Dearth of Members, NCLT Benches At Chennai Not Fully Functional: Madras High Court Asks Centre To Clarify

In a public interest litigation filed before Madras High Court for directions to make the NCLT Benches in Chennai fully functional, the respondents including Union of India, NCLT and the Insolvency and Bankruptcy Board of India has been asked to clarify if a single technical member of the Bench at Chennai has been discharging the duties of the NCLT Bench in Kochi...

IBC: NCLT Cannot Adjudicate Contractual Dispute If Termination Of Contract Is Based On Grounds Unrelated To Corporate Debtor's Insolvency: Supreme Court

The Supreme Court observed that the residuary jurisdiction of the NCLT cannot be invoked to adjudicate contractual dispute if the termination of a contract is based on grounds unrelated to the insolvency of the Corporate Debtor. Even if the contractual dispute arises in relation to the insolvency, a party can be restrained from terminating the contract only if it is central to the success of...

Challenge To Minimum Age Criteria For NCLT Appointments: Gujarat High Court Issues Notice

The Gujarat High Court on Tuesday issued a notice in a plea challenging the vires of Section 413(2) of Companies Act, 2013 that imposes a minimum age limitation of 'not less than 50 years for appointment as judicial members in National Company Law Tribunals.The Bench of Chief Justice Aravind Kumar and Justice Hemant M. Prachchhak issued the notice in the PIL filed by Advocate Nipun...

Delhi High Court Upholds Appointment Of Shreesha Merla As Technical Member Of NCLAT

The Delhi High Court today upheld the appointment of Shreesha Merla as a Member (Technical) of the National Company Law Appellate Tribunal.The Division Bench of Chief Justice DN Patel and Justice Jyoti Singh observed,"Looking to the qualification of Respondent no. 2 (Merla), she is fully qualified to be appointed as a Technical Member of the NCLAT...She has also served as member of the...

Insolvency And Bankruptcy Law Research Chair Vacancy At Indian Institute of Corporate Affairs [Apply By 19th November 2021]

Insolvency And Bankruptcy Law Research Chair Vacancy At Indian Institute of Corporate Affairs [Apply By 19th November 2021]Indian Institute of Corporate Affairs (IICA), Manesar invites applications for filling up of the position of Chair Professor for "IBBI Research Chair" purely on a contract basis initially for a period of 3 years (extendable up to 05 years) at a consolidated (all-inclusive) remuneration/fee of Rs.2.67 lakh/month. Name of the Post: Chair Professor [IBBI – Insolvency and...

Call For Submissions: Centre For Insolvency And Bankruptcy Studies Blog, NLU Jodhpur: Rolling Submissions

About The BlogThe Centre for Insolvency and Bankruptcy Studies Blog, established under the aegis of National Law University, Jodhpur, welcomes all kinds of submissions in the form of articles, research pieces, opinions, case comments and short notes dealing with any contemporary and pertinent development related to insolvency and bankruptcy laws. Submissions are invited on a rolling basis for the blog. There are no charges to get the selected submissions published on CIBS Blog.OriginalityAll...

Insolvency Law in Review – September 2021

The enactment of the Insolvency and Bankruptcy Code 2016 (Code) has had significant ramifications on the corporate insolvency landscape. Over time, the Code has witnessed a manifold increase in litigation, and consequently in the number of decisions. This has made it difficult for insolvency practitioners to stay updated with developments in the field. This column fills this gap by providing brief summaries of latest decisions from the various fora dealing with Insolvency Law. These...

Plea In Gujarat High Court Challenges Minimum Age Criteria For NCLT Appointments In Companies Act 2013

When a person below 50 years is eligible to be appointed as a High Court Judge, it is strange to keep a minimum age limit for tribunals, the petitioner states relying on Madras Bar Association Judgment.

Companies Act 2013 - Proposed Shareholder Resolution Must Be Legal For EGM To Be Called : Bombay High Court

"...sometimes, it happens that a company must be saved from its own shareholders, however well-intentioned. Shareholder primacy or dominion does not extend to permitting shareholder-driven illegality" - HC said.

Centre Appoints Former CJ Of Manipur HC Justice Ramalingam Sudhakar As President Of NCLT

The Central Government has approved the appointment of former Chief Justice of Manipur High Court, Justice Ramalingam Sudhakar as the president of the National Company Law Tribunal (NCLT) for a period of five years.Justice Sudhakar has been appointed for a period of five years from the date of assumption of the charge of the post or till you attain the age of 67 years or until further...

Centre Appoints Former Supreme Court Judge Justice Ashok Bhushan As Chairperson Of NCLAT

The Central Government has appointed Justice (Retd.) Ashok Bhushan, former Judge of the Supreme Court of India as Chairperson, National Company Law Appellate Tribunal (NCLAT) for a period of 04 years.Justice Ashok Bhushan had retired as the Judge of the Supreme Court in July this year.The Appointments Committee of the Cabinet has approved the proposal for appointment of Justice (Retd.)...

Can Consultant Doctor Be Discriminated Against Employee Doctor In Insolvency Process Of Hospital? SC To Examine

The Supreme Court has issued notice on a petition which raises the issue of whether a consultant doctor can be discriminated against an employee doctor at the time of the Corporate Insolvency Resolution Process of a hospital.The case arises out of the insolvency resolution proceedings of PVS Memorial Hospital Pvt Ltd situated at Kochi. The civil appeal was filed against an order of the...