Centre Appoints New Members At NCLT Benches [Read Notification]

The Ministry of Corporate Affairs has notified the appointment of judicial members and technical members to several benches of National Company Law Tribunal across the country.The newly appointed members have to report to the President, NCLT, New Delhi for joining their posts on or before July 7.Click here to download notificationRead...

Hope Centre Sets Up NCLAT Bench In Chennai : Justice Mukhopadhaya

The need for setting up regional benches of the National Company Law Appellate Tribunal was stressed by Justice S J Mukhopadaya, former SC judge and present NCLAT Chairman, while speaking at a seminar on the Insolvency and Bankruptcy Code at Chennai on Saturday.In the seminar, which was organized as a capacity building exercise for lawyers by the Bar Council of Tamil Nadu &...

IBC vs SEBI Act: SC To Hear In July If IBC Will Override SEBI Act

"Will the Insolvency and Bankruptcy Code (IBC) override Securities and Exchange Board of India (SEBI) Act? Whether depositors of a Collective Investment Scheme (CIS) can be treated as Financial Creditors under IBC and whether provisions of IBC can be invoked in case of CIS which is regulated by the SEBI Act, 1992?" The Supreme Court will be considering these issues in July in an appeal...

Bhushan Power Insolvency - NCLAT Wonders How P&H HC Passed Directions; Asks NCLT To Follow Orders Of Only SC & NCLAT

The National Company Law Appellate Tribunal has expressed surprise at the intervention made by the Punjab and Haryana High Court in the corporate insolvency resolution process of Bhushan Power and Steel, which is going on in National Company Law Tribunal, New Delhi bench.The NCLAT has directed the NCLT to consider the matter "uninfluenced by any order except the decision of this...

Seminar On Insolvency & Bankruptcy — Emerging Trends, Bar Council Of Tamil Nadu & Puducherry, Chennai

Bar Council Of Tamil Nadu & Puducherry, Chennai Cordially is organizing a Seminar on Insolvency & Bankruptcy — Emerging Trends to be held on 15th June 2019 at Bar Council auditorium, which will be Inaugurated by Hon'ble Mr. Justice S.J. Mukhopadhaya, Chairperson, National Company Law Appellate Tribunal. The event will be graced in the presence of Hon'ble Mr. Justice S....

Info About Insolvency Professionals Facing Disciplinary Proceedings Exempt From RTI Act, Says IBBI

Even as the Insolvency and Bankruptcy Code promised to accelerate insolvency cases and raised the demand for insolvency professionals, the Insolvency and Bankruptcy Board of India (IBBI) claims information about insolvency professionals facing disciplinary proceedings is exempt from disclosure under the RTI Act. The IBBI claimed exemption under section 8(1)(h) of the RTI Act which...

Cyril Amarchand Mangaldas Appoints Richa Roy As Partner In Its IBC And Policy Practice

Ms. Richa Roy has joined one of the India's leading law firms Cyril Amarchand Mangaldas (CAM) as a Partner in the IBC and Policy Practice. She comes with an experience of over 12 years in Banking and Finance, Debt Restructuring and Bankruptcy, Public Policy, Microfinance and Social Enterprises, Private Equity, Funds. She has served on and contributed to multiple financial sector reform committees of the Ministry of Finance, Ministry of Corporate Affairs and RBI. Under the aegis of...

Notable Judgments On Insolvency And Bankruptcy Code, 2016 Part- 2

WHETHER A WINDING UP PETITION CAN BE FILED BY THE SECURED CREDITOR AGAINST A BORROWER EVEN AFTER OBTAINING DECREE FROM THE DEBTS RECOVERY TRIBUNAL? [Swaraj Infrastructure Pvt. Ltd. v. Kotak Mahindra Bank Ltd. (Civil Appeal No. 1291 of 2019 Decided on 29.01.2019)] The Hon'ble Supreme Court maintained the exclusivity of Recovery of Debt and Bankruptcy Act (RDB Act) for...

Breaking: Registered Trade Union Can File Insolvency Petition As Operational Creditor On Behalf Of Its Members: SC [Read Judgment]

"Looked at from any angle, there is no doubt that a registered trade union which is formed for the purpose of regulating the relations between workmen and their employer can maintain a petition as an operational creditor on behalf of its members."

40 Important Judgments On Insolvency And Bankruptcy Code, 2016 [Part-1]

To borrow the golden words of Justice Rohinton F. Nariman in Swiss Ribbons Pvt. Ltd. & Anr. vs. Union Of India WP(Civil) No. 99 of 2018 whereby upholding the Constitutional validity of the Insolvency and Bankruptcy Code, 2016 ("IBC") it was held as under: "85. The Insolvency Code is legislation which deals with economic matters and, in the larger sense, deals with the economy of the country as a whole. Earlier experiments, as we have seen, in terms of legislations having failed,...

SC's RBI Circular judgment: A Treatise On Interpretation Of Statutes

The recent Supreme Court judgment on the RBI circular dated 12th February 2018 is a treatise on the subject of interpretation of statutes. The judgment, sound on its reasoning, struck down the circular issued by RBI through which it had asked the lenders to institute a board-approved policy for the resolution of stressed assets. The circular which was struck down gave defaulting companies with debts over INR 2,000 crores and above a period of 180 days to agree on a resolution plan with lenders...

Umang Foundation's Summer School On Insolvency And Bankruptcy Code [June 29- July 4; JNU]

Umang Foundation, in association with NILS India, is organizing the first edition of the Umang Foundation Summer School, New Delhi 2019. Venue: Jawaharlal Nehru University, New Delhi This summer school is an annual week-long course on corporate restructuring and insolvency, especially focusing on the developments in the insolvency regime in India and the major cases. The academic session is spread across nearly 25 hours and covers various areas such as Insolvency and Bankruptcy Code, 2016,...