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 September 2022 Year 2022 This

Maintainability of present suit - liquidator is appointed and ...

Insolvency and Bankruptcy

September 15, 2022

Maintainability of present suit - liquidator is appointed and liquidation proceedings commenced - If Sections 63 and 231 of the IBC are interpreted in the manner canvased by the counsel for the Liquidator, the provision of Section 33(5) of the IBC would be rendered otiose and the moratorium under Section 33(5) of the IBC, which was to apply only in respect of fresh suits would also apply to pending suits. This cannot be the intention of the legislature. - HC

View Source

 


 

You may also like:

  1. Abatement of appeal - Initiation of CIRP under IBC - when the company is in the process of liquidation under IBC Code, 2016 and a liquidator is appointed, where no...

  2. Filing of forms in the Registry (MCA-21) by the Insolvency Professional (Interim Resolution Professional (IRP) or Resolution Professional (RP) or Liquidator) appointed...

  3. Filing of forms in the Registry (MCA-21) by the Insolvency Professional (Interim Resolution Professional (IRP) or Resolution Professional (RP) or Liquidator) appointed...

  4. Maintainability of demand after the Company wound up – liquidator appointed – company wound up – appeals abated - all matter to be closed. - AT

  5. Liquidation of Corporate Debtor - once CIRP is initiated under IBC, the management vests in IRP/RP and if Liquidation Order gets passed the Powers and Duties of the...

  6. CIRP - Grounds on which the Liquidator can be changed - the non-holding of a valid AFA will not render the order of liquidation passed by the Adjudicating Authority...

  7. Distribution of liquidation proceedings - waterfall mechanism - After CIRP since it failed, liquidation order was passed by the Adjudicating Authority on an application...

  8. Liquidation of Corporate Debtor - timeline prescribed in the liquidation proceedings or not - Since the objective of the IBC is to prefer resolution over liquidation and...

  9. Authorization of Applicant/ Liquidator to defend all of any of the suit, prosecution or other legal proceedings, civil or criminal in the nature of and on behalf of the...

  10. Liquidation of company - alleged malafide conduct of the ex-directors of Futura - Proceedings under IBC - The conduct attributed to the ex-directors, prima facie borne...

 

Quick Updates:Latest Updates