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Insolvency
Hong Kong
Hogan Lovells
Just in time for the Chinese New Year, a Hong Kong court has taken a major step forward in the developing law on cross-border insolvency by recognizing a mainland Chinese liquidation for the first time.
Dentons
On 13 January 2020, the Hong Kong Court of First Instance made an order recognising Mainland insolvency proceedings in respect of CEFC Shanghai International Group Limited
India
Singh & Associates
The Hon'ble National Company Law Appellate Tribunal in Flat Buyers Association Winter Hills-77, Gurgaon vs Umang Realtech Private Limited through IRP & Ors [CA(AT)(Insolvency) No. 926 of 2019] introduced the concept of ...
Dhir & Dhir Associates
As per Section 9 of Insolvency and Bankruptcy Code, 2016 ('IBC'/ 'the Code'), an operational creditor can file an application for initiation of the Corporate Insolvency Resolution Process ('CIRP').
LexCounsel Law Offices
The medium to long term financial effects of Coronavirus are yet to unfold, but the magnitude is already anticipated to be huge.
Singh & Associates
I &B Code 2016 allows a creditor of a Company under Section 7 and 9 of IBC and the Company itself under Section 10 of IBC to file an application before the NCLT to initiate CIRP against the Corporate Debtor in case of default, ...
Singh & Associates
Insolvency and Bankruptcy Code, 2016 was enacted with the objective of maximization of value of assets, to promote entrepreneurship, availability of credit and balance of interests of all stakeholders.
Singh & Associates
In the Corporate Insolvency Resolution Process initiated under the I&B Code 2016, the claim is an important factor to be decided in the Resolution Plan for the Corporate Debtor.
Singh & Associates
The word "Dispute" is significant for the maintainability of every application filed under Section 9 of the IB Code.
Singh & Associates
In the Union Budget 2020-21, amendment has been proposed to be made in Section 140 and Section 288 of Income Tax Act, 1961 in order to give power to the Interim Resolution Professional/Resolution Professional ...
Singh & Associates
The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019 (Ordinance) had come into effect from 28th December 2019 after getting the assent from the Hon'ble President.
Singh & Associates
Further, the section also provides that if prosecution of a corporate debtor has been initiated during the resolution plan it will stand discharged.
Rajani Associates
The Insolvency and Bankruptcy Code ("IBC") had attracted interests of NPA-laden Indian Banks, entrepreneurs (Indian and International), and professionals like CAs CS and lawyers alike.
Obhan & Associates
The insolvency of Jaypee Infratech Limited (JIL)and the fate of its various stakeholders, including distressed home buyers, has occupied space on our screens for years on end now
King, Stubb & Kasiva
There are hundreds of cases that have been filed and closed under Insolvency and Bankruptcy Code, 2016 ("IBC") or are being battled out.
Rajani Associates
India has improved its ranking on the World Bank's "Ease of Doing Business" 2020 report. As per the report, India has moved up 14 positions to 63rd position as compared to 77th position in 2018
LexCounsel Law Offices
Proceedings under the Code are not for ascertaining or crystallizing the quantum of damages.
Trilegal
This update summarises some of these developments along with our expectations for the year 2020.
Vaish Associates Advocates
We are pleased to share with you a copy of our newsletter "Between the Lines", February 2020, a briefing on legal matters of current interest.
Singh & Associates
High Court can interfere under Article 226/227 of the Constitution against NCLT order, which lacks jurisdiction on a particular matter.
Singh & Associates
The IBBI had vide gazette notification dated 20.11.2019 issued the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Personal Guarantors to Corporate Debtors) Regulations, 2019 ...
Khaitan & Co
The Supreme Court has recently in its judgment dated 21 January 2020, in the case of Standard Chartered Bank v MSTC Limited [SLP (C) No 20093 of 2019], provided clarity on the interplay between the ...
HSA Advocates
The CIRP of an FSP shall be initiated on an application by the appropriate regulator.
HSA Advocates
The banking sector has been under tremendous stress in the past few years due to the increasing number of non-performing assets (NPA)...
Fair & Just Legal Solutions LLP
The Insolvency and Bankruptcy Code, 2016 ("IBC") deals with reorganisation and insolvency resolution of corporate persons
Fair & Just Legal Solutions LLP
In case any corporate debtor defaults in making payment to its creditor(s), a corporate insolvency resolution process ("CIRP") may be initiated against such corporate debtor.
Fair & Just Legal Solutions LLP
The Insolvency and Bankruptcy Code, 2016 is considered as an important legislation for early detection of financial sickness of any corporate debtor and to deal with such sickness in a time bound manner ...
Lex Favios
The Insolvency and Bankruptcy Board of India (IBBI), vide the Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Amendment) Regulations, 2020,...
The Law Office of Jyoti B Singh
The Full Bench of the Hon'ble Supreme Court of India comprising of Mr. Justice R.F. Nariman, Mr. Justice Aniruddha Bose, and Mr. Justice V. Ramasubramanian in M/s. Maharashtra Seamless Limited v. Padmanabhan Venkatesh & Ors. ...
The Law Office of Jyoti B Singh
The Single Bench of Hon'ble National Company Law Tribunal, Mumbai bench in the matter of State Bank of India v. Ushdev International Limited (CP No.1790/IBC/NCLT/MB/MAH/2017) decided on the following issues, ...
The Law Office of Jyoti B Singh
The Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Amendment) Regulations, 2020 was notified by the Insolvency and Bankruptcy Board of India vide notification dated January 15, 2020 ...
IndusLaw
On January 6, 2020, the IBBI notified the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2020 to further amend the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016.
VGC Law Firm
On 6th January, 2020, the Insolvency and Bankruptcy Board of India ("IBBI"/ "Board") notified the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2020.
AZB & Partners
On October 24, 2019, CCI approved the acquisition of 100% of the total issued and paid-up equity share capital of Kwality Limited (‘Kwality') (which is undergoing insolvency resolution...
Phoenix Legal
After a battle that lasted approximately 900 days, the Supreme Court of India in the case of Committee of Creditors of Essar Steel India Limited through Authorised Signatory v. Satish Kumar Gupta, paved the way for ArcelorMittal ...
AZB & Partners
In the past few months, the Central Government and the Insolvency and Bankruptcy Board of India (‘IBBI') have introduced several changes to the Insolvency and Bankruptcy Code
The Law Office of Jyoti B Singh
Before the enactment of Insolvency and Bankruptcy Code, 2016 (Act No. 31 of 2016), there was no single comprehensive law in India dealing with the insolvency and bankruptcy of companies, individual and partnership firms.
The Law Office of Jyoti B Singh
Applicability of provisions of Limitation Act, 1963 to the applications filed for initiation of corporate insolvency resolution process under Part II of the Insolvency & Bankruptcy Code, 2016 has been a controversial issue ...
DSK Legal
The NCLT held that a corporate debtor can access its GST Portal Account for filing GST Returns generated after the commencement of the corporate insolvency resolution process
Economic Laws Practice
Karvy Clients Challenge IBC Amendment On Individual Creditors.
India Law Alliance
The Supreme Court has upheld the constitutional validity of the Insolvency and Bankruptcy Code after hearing a batch of petitions filed by some 40 companies alleging discrimination against operational creditors under the Code.
Royzz & Co
Essar Group is an Indian conglomerate into manufacturing, services and retails sectors. The group has operational presence across 29 countries having 45,000 employees across the world.
Lex Favios
The Insolvency and Bankruptcy Board of India ("IBBI") vide notification dated February 6, 2018, amended the Insolvency and Bankruptcy Board of India
Lex Favios
The Amendment will remove certain ambiguities in the Insolvency and Bankruptcy Code, 2016 and ensure smooth implementation of the Code.
Kazakhstan
Kinstellar
The previous "inability to pay its debts" test has been amended.
New Zealand
Wynn Williams Lawyers
These measures may assist NZ businesses and individuals, in financial distress because of COVID-19, avoid liquidation.
Wynn Williams Lawyers
The spread of COVID-19 and government measures in response means an economic downturn and increasing business failures.
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