Uphealth Holdings INC. vs Dr. Syed Sabahat Azim & Ors. – Moratorium declared by U.S. Court under Insolvency Laws is not binding to Stay Proceedings in Indian Courts: Calcutta HC
Introduction: In the case of Uphealth Holdings INC. vs. Dr. Syed Azim & Ors., the Calcutta High Court while dismissing the Revision Petition held that moratorium declared under the United States Bankruptcy Law is not
Related Parties of the Corporate Debtor cannot circumvent Proviso to Section 21(2) of IBC by Assignment of Financial Debt to a Third Party: NCLAT Delhi
Introduction In the case of Peanence Commercial Pvt. Ltd. & Ors. v. Mamta Binani (RP for Rolta India Limited)[1], the Hon’ble NCLAT upheld the decision of NCLT Mumbai Bench stating that merely assignment of financial
Section 5(2) of the SARFAESI Act contains a deeming clause that allows the ARC to pursue the Section 7 IBC proceedings, in cases where an Assignment Agreement is duly registered: NCLAT Delhi
In the case of Emta Coal Ltd. v. L&T Finance Ltd. and Anr., the National Company Appellate Tribunal vide Order dated 28.05.2024 held that when debt assignment is registered without raising any objections regarding inadequacy
Jitender Singh Sodhi and Anr. vs. Deputy Commissioner of Income Tax and Anr
INTRODUCTION The Punjab & Haryana High Court Single Bench presided by Hon’ble Justice Mahabir Singh Sindhu, vide Judgment dated 13.05.2024 in Jitender Singh Sodhi and Anr. vs. Deputy Commissioner of Income Tax and Anr. held
Whether A Cost Incurred By Resolution Professional During CIRP Qualifies as CIRP Cost?
Introduction In a recent ruling dated 14.05.2024, in the case of Avil Menezes (Liquidator) v. Abdul Qudduskhan and Anr,[i] the Hon’ble NCLAT, New Delhi, clarified that the mere fact that dues have arisen during the
Treatment Of Secured Creditors In Liquidation Under The Insolvency And Bankruptcy Code (Ibc)
Insolvency And Bankruptcy Code (IBC) The Insolvency and Bankruptcy Code (IBC), enacted in May 2016 and effective from December 2016, aims to consolidate and amend laws related to the reorganization and insolvency resolution of corporate
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