The Insolvency and Bankruptcy Board of India (IBBI) have dismissed an appeal filed by Mr. Vipan Kumar, a registered valuer (RV), challenging his three-month suspension. The disciplinary action, originally imposed by IBBI on 26th March 2025, pertained to his role in the corporate insolvency resolution process (CIRP) of M/s Base Corporation Limited. Mr. Kumar, registered…
The Allahabad high court held that protection of Insolvency Bankruptcy Code (IBC), 2016 is only applicable to corporate debtors and not to persons who draw cheques in Individual capacity. The court allowed the applicants to raise all contentions, legal or factual, before the court below while contesting the proceedings. A complaint was lodged by O.P.…
The National Company Law Tribunal (NCLT), Indore Bench of Sh. Shammi Khan (Judicial Member) and Sh. Sanjeev Sharma (Technical Member) has held that while admitting a petition under Section 7 of the IBC filed by homebuyers based on the default committed by the corporate debtor, the corporate debtor can be directed to complete the project…
Permitting Repeated Invitation of EOI (Form G) merely on behest of Individual Stakeholder Will Defeat Timeliness under IBC: NCLT [Read Order] Taxscan Read the original article here
In af recent case, the National Company Law Tribunal (NCLT) on finding that the IRP has faced resistance from suspended management and the non-cooperation from the members of CoC, and directed the members to corporate with the Liquidator. The application has been filed by the Interim Resolution Professional (IRP) acting as Resolution Professional (RP), seeking…
Interest Claims Under MSMED Act Can’t Be Added To Principal Amount: NCLT Mumbai Live Law Read the original article here
A company called 24M Technologies may have just cracked the code for faster, more efficient EV batteries, according to a recent article. The company’s new electrolyte, Eternalyte, promises to make charging an electric car four times faster than what we see today — and it’s all possible with regular charging stations, with no need for…
While Joann Fabrics locations closed across the country, disturbing reports emerged about the company’s liquidation practices. What’s happening? A Redditor visiting their local store witnessed employees discarding sewing patterns in rolling garbage cans. When asked about this practice, an employee explained that liquidators had instructed them to “keep 4 and toss the rest,” adding that…
The first liquidators report has been published after three more companies run by Jacks Point property developer Dean Franklin went into liquidation with IRD tax debts of $2.1 million and loans owed by related parties of over $8 million. Falconer Corporate Ltd, Founder Corporate Ltd and S R Corporate Ltd all entered liquidation on June…
The Supreme Court’s (SC) decision to recall its May 2 judgment that had ordered the liquidation of Bhushan Power and Steel (BPSL) is a significant positive outcome for the Insolvency and Bankruptcy Code (IBC) and the overall framework for stressed asset resolution in India. The top court’s decision to hear the case afresh on August…