“Application under Section 9 IBC is maintainable despite proceedings of execution pending before Civil Court” – National Company Law Appellate Tribunal [NCLAT] The NCLAT Principal bench of Justice Ashok Bhushan and Dr Alok Srivastava in a recent case, Mukul Agarwal vs Royale Resinex Pvt. Ltd & Anr decided that the operational creditor is not barred […]
The Madras High Court in a recent Judgment in M/s Nag Leather Pvt. Ltd. V. M/s Muzain Hides reiterated the observations made by Hon’ble Apex Court in P. Mohanraj Mohanraj and Ors. V. Shah Brothers Ispat, held that upon imposition of Moratorium under Section 14 of Insolvency And Bankruptcy Code (the Code), proceedings under Section […]
There was some ambiguity in last more than one year in respect of applicability of Notification SO 1205(E) dated 24th March 2020 issued by the Ministry of Corporate Affairs. Said notification had increased the threshold limit of filing the insolvency petition either in section 7 or 9 of Insolvency & Bankruptcy Code 2016 [IBC 2016] […]
An article by Ms. Kaushiki Ranjan legal researcher at Mirza & Associates, Advocates & Attorneys Recently, “haircuts” have been reported by lenders under resolution plans approved under the provisions of the Insolvency and Bankruptcy Code (IBC). A haircut, in this context, refers to a reduction in creditors’ recoveries compared to their claims presented to an insolvency professional, as […]
