Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
IBC - Highlights / Catch Notes

Home Highlights November 2022 Year 2022 This

Initiation of CIRP - Financial creditors - The ‘Event of ...

Case Laws     Insolvency and Bankruptcy

November 17, 2022

Initiation of CIRP - Financial creditors - The ‘Event of Default’ declared by the Respondent IDBI Bank has not been declared in accordance with the Inter-se Agreement entered into between participating banks of the Bank of Baroda consortium and the Security Trustee Agreement, and therefore cannot be called a valid ‘Event of Default’. - AT

View Source

 


 

You may also like:

  1. Admission of section 7 application - financial debt or not - The Tribunal affirmed that the disbursal of ₹5 crores to the corporate debtor by the financial...

  2. Initiation of CIRP - NCLT admitted the application - The event of default had not occurred with Principal Loan, the event of default did occur for Additional Loan and...

  3. Initiation of CIRP - NCLT rejected the application - Financial Creditors - non-disbursement of part of financial assistance sanctioned by the Financial Creditors -...

  4. The NCLAT upheld the admission of the Section 7 application filed by the Financial Creditor (Respondent No.1) for initiating CIRP against the Corporate Debtor. It held...

  5. Refusal to stay the proceedings initiated by the Respondent, Axis Bank Limited against the Appellant - The title “Insolvency and Bankruptcy Code” makes it amply clear...

  6. CIRP process - Financial Creditors - In the present case, the Bank has not acted fairly - It was omission or commission of the Bank in not refunding the facility fee to...

  7. This legal summary concerns the maintainability of a Section 7 application for initiating the Corporate Insolvency Resolution Process (CIRP) against a Corporate Debtor....

  8. The National Company Law Appellate Tribunal, Principal Bench, New Delhi addressed issues regarding debt default, impact of One Time Settlement (OTS) Agreement, and...

  9. Admission of section 7 application - initiation of CIRP against the Corporate Debtor - existence of debt and default or not - When the Financial Creditor had repeatedly...

  10. Initiation of CIRP - The Appellant, who is a speculative investor, cannot claim status and benefits as financial creditor under Explanation (i) of Section 5(8)(f) of the...

  11. Threshold limit for triggering CIRP - Validity of Section 7 of the Insolvency and Bankruptcy Code, 2016 - Initiation of CIRP by Financial Creditors - The statute i.e.,...

  12. Initiation of CIRP - since the I&B Code is not a complete Code, provisions of Limitation Act are attracted to proceedings under it before NCLT and NCLAT as far as...

  13. Initiation of CIRP - Financial Creditors - There is no denial of transfer of the amount by Bank transfer in the account of the Corporate Debtor. When disbursement of the...

  14. CIRP proceedings - Financial Creditors - Related party - while the default rule under the first proviso to Section 21(2) is that only those financial creditors that are...

  15. Initiation of CIRP - Flat Buyer is a Financial Creditor or not - Whether ‘HBPL’ falls within the ambit of the definition of ‘Corporate Debtor’, as defined under Section...

 

Quick Updates:Latest Updates