Banking
IBC – Section 7(1) enables a financial creditor to initiate corporate insolvency resolution in respect of a financial debt owed not only to the applicant
IBC – Section 7(1) of the IBC enables a financial creditor to initiate corporate insolvency resolution process “when a default...
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IBC S. 7 – Date of default falling after 25th March 2020 up to September 2020 – Barred.
Insolvency and Bankruptcy Code, 2016, S. 7 - Petitioner’s own case that the alleged date of default arose after 25th...
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IBC S. 7 – For dues payable by a separate corporate entity, its sister concern/group company cannot be driven into CIRP.
Insolvency and Bankruptcy Code, 2016, S. 7 - For dues payable by a separate corporate entity, its sister concern/group company...
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IBC S. 7- Revival of the petition on failure to abide by the consent terms
IBC S. 7- Revival of the petition on failure to abide by the consent terms - The Consent Terms clearly...
Read morePooja Finlease Ltd. v. Auto Needs (India) Pvt. Ltd., 2022 PLRonline 0299 (NCLAT)
2022 PLRonline 0299 (NCLAT) NATIONAL COMPANY LAW APPELLATE TRIBUNAL PRINCIPAL BENCH, NEW DELHI Before: Chairperson , [Justice...
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IBC S. 7, 9 – Unlike Section 9, there is no scope of raising a ‘dispute’ as far as Section 7 petition is concerned – As soon as a ‘debt’ and ‘default’ is proved, the adjudicating authority is bound to admit the petition.
Insolvency and Bankruptcy Code, 2016, S. 7 , 9 - Unlike Section 9, there is no scope of raising a...
Read moreIDBI Trusteeship Services Limited v. Radius and Deserve Builders LLP, 2022 PLRonline 0298 (NCLT -Mumbai)
NCLT (Mumbai) Before: Justice P. N. Deshmukh (Retd.), Mr. Shyam Babu Gautam IDBI Trusteeship Services Limited v. Radius and Deserve...
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Sarfaesi Act S. 17 – Limitation – Power of DRT to condone delay.
(Editor: INTERIM ORDER AGAINST THE JUDGMENT OF HIGH COURT OF KERELA, Judgment of Kerela High Court can also be downloaded...
Read moreContract Act. S. 133, 135 – Guarantors cannot be made liable beyond the terms of engagement
Contract Act. S. 133, 135 Guarantee – Loan – Restructuring/Reschedulement by Bank – Bank did not insist for execution of...
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Wilful defaulter – Banking – Declaration – Order of the Review Committee being unreasoned – Set Aside
Wilful defaulter – Banking - Declaration – Order of the Review Committee being unreasoned - The recital of conclusions does...
Read moreWilful defaulter – Banking – Declaration – If the constituent of a bank is inadequately apprised of the reasons which have weighed with the Identification Committee, its opportunity of filing a representation will become meaningless
Wilful defaulter – Banking - Declaration - Although the allegations against the petitioners have been summarised while enumerating the grounds...
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Sarfaesi – Private treaty – Sale of Secured Assets Through Private Treaty
Sale of Secured Assets Through Private Treaty, circular 01.11.2017 – Constitution of India, Article 14, 226 - Vires - The...
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Sarfaesi – Private treaty – Sale – Secured creditor shall sell the property in dispute firstly by way of a public auction or e-auction
Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002) - Security Interest (Enforcement)...
Read moreLookout Circular (LoC) – Banking – Mere subsistence of an allegation of default could not trigger the issuance of the LoC
Constitution of India, Art. 14, 19(1)(g) and 21 - Lookout Circular (LoC) – Banking - Mere subsistence of an allegation...
Read moreIBC – Objectives
1. Swiss Ribbons Pvt. Ltd. & Anr. V. Union of India & Ors. [WP (Civil) Nos.99, 100, 115, 459, 598,...
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