Liability Of Corporate Debtor Not Discharged By Release Of Guarantors’ Liability If Bank Preserves Right To Proceed Under IBC: NCLAT

The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Rakesh Kumar Jain (Judicial Member), Mr. Naresh Salecha (Technical Member) and Mr. Indevar Pandey (Technical Member) has held that the liability of the Corporate Debtor is not discharged merely because the guarantors were released from their liabilities by the Bank after One time…

Small business restructures: smart solution or ‘flavour of the month’?

Recently released data from ASIC outlines that the uptake of small business restructuring (SBR) appointments has significantly increased in 2024–25, with an overall positive sentiment and benefit. An SBR process is the first external administrator appointment where directors are able to keep control of an insolvent company, rather than the appointed registered liquidator. You’re out…

Govt Cannot Maintain Attachment Of Property To Press For Recovery Outside Liquidation Framework: NCLAT Chennai

The National Company Law Appellate Tribunal, Chennai Bench, comprising Justice Sharad Kumar Sharma (Member – Judicial) and Jatindranath Swain (Member – Technical), has addressed the conflict between a secured creditor’s statutory attachment under the Tamil Nadu Revenue Act, 1864, and the liquidation process under the IBC, 2016. The tribunal held that the government’s attachment of…

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