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IBC Weekly Digest: 4th November To 10th November 2024
Extinguishment Of Promoters' Personal Guarantees In Resolution Plan Is Valid If Plan Complies With IBC Provisions: NCLT Mumbai
Timely Implementation Of Resolution Plan Is Crucial To Achieve IBC's Objective Of Protecting Assets Dissipation: Supreme Court
Filing Petition U/S 94 Of IBC By Guarantor Through RP Does Not Preclude Financial Creditors From Seeking Replacement Of RP: NCLAT
Liquidator's Reliance On Transaction Audit Report Sufficient To File Application For Avoidance Of Preferential Transactions U/S 43 Of IBC: NCLAT
Petition U/S 7 Of IBC Is Maintainable For Default Which Occurred Post Consent Decree: NCLAT
When Repayment Plan Is Not Submitted, Creditors Are Entitled To File Application For Bankruptcy Against Debtor U/S 121 Of IBC: NCLAT
IBC Shall Prevail Over TRAI Act, Any Penalty Imposed By TRAI To Be Recovered As Per Scheme Of IBC: NCLAT
Approved Resolution Plan Can Be Amended To Ensure Statutory Compliance U/S 31 Of IBC: NCLT Kolkata
Settlement Plan U/S 12A Of IBC Cannot Be Considered By CoC After Approval Of Resolution Plan: NCLAT
Exploring The Priority Of Consideration For Insolvency Applications U/S 7 Of IBC Over Arbitration Applications U/S 8 Of Arbitration Act
CoC Entitled To Liquidate Corporate Debtor If No Approved Resolution Plan Is Placed Before Adjudicating Authority Within Statutory CIRP Period: NCLAT