Mondaq All Regions - India: Insolvency/Bankruptcy/Re-structuring
Dhaval Vussonji & Associates
This highlights the importance of having crystallized terms in respect of any lending in the absence of which a creditor may possibly not have recourse under the Code.
Dhaval Vussonji & Associates
While these companies formed a joint venture for developing the project, they did not register this joint venture as a separate company.
IndiaLaw LLP
Insolvency & Bankruptcy Code (Amendment) Ordinance, 2018 settled uncertainty regarding the applicability of Limitation Act 1963 over proceeding under the Insolvency and Bankruptcy Code 2016.
IndiaLaw LLP
The Supreme Court of India delivered two judgments under the Insolvency and Bankruptcy Code 2016 ("Code") recently.
IndiaLaw LLP
In a landmark judgment, National Company Law Appellate Tribunal settled law under Insolvency and Bankruptcy Code 2016 in respect of claims arising out of counter corporate guarantee and non-invoked guarantee.
IndiaLaw LLP
The Supreme Court of India in BK Education Services Private Limited vs. Parag Gupta and Associates held that Section 238 A of the Insolvency and Bankruptcy Code, which was inserted pursuant to an amendment dated 6th August 2018, ...
Singh & Associates
The Insolvency & Bankruptcy Code was enacted in the year 2016. Since then there have been divergent views regarding the application of the Limitation Act, 1963, to the proceedings under the Insolvency & Bankruptcy Code, 2016.
Khaitan & Co
Leasing of aircrafts is a prevalent market practice in the aviation industry, and all existing airline operators in India have currently leased a significant number of aircrafts in their fleet.
Singh & Associates
Mr. V Ramakrishna, the managing director of the company signed a personal guarantee in favor of State Bank of India.
Vaish Associates Advocates
We are pleased to share with you a copy of our newsletter "Between the Lines", November 2018, a briefing on legal matters of current interest.
Earlier this month, the Supreme Court of India dismissed an appeal by a competing resolution applicant, asserting that the acceptance of UltraTech Cement Limited's recent resolution plan to acquire the...
Singh & Associates
The deduction of tax at source is a statutory obligation and the Income Tax Act does not make a classification as to the payment of interest.
Singh & Associates
Thus, certain winding up proceedings will now be governed by the provisions of 2013 Act and certain under the Code.
Singh & Associates
After the submission of the valuers reports, the average of the two closest estimates shall be considered the liquidation value.
Singh & Associates
The Law of Limitation has been on the talks in context to whether it shall be applicable to the Insolvency and Bankruptcy Code, 2016 ("IBC, 2016") since its very beginning.
Singh & Associates
The Hon'ble Adjudicating Authority (National Company Law Tribunal, Principal Bench, New Delhi) in the case of Axis Bank Limited and Another v. Edu Smart Services Private Limited (decided on 27.10.2017) ...
Singh & Associates
On 23th November 2017, the President of India has promulgated the Insolvency and Bankruptcy (Amendment) Ordinance, 2017 ("the Ordinance").
Singh & Associates
The Insolvency and Bankruptcy Code envisages that upon the Corporate Insolvency Resolution Process being triggered a moratorium is applicable on all proceedings against the Corporate Debtor ...
Singh & Associates
The Honorable Supreme Court of India on September 19, 2017 affirmed the order passed by the National Company Law Appellate Tribunal "NCLAT" in the case of Surendra Trading Company v. Juggilal Kamlapat Jute Mills ...
Singh & Associates
A question arises as to who can file application under the Code on behalf of the Companies or Corporate Persons as they are juristic entities.
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L&L Partners
About 30 million tonnes of steel is lying under bankruptcy proceedings in India, and is waiting to be taken over by new management under the Insolvency and Bankruptcy Code, 2016 (IBC).
Dhaval Vussonji & Associates
The Insolvency and Bankruptcy Code, 2016 (IBC) has consolidated and amended the laws relating to reorganization and insolvency of corporate persons, partnership firms and individual firms.
S.S. Rana & Co. Advocates
The stricter provision of the IBC and their effective enforcement have made it an active vehicle in order to resolve the problem of bad loans.
The amount of any liability in respect of any of the guarantee or indemnity for any of the items referred to in sub-clauses (a) to (h) of this clause.
Clarus Law Associates
On 11.10.2018, a division bench of the Hon'ble Supreme Court of India comprising of Justice R.F. Nariman and Justice Navin Sinha in the matter of B.K. Educational Services Private Limited v Parag Gupta And Associates, ...
Earlier this month, the Supreme Court of India (the "SC") passed a much-awaited judgment concerning the eligibility of resolution applicants for Essar Steel India Limited.
Fair & Just Legal Solutions LLP
The NCLT, Mumbai, accepted the application of Nisus and passed the order for commencement of insolvency resolution process.
Khaitan & Co
On 11 October 2018, the Supreme Court vide its judgment in B.K. Educational Services Private Limited v Parag Gupta and Associates (Civil Appeal No. 23988 of 2017) clarified the applicability of Limitation Act, 1963 ...
Dhir & Dhir Associates
The moratorium in terms of Insolvency and Bankruptcy Code, 2016 (‘IBC') means a period wherein no judicial proceedings for recovery, enforcement of security interest, sale or transfer of assets, or termination of essential contracts can be instituted or continued against the Corporate Debtor.
Singh & Associates
Insolvency and Bankruptcy Code, 2016 is enacted to consolidate and amend laws pertaining to insolvency and resolution. Part Ii of the Code deals with the Insolvency Resolution and Liquidation for ‘Corporate persons'.
King, Stubb & Kasiva
In case of cash flow insolvency the company is unable to pay debt as it falls due and in balance sheet insolvency the total liability exceeds its realisable assets.
VGC Law Firm
In order to prevent unscrupulous promoters from buying back the corporate debtor at low discounted prices, Section 29A was incorporated in the Insolvency and Bankruptcy Code with retrospective effect ...
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