Benami Act attachments cannot be challenged before NCLT

The Supreme Court has delivered a significant ruling clarifying the boundaries between the Insolvency and Bankruptcy Code and the Prohibition of Benami Property Transactions Act, holding that attachments under the Benami Act can only be challenged before authorities constituted under that legislation and not before the NCLT or NCLAT under the IBC framework. A bench…

Are Homebuyers Finally Getting Priority in Real Estate Insolvency?

From Unsecured to Influential: Homebuyers Gain Ground Under IBC Reforms Homebuyers gain stronger representation in insolvency proceedings, with improved participation in the Committee of Creditors (CoC). Possession rights protected – Completed flats can be handed over during insolvency, and occupied units are safeguarded from liquidation. CIIRP introduced under the Insolvency and Bankruptcy Code, enabling faster,…

NLUD Wins 1st RGNUL National Corporate Liquidation Process Competition

Rajiv Gandhi National University of Law (RGNUL), through its Insolvency and Bankruptcy Law Division under the Centre for Business Laws and Taxation, successfully hosted the 1st RGNUL National Corporate Liquidation Process Competition. The competition brought together leading law schools to deliberate on complex issues arising under the Insolvency and Bankruptcy Code, 2016. The final round…