Government must resolve conflict between two laws: Bankers

October 16, 2018 INSOL India Editorial

Bankers have asked the government to resolve the conflict between Sections 230-232 of the Companies Act, 2013 that indirectly allow defaulting promoters to take over their assets after they have gone into liquidation and Section 29 (A) of the Code,..

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Voting in the Committee of Creditors: IBBI circular dated September 14, 2018.

October 15, 2018 INSOL India Editorial Team

The Insolvency and Bankruptcy Code, 2016 (“Code”) prescribes voting requirements for various approvals by the Committee of Creditors (“CoC”). An issue has been raised whether a financial creditor, who is not yet admitted as a member of the CoC, would..

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Regulation 36A of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 ultra vires?

October 15, 2018 INSOL India Editorial

In the case of State Bank of India v. Su Kam Power Systems Limited, an application for extension of CIRP was filed in the NCLT, Delhi (“Court”). The Court noted that for the resolution process ‘expression of interest’ was issued..

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NCLAT: Insolvency Bankruptcy Board of India (“IBBI”) cannot discriminate between equals

October 15, 2018 INSOL India Editorial

In the matter of Central Bank of India v. Resolution Professional of the Sirpur Paper Mills Limited & Ors., an appeal was preferred by Central Bank of India that the resolution plan approved by NCLT is in violation of regulation..

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NCLT, New Delhi to start e-filling w.e.f August 28, 2018

September 14, 2018 INSOL INDIA EDITORIAL BOARD

NCLT, New Delhi has via notice dated August 16, 2018 announced that w.e.f August 28, 2018 it shall be starting the e-filing facility. From the said date, filings before NCLT, Delhi is to be done by submitting complete application/petition/appeal/reply etc...

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IBBI and IGIDR jointly organised a conference on IBC

September 14, 2018 INSOL INDIA EDITORIAL BOARD

Insolvency and Bankruptcy Reforms Conference on 3rd August, 2018 at New Delhi, jointly organized by the Insolvency and Bankruptcy Board of India (IBBI) and the Indira Gandhi Institute of Development Research (IGIDR). The Conference took stock of the progress in..

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