Case Laws-SARFAESI-High Courts, Newsletter-IBC Case

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Vinjam Srinivasa Rao Vs. Union of India – Andhra Pradesh High Court

Posted by IBC Laws Editoron March 30, 2023March 31, 2023in Case Laws-SARFAESI-High Courts

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Swadha Builders Pvt. Ltd. & Ors. Vs. Nabarun Bhattacharjee & Ors. – Calcutta High Court

Posted by IBC Laws Editoron March 22, 2023March 26, 2023in Case Laws-SARFAESI-High Courts, Companies Act-High Courts

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When the projects proponent defaults in completing a project, it is always open for the banks to approach the NCLT under the Insolvency and Bankruptcy Code, 2016 – Court on its own motion Vs. Govt of NCT of Delhi and Ors. – Delhi High Court

Posted by IBC Laws EditorSVon March 22, 2023March 22, 2023in Case Laws-SARFAESI-High Courts, IBC-Case Laws-High Courts

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The right of redemption under Section 13(8) of SARFAESI is always available till the date of sale – S.Kasthuri Vs. The Authorised Officer, Canara Bank – Madras High Court

Posted by IBC Laws Editoron March 20, 2023March 19, 2023in Case Laws-SARFAESI-High Courts, Newsletter-IBC Case

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Though Section 25 of Recovery of Debts and Bankruptcy Act, 1993 does not indicates a hierarchy amongst the recovery modes available and Recovery Officer is free to choose the one suitable, if chooses to exercise the option “arrest and detention in prison of the borrower” will have to carefully assess all the facts on record to ensure that ingredients of Rule 73 of Second schedule of the Income Tax Act are established – Kishor K. Mehta Vs. Recovery Officer, Debts Recovery Tribunal, II, Mumbai – Bombay High Court

Posted by IBC Laws Editoron March 20, 2023March 20, 2023in Case Laws-SARFAESI-High Courts, Newsletter-IBC Case

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Bhaben Chandra Baishya Vs. Punjab National Bank and 4 Ors. – Gauhati High Court

Posted by IBC Laws Editoron March 13, 2023March 19, 2023in Case Laws-SARFAESI-High Courts

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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