Initiation of CIRP - While initiating CIRP, one of the criteria ...

Corporate Insolvency Resolution Process: Assess Solvency Alongside Debt and Default to Prevent Misuse of Bankruptcy Code.

April 23, 2021

Case Laws Insolvency and Bankruptcy Tri

Initiation of CIRP - While initiating CIRP, one of the criteria is solvency of CD apart from debt and default in question. It is settled position of law that the provisions of the Code cannot be invoked for recovery of outstanding amount, and it cannot be misused to drop curtain on healthy organisation. - Tri

View Source

← Previous Next →

Initiation of CIRP - While initiating CIRP, one of the criteria ...

Corporate Insolvency Resolution Process: Assess Solvency Alongside Debt and Default to Prevent Misuse of Bankruptcy Code.

April 23, 2021

Case Laws Insolvency and Bankruptcy Tri

You may also like:

The National Company Law Appellate Tribunal (NCLAT) dismissed the appeal, upholding the order admitting the Section 7 application filed by ICICI Bank against the...

Initiation of insolvency resolution of a personal guarantor of the Corporate debtors - The law doesn't envisage that the insolvency resolution of the personal guarantor...

Corporate Insolvency Resolution Process - The presence of an arbitration clause in the share purchase agreement would not cause any impediment with regard to initiation...

External Commercial Borrowings (ECB) Policy – ECB facility for Resolution Applicants under Corporate Insolvency Resolution Process

Corporate Debtors failed to deliver housing units to allottees within stipulated time despite receiving payments. NCLAT rejected Corporate Debtors' contentions regarding...

The IBBI has issued a notification amending the Insolvency Resolution Process for Corporate Persons Regulations, 2016, specifically modifying Schedule-I, Form H...

The Appellant (SIDBI) had established a clear case of continuous defaults by the Respondent (Sambandh Finserve Private Limited) in loan repayment post the suspension...

Admission of section 7 application - financial debt owed by the Corporate Debtor or not - Home Buyers - The application was filed by respondents, who were allottees in a...

CIRP Proceedings against the Personal Guarantors - the ‘Adjudicating Authority’ / ‘Tribunal’, has ‘jurisdiction’, to ‘entertain’/’initiate’, the ‘Insolvency Proceedings’...

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...

Corporate debtor defaulted in repaying financial debt owed to financial creditor. NCLAT dismissed appeal, upholding orders of adjudicating authority. Transaction...

Initiation of the process against two ‘Corporate Guarantors’ simultaneously for the same set of debt and default - for same set of debt, claim cannot be filed by same...

HC ruled that ex-parte tax assessment against a corporate debtor post-CIRP resolution plan approval is impermissible. The court held that once the NCLT approves a...

Initiation of Corporate Insolvency Resolution Process - financial creditor - If there were any doubt in the nature of transaction, same got cleared as even according to...

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

Quick Updates: