The Delhi Bench of the National Company Law Appellate Tribunal (NCLAT) rejected the appellant’s corporate guarantee claim as time-barred and held that the 388-day delay violates the provisions of Section 12 of the Insolvency and Bankruptcy Code, 2016. In this case, the appeal was filed by Moneywise Financial Services Private Limited under Section 61 of…
The Insolvency Law Academy (ILA) is pleased to announce that its 4th Annual Conference will be held from 24 to 26 January 2026 at the Ramoji Film City in Hyderabad, India. Founded by Sumant Batra (International Fellow of the American College of Bankruptcy and past President of INSOL International), the ILA is a leading think tank committed to…
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“The IRD’s got quite a lot of arrears that they need to collect in, which built up post-Covid when they were taking the more softly approach. “Historically, they’re closer to an even split between themselves and all other creditors, but at the moment, they’re definitely making up a large portion of the applications.” The ramp-up…
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The New Delhi bench of the National Company Law Appellate Tribunal (NCLAT) has held that when a default occurs beyond outer limit of Section 10A of Insolvency and Bankruptcy Code 2016 (‘IBC’), a fresh insolvency application can be filed under Section 7 of the Code. Gangadhar A. Kotian, Suspended Director of Bombay Rayon Clothing Ltd…
Dartbrook coal mine enters administration Mining Weekly Read the original article here
The National Company Law Tribunal, Ahmedabad bench of Mr. Shammi Khan (Judicial Member) and Mr. Sanjeev Kumar Sharma (Technical Member), held that related party status as per the Insolvency & Bankruptcy Code must be determined on the date of commencement of Insolvency Proceedings and not based on historical roles. Background Facts: The Corporate Debtor, Sebacic…