The National Company Law Appellate Tribunal permits promoters of Sterling Biotech (undergoing its liquidation) to take back control
September 18, 2019 INSOL INDIA EDITORIAL BOARD
Vide its order dated August 28, 2019, the National Company Law Appellate Tribunal (“NCLAT”) passed a conditional order permitting the promoters of Sterling Biotech Limited (“SBL”), to regain control of the corporate debtor. SBL was ordered to be liquidated by..
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Supreme Court of India upholds the constitutional validity of the amendment to the IBC which deems allottees as financial creditors
September 18, 2019 INSOL India Editorial Board
The Supreme Court of India (“SC”) in the case of Pioneer Urban Land and Infrastructure Limited and Anr. vs. Union of India and Ors upheld the constitutional validity of the Insolvency and Bankruptcy (Second Amendment) Act, 2018 (“Amendment Act”) and..
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The Insolvency and Bankruptcy Board of India (“IBBI”) introduces amendments to the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 (“Liquidation Regulations”)
September 18, 2019 INSOL India Editorial Board
The IBBI has introduced certain amendments to the Liquidation Regulations vide the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2019 which came into force on July 25, 2019 (“Liquidation Amendment Regulations”). Some of the..
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The Insolvency and Bankruptcy Board of India (“IBBI”) introduces amendments to the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (“CIRP Regulations”)
September 18, 2019 INSOL India Editorial Board
The IBBI has introduced certain amendments to the CIRP Regulations vide the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2019 which came into force on July 25, 2019 (“CIRP Amendment Regulations”). Some of..
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The IBC amended vide the Insolvency and Bankruptcy (Amendment) Act, 2019
September 18, 2019 INSOL India Editorial
The President of India on August 05, 2019 assented to the Insolvency and Bankruptcy (Amendment) Act, 2019 (“Amendment Act”). The Amendment Act was brought in force with an aim to ensure that the Insolvency and Bankruptcy Code, 2016 (“Code”) is..
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The Insolvency and Bankruptcy Board of India clarifies the procedure for temporary surrender and revival of professional membership of an insolvency professional
July 15, 2019 INSOL India Editorial Team
The IBBI, vide its circular dated May 02, 2019, has clarified the procedure for temporary surrender and revival of professional membership of an insolvency professional (“IP”). IPs have the right to temporarily surrender their professional memberships in accordance with the..