Operational Creditors Cannot File Joint Application
Operational Creditors Cannot File Joint Application National Company Law Appellate Tribunal (“NCLAT) in Uttam Galva Steel Limited Vs. DF Deutsche Forfaight AG[1] considered the following questions under Insolvency & Bankruptcy Code (the “Code”): Whether a
Disclosure of proceeding under Negotiable Instrument Act is immaterial while filing Insolvency Proceedings
The Kolkata bench of the National Company Law Tribunal (“NCLT”) held that while filing an application for insolvency under the Insolvency and Bankruptcy Code 2016 (the “Code”) it was not necessary to disclose the fact
Supreme Court Allows Withdrawal of Insolvency Application after Admission
In a latest judgment, the division bench of the Supreme Court comprising of J. Rohinton Fali Nariman and J. Sanjay Kishan Kaul, in Lokhandwala Kataria Construction Private Limited v. Nisus Finance and Investment Managers LLP[1]
Government’s Drive Against Corporate Bad Loans Gets A Big Boost
The High Court of Gujarat (“High Court”) on 17th July 2017 dismissed a plea by Essar Steel (“Essar”) against a circular issued by the Reserve Bank of India (“RBI”) on 13th June 2017. This circular
Companies (Transfer of Pending Proceedings) Second Amendment Rules 2017: Extension of time for application to transfer pending winding up proceedings
The Ministry of Corporate Affairs (“MCA”) further extended the date for filing application for transferring pending winding up application to National Company Law Tribunal (“NCLT”). In December 2016 MCA had issued Companies (Transfer of Pending
Applications under Insolvency code touching 100.
Despite nearly six months of its coming into existence, the new insolvency regime is on a slow start. So far 99 applications have been admitted in all its 10 benches across the country. Below are
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