IBBI amends CIRP Regulations to include claims of other creditors IBBI has taken a step towards making positive changes in the Insolvency and Bankruptcy Board of India (‘the Code’). The amendments being brought to Regulations pertaining to Corporate Insolvency Resolution Process, provides a relief to home buyers, who are stuck in the depth of undelivered […]
Introduction The Supreme Court of India vide its order dated July 24, 2017, in the case of Lokhandwala Kataria Construction Private Limited v. Nisus Finance and Investment Managers LLP[1](Civil Appeal No. 9279 Of 2017), used its special powers under Article 142 of Constitution of India to allow the two organisations to withdraw from insolvency proceedings […]
The Ministry of Corporate Affairs (“MCA”) vide its Notification No. G.S.R. 1119(E) dated December 7, 2016 issued the Companies (Transfer of Pending Proceeding) Rules, 2016 (‘TPP Rules, 2016’) in exercise of the powers conferred under section 431 (1) and (2) of the Companies Act, 2013 (‘Act, 2013’) read with section 239 (1) of the Insolvency […]
Insolvency and Bankruptcy Board of India (‘IBBI’) vide notification number IBBI/2017-18/GN/REG 012 dated 14th June, 2017 [1]has come up with Fast track Insolvency regime for small companies by introducing the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017 (‘Fast Track Regulation’) and has appointed 14th June, 2017 […]