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PROCEEDINGS FOR CHEQUE DISHONOUR CAN CONTINUE AGAINST THE OFFICERS OF THE COMPANY DESPITE PRINCIPAL BORROWER UNDERGOING INSOLVENCY PROCEEDINGS On 01.03.2021, in the matter of P. Mohanraj&Ors.Vs M/s Shah Brothers Ispat…

CONSTITUTIONAL VALIDITY OF SECTION 32A OF THE INSOLVENCY AND BANKRUPTCY CODE, 2016 UPHELD BY THE HON’BLE SUPREME COURT The Hon’ble Supreme Court while upholding various amendments to the Insolvency and…

SECTION 14, LIMITATION ACT IS APPLICABLE TO PROCEEDINGS UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016 In the matter of SeshNath Singh &Anr.VsBaidyabatiSheoraphuli Co-operative Bank Ltd. &Anr.(2021) SCC OnLine SC 244,…

Declaration as a Wilful Defaulter: Compliance under RBI Master Circular The Hon'ble Delhi High Court in the matter of Ansal Properties & Infrastructure Limited (Order dated 20.04.2021 in WP No.…

Pre-packaged Insolvency Resolution Process The Government has recently introduced the Pre-packaged Insolvency Resolution Process, which is meant for a time bound resolution of debts of Micro, Small and Medium Enterprises (MSMEs).…

Asset Reconstruction Company (India) Limited vs. Bishal Jaiswal- Hon'ble Supreme Court The judgment of the Hon'ble Supreme Court in the matter of  Asset Reconstruction Company (India) Limited vs. Bishal Jaiswal (Judgment…

Ghanashyam Mishra and Sons Pvt Limited vs. Edelweiss Asset Reconstruction Company Limited: Hon'ble Supreme Court The judgment of the Hon'ble Supreme Court in the matter of Ghanashyam Mishra and Sons…

THE INSOLVENCY AND BANKRUPTCY CODE, 2016-THE TRANSFER OF PROCEEDINGS AGAINST GUARANTORS TO THE NATIONAL COMPANY LAW TRIBUNAL The Insolvency and Bankruptcy Code, 2016 has now come into force. Under the…

REPEAL OF THE SICK INDUSTRIAL COMPANIES SPECIAL PROVISIONS ACT, 1985 AND ADVENT OF THE INSOLVENCY AND BANKRUPTCY CODE, 2016 The Government of India has repealed SICA with effect from 1.12.2016…