SC excludes one year to 14 March ’21 for computing limitation period
The Supreme Court has ordered exclusion of period from 15 March 2020 to 14 March 2021 for computing limitation period...
Court Order
NCLT can either admit or reject an insolvency petition; it has no third option, says NCLAT
Under the insolvency and Bankruptcy Code (IBC), the adjudicating authority has only two options, either to admit an insolvency application...
HC dismisses Kolkata Municipal Corporation plea challenging IRP’s control over attached property
Can a property having been seized by a government agency in recovery of its statutory claims against the corporate debtor...
Insolvency application cannot be rejected merely because of technical defects, says NCLAT
Dismissal of application as being non-maintainable for technical defects such as omission in appending of signatures on the application in...
‘Incomplete’ financial statements no reason for rejection of insolvency application: NCLAT
The insolvency law does not empower the National Company Law Tribunal (NCLT) to reject an insolvency petition on the ground...
Registrar cannot determine NCLT jurisdiction: Delhi High Court
The question as to whether the National Company Law Tribunal (NCLT) has jurisdiction to entertain a particular case or not...
CoC can reject any number of resolution plans, if it does not find them viable
No matter how many resolution plans have been submitted in a corporate insolvency resolution process (CIRP), if the Committee of...
Sintex Plastics settles vendor’s dues; may escape insolvency proceedings
Sintex Plastics Technology, the Kalol, Gujarat-based listed company, has reached a settlement with operational creditor Zielen Industries Private Ltd and...
A financial creditor is liable to pay CIRP cost only for the period it was part of CoC
If a financial creditor is part of the committee of Creditors (CoC) then it has to pay the CIRP cost,...
Winding up proceeding transferable to NCLT until it has reached the stage of irreversibility, says Supreme Court
The Supreme Court of India has recently said in a judgement that a winding up proceeding pending before the High...