Technical Objections like Insufficient Stamp Duty Cannot Defeat Insolvency Proceedings When Debt and Default Proven: NCLAT [Read Order]

The National Company Law Appellate Tribunal (NCLAT), Principal Bench at New Delhi, has dismissed an appeal filed by assessee, suspended Director, and upheld the order of the National Company Law Tribunal (NCLT), Mumbai Bench, admitting a Section 7 application under the Insolvency and Bankruptcy Code, 2016 (IBC). The Appellant, Siddharth Satish Katariya, had challenged the…

IBBI Pushes For Holistic Valuation Approach To Improve Insolvency Outcomes

New Delhi, Nov 17 (KNN) The Insolvency and Bankruptcy Board of India (IBBI) has proposed significant changes to valuation norms under the Insolvency and Bankruptcy Code (IBC) to address inconsistencies and prevent undervaluation of distressed companies, particularly those with substantial intangible assets. In its discussion paper ‘Strengthening the Valuation Process under the Insolvency and Bankruptcy…

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