CIRP - Right to claim set-off in the Corporate Insolvency ...

Supreme Court: Set-off Rights Need Formal Assertion During Corporate Insolvency, Not Automatic with RP Control.

January 5, 2024

Case Laws Insolvency and Bankruptcy SC

CIRP - Right to claim set-off in the Corporate Insolvency Resolution Process, when the RP proceeds to take custody and control of all the assets of the corporate debtor - The argument that insolvency set-off is automatic and self-executing rejected - SC

View Source

← Previous Next →

CIRP - Right to claim set-off in the Corporate Insolvency ...

Supreme Court: Set-off Rights Need Formal Assertion During Corporate Insolvency, Not Automatic with RP Control.

January 5, 2024

Case Laws Insolvency and Bankruptcy SC

You may also like:

The Noida authority had terminated the lease deed of the subject land prior to the commencement of the Corporate Insolvency Resolution Process (CIRP) of the Corporate...

CIRP - Removal of the Leasehold Land from the pull of Assets of the Corporate Debtor - right to terminate the Lease Deed - the Appellant has never initiated any...

Appeal against order filed by Resolution Professional (RP) was disposed of. Resolution Plan submitted by Appellant was approved by Committee of Creditors (CoC) on...

The Appellate Tribunal ruled that the Resolution Professional (RP) was entitled to possess the land admeasuring 10.81 acres, where the corporate debtor had constructed...

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...

Scope and ambit of Section 29A (c) of IBC - Disqualification to submit the Resolution Plan u/s 29A - The Tribunal observed that, Section 29A, sub-section (c) does, not...

Classification of goods - 150 HP Fully Automatic ATS (Auto-Transformer Starter) Control Panel, Motor Starter Panel Board and other Control Panel - the commodities, i.e.,...

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

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 (CIRP) initiated against corporate debtor and corporate guarantor. Financial creditor granted loan to corporate debtor, secured...

The Appellate Tribunal upheld the replacement of the Resolution Professional (RP) appointed u/s 97 of the Insolvency and Bankruptcy Code (IBC). The RP had previously...

Suspension of some right against the Corporate Debtor under Section 14 shall not be construed as a right to the Corporate Debtor to take out the assets lying with others...

Resolution Professional's decision to remove appellant from Committee of Creditors upheld by NCLAT. The appellant, Hari Vitthal Mission, was determined to be a related...

Disciplinary action against a Resolution Professional (RP) for contravention of provisions of the Insolvency and Bankruptcy Code (IBC) and lack of due diligence. RP...

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

Quick Updates: