Tag: CorporateInsolvency
Supreme Court Upholds IBC Principle: All Claims Outside Resolution Plan Are Extinct
Introduction The Supreme Court of India in Electrosteel Steel Limited vs Ispat Carrier Private Limited (Civil Appeal No. 2896 of 2024 arising out of SLP (C) No. 15823 of 2023), reinforced a pivotal principle governing
Finality in Insolvency Resolution: Supreme Court’s Stance on Belated Claims in CIRP Cases
Background of the Case The Supreme Court of India recently delivered a significant judgment in the case of Vaibhav Goel & Anr. versus Deputy Commissioner of Income Tax & Anr. (Civil Appeal No. 49 of
IBBI Enhances Disclosure Requirements for Carry forward losses in Corporate Insolvency Resolution Process
The Insolvency and Bankruptcy Board of India (IBBI) has issued a new circular dated 17th March 2025, aimed at improving transparency in the Corporate Insolvency Resolution Process (CIRP). The directive mandates Insolvency Professionals (IPs) to
Section 138 NI Act and IBC Moratorium: Supreme Court Defines the Boundaries
The Supreme Court of India recently delivered a significant judgment in the case of Vishnoo Mittal versus M/S Shakti Trading Company, addressing the interplay between insolvency proceedings and criminal prosecutions under the Negotiable Instruments Act.
Buyer Beware: Court Holds New Management Liable for Unpaid Gratuity in Insolvency Cases
The High Court of Calcutta recently delivered a significant judgment in the case of M/s. Stesalit Limited vs. Union of India & Ors., addressing disputes over gratuity payments under the Payment of Gratuity Act, 1972,
IBBI Issues New Guidelines for Insolvency Professionals to Update Appointments on Its Portal
The Insolvency and Bankruptcy Board of India (IBBI) has introduced a new circular that formalizes the process for insolvency professionals (IPs) to update their appointments on the IBBI portal. This move aims to improve record-keeping,
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