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IBC MORATORIUM
NCLT admits SBI plea for personal insolvency proceedings against Anil AmbaniMumbai NCLT has admitted SBI's plea to start personal insolvency proceedings against Anil Ambani. This follows a Rs 1,200 crore claim by th...- NCLT admits insolvency plea against Supreme Housing & HospitalityThe National Company Law Tribunal has admitted Canara Bank's insolvency plea against Supreme Housing and Hospitality. The real estate firm ...
- Faster insolvency process proposed with creditor-led resolution frameworkA new Creditor-initiated Insolvency Resolution Process (CIIRP) aims to expedite debt resolution, allowing financial creditors with 51% debt...
- Misuse of Insolvency and Bankruptcy Code by loan defaulters has tendency to badly impact economy: HCThe Bombay High Court has strongly condemned loan defaulters and guarantors for exploiting the Insolvency and Bankruptcy Code. This practic...
- IBC moratorium does not shield individuals from penalties under consumer law: SCThe Supreme Court ruled that interim moratoriums under the Insolvency and Bankruptcy Code (IBC) do not protect individuals or companies fro...
- Regular IBC tweaks needed to address bankruptcy challenges, says Corporate Affairs MinistryThe corporate affairs ministry emphasizes continuous refinement of the Insolvency and Bankruptcy Code to address future challenges in corpo...
- Government mulls two-month asset freeze for bankrupt airlinesThe government is considering a two-month moratorium rule for the aviation sector to prevent lessors from immediately taking away aircraft ...
- High Court ruling plugs personal insolvency loopholeThe ruling clarifies that the interim moratorium begins when the application is duly numbered by the tribunal, the Kerala High Court said. ...
- Aviation Ministry, MCA take different flight paths on IBC moratoriumThe Ministry of Civil Aviation (MoCA) has requested that leased aircraft be exempted from the asset moratorium rule enforced by India's Ins...
- Bankruptcy court reserves its order in Go First’s voluntary insolvency applicationThe carrier argued that it is seeking a comprehensive debt restructuring and that it is not a malicious petition to avoid payments of dues ...
- Supreme Court to decide if PMLA overrides IBCTaking up an appeal filed in the matter of Ashok Kumar Sarawgi versus the ED, the apex court issued notices on November 11 to all parties a...
- SC holds in case of conflict Insolvency and Bankruptcy Code prevails over Customs ActA bench of Chief Justice NV Ramana and Justices JK Maheshwari and Hima Kohli set aside an order of the National Company Law Appellate Tribu...
- NCLT sets aside fresh demand raised against KSS Petron over duesThe liquidator of KSS Petron had approached the Mumbai bench of the National Company Law Tribunal (NCLT) against the regional provident fun...
- Sebi can't initiate proceedings against companies under IBC, says panelIn its report to the government, the committee opined that any exemptions on moratorium could hinder the IBC process. Under the law, the ce...
- IL&FS moves SC against show-cause notice by SebiThe case has been admitted by the apex court and a two-member bench comprising Justices Vineet Saran and Dinesh Maheshwari will be hearing ...
- Reimpose moratorium on taking cos to NCLT under IBC due to COVID: Assocham to govtIn a representation to the Finance Ministry, the chamber said that given the increasing pressure on businesses, it would be imperative to e...
- Cheque dishonor cases can't be filed or continued against firms facing insolvency proceedings: SCThe top court, however, did not extend the benefit of moratorium on judicial proceedings in cheque bounce cases to directors or signatories...
- IBC suspension to provide breathing space to struggling companies: ExpertsAmong other things, the Ordinance sought to prevent businesses that are experiencing distress on account of unprecedented situation followi...
- Insolvency law: Government to review sale ban on guarantors’ personal assetsThe law committee has identified issues that may impact the efficiency of corporate insolvency resolution and will submit its recommendatio...
- Landmark judgment: Guarantors’ assets cannot be liquidated under IBCNCLAT’s ruling has huge ramifications as it offers relief for personal assets of promoters. This also effectively overturns the earlier rul...
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