What the IBBI’s 2025 CIRP Amendments Mean for Stakeholders

Introduction The Insolvency and Bankruptcy Board of India’s latest modification to the Corporate Insolvency Resolution Process (CIRP) framework marks a significant regulatory pivot toward transparency, accountability, and legal certainty. The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Seventh Amendment) Regulations, 2025, sharpen the focus on beneficial ownership disclosures and calibrate…

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[Section 138 NI Act] Dishonour Due to ‘Account Blocked’ After Liquidation Does Not Constitute Offence: Delhi High Court

The Delhi High Court has quashed criminal proceedings initiated under Section 138 of the Negotiable Instruments Act, 1881 (NI Act) against the former directors of a private limited company. The Court held that dishonour of cheques with the remark “ACCOUNT BLOCKED” due to ongoing insolvency and liquidation proceedings does not constitute an offence under Section…

NCLAT Rulings of 2025 (Part 2 )

Insolvency Application against Personal Guarantor is Maintainable u/s 60(1) of IBC even in Absence of Pending CIRP against CD: NCLAT Anita Goyal vs Vistra ITCL (India) Ltd. & Anr CITATION : 2025 TAXSCAN (NCLAT) 141 The National Company Law Appellate Tribunal ( NCLAT ) bench in New Delhi has ruled that, even in cases where…