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Scope Of NCLT & NCLAT’s Powers Under Section 7 Of IBC, 2016
INTRODUCTION The NCLT was established under Section 408 of the Companies Act, 2013 18 of 2013 w.e.f 01st June 2016 to exercise and discharge all duties and functions conferred on it by or under this Act or any other law in force at the time. The IBC’s institutional foundation called for the creation of a … Continue reading Scope Of NCLT & NCLAT’s Powers Under Section 7 Of IBC, 2016
Read more »Summarizing the interface between Negotiable Instruments Act and the Insolvency Code in P. Mohanraj V Shah Brothers Ispat
Introduction The Supreme Court of India recently pronounced the milestone judgment of P. Mohanraj V. Shah Brothers Ispat Pvt. Ltd. One specific question raised in the said judgment related to whether the scope of Section 14 of the Insolvency and Bankruptcy Code, 2016 (“IB Code”) would cover the magnitude of the Negotiable Instruments Act of … Continue reading Summarizing the interface between Negotiable Instruments Act and the Insolvency Code in P. Mohanraj V Shah Brothers Ispat
Read more »Winding Up/ Liquidation process under the Companies Act, 2013 vis-à-vis Insolvency And Bankruptcy Code, 2016
A firm (for convenience sake called “CD”) regularly supplies certain raw materials to a partnership firm (for convenience sake called “QR”) carrying out its business of manufacturing geysers. After 6 months of regular supply of goods, QR fails to clear the outstanding dues of “CD” amounting to principal amount of Rs.1,25,00/- with interest accrued thereon. … Continue reading Winding Up/ Liquidation process under the Companies Act, 2013 vis-à-vis Insolvency And Bankruptcy Code, 2016
Read more »Amtek Auto Ltd. Restarts Insolvency Proceedings- Did Liberty House escape the Liability?
IBC encompasses the provision of an early insolvency process, the process for insolvency of a company which can be initiated at the time when an alarm is raised as to the default in repayment of loans by the Company. The provision is a boon to the creditors as they can claim for a resolution for … Continue reading Amtek Auto Ltd. Restarts Insolvency Proceedings- Did Liberty House escape the Liability?
Read more »The Companies Act (Amendment) Ordinance 2019 Highlights and Analysis
INTRODUCTION A Committee under the chairmanship of Mr. Injeti Srinivas formed by the Ministry of the Company Affairs (“MCA”) gave their recommendations to relook the offences under the Companies Act, 2013 (“Act”). Consequently ,The Ministry of Law and Justice had came out with an Ordinance dated 2nd November, 2018, further amending 31 provisions of the Act. … Continue reading The Companies Act (Amendment) Ordinance 2019 Highlights and Analysis
Read more »M/s. Sunwhite Infrastructure Pvt Ltd. V. Kindle Developers Pvt Ltd, CP No. 40 (ND)/17 (decided on 23.08.2017)
Facts The petition was filed by M/s Sunwhite Infrastructure Pvt Ltd (hereinafter referred to as “the petitioners”) against Kindle Developers Pvt Ltd (hereinafter referred to as “the respondents”) Sec 241[1] and Sec 242[2] of the Companies Act, 2013 alleging acts of mismanagement and oppression prejudicial to the interests of the company as well as the … Continue reading M/s. Sunwhite Infrastructure Pvt Ltd. V. Kindle Developers Pvt Ltd, CP No. 40 (ND)/17 (decided on 23.08.2017)
Read more »Mobilox Innovations Private limited vs. Kirusa Software Private Limited
The much debated question with respect to the interpretation of what amounts to “existence of a dispute” has been finally answered by the Supreme Court in the (Mobilox vs. Kirusa) judgment. The interpretation of “existence of dispute” was seen in the context of initiation of CIRP of corporate debtors under the Insolvency and Bankruptcy Code, … Continue reading Mobilox Innovations Private limited vs. Kirusa Software Private Limited
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