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IBC - Highlights / Catch Notes

Home Highlights September 2019 Year 2019 This

Application for withdrawal of CIRP - Application by the promoter ...

Insolvency and Bankruptcy

September 5, 2019

Application for withdrawal of CIRP - Application by the promoter / corporate debtor approved by the committee of creditors - even if the asset of the ‘Corporate Debtor’ is held to be proceeds of crime, the Adjudicating Authority cannot reject the prayer for withdrawal of application under Section 7, if the ‘Promoter’ / ‘Director’ or ‘Shareholder’ in their individual capacity satisfy the creditors. - AT

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  1. Corporate Insolvency Resolution Process - existence of eligible debt - Operational Creditor had provided security services to the Corporate Debtor and maintained a...

  2. Liquidation of the Corporate Debtor - CIRP period has expired and no resolution plan was approved by the Committee of Creditors - The Corporate Debtor is ordered to be...

  3. Seeking withdrawal of main Insolvency and Bankruptcy Application - In the instant case on hand, the Committee of Creditors had voted under Section 12A of the Code...

  4. Initiation of Corporate Insolvency Resolution Process - financial creditor - home buyers - failure to pay assured return /monthly rent - The applicants fall within the...

  5. Conduct of IRP - Validity of order whereby application for initiation of CIRP was accepted - Settlement between the Corporate Debtor and the Operational Creditor - IRP...

  6. Withdrawal of Resolution Plan - resolution plan was approved by Committee of Creditors - the existing insolvency framework in India provides no scope for effecting...

  7. Seeks to make amendments to special procedure for corporate debtors undergoing the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016....

  8. CIRP - dues of EPF - The law as it exists today does not oblige the IRP/RP to send any information to any creditor or statutory authority even if the records of the...

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

  10. Withdrawal/modification of approved Resolution Plan - Section 31(1) of IBC - The Supreme Court addressed cross-appeals concerning the approval of a resolution plan under...

 

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