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| IBC Laws - Insolvency & Bankruptcy (IBC), Companies Act & SARFAESI Google Reviews Email Google Reviews Email | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| India’s #1 Insolvency Platform. A complete guide on Indian Insolvency Laws. IBC Case Laws, Companies Act Case Laws, SARFAESI Case Laws, Recovery of Debt and Bankruptcy Case Laws, Legal Contents, Commentary, Articles. All about Indian Insolvency Laws. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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h2 All about Default, Dispute & Debt Resolution
h3 Legal Structure of Liquidator’s Fee under Insolvency Code (IBC)
h3 All about “Allottee” and “Real Estate Project” for filing a Real Estate Insolvency Petition
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h3 All about Arbitration vs. Insolvency – The Interplay between Insolvency and Bankruptcy Code, 2016 (IBC) and Arbitration and Conciliation Act, 1996
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h2 Recent Judgments
h2 The pendency of Civil Suit is no reason for not proceeding to admit Section 7 Application under IBC – Navin Chandra Mishra (Suspended Director of CMR Lifesciences Pvt. Ltd.) Vs. Nand Kishore Palaha and Ors. – NCLAT New Delhi
h2 In an event of the breach of repayment by Personal Guarantor, the legal consequences would automatically follow as per the provisions contained under Section 118 of the IBC – Tummala Sri Ganesh Vs. State Bank of India and Anr. – NCLAT New Delhi
h2 The definition of ‘Party’ under NCLT Rule 2(16) includes the words person preferring an appeal and it does not classify or subclassify the party to the proceedings | Word ‘Person Aggrieved’ used in Sec. 61 of IBC is wide enough to include within it, a party to the proceedings, as well as any other person other than the party to the proceedings – Southern Power Distribution Company of Telangana Ltd. Vs. Kalvakolanu Murali Krishna Prasad RP for Vaksh Steels Pvt. Ltd. and Ors. – NCLAT New Delhi
h2 In the absence of the compliance of Section 69(2) of the Indian Partnership Act, 1932, an unregistered Partnership Firm cannot file insolvency petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 – Amogh Industrial Products Vs. Mirchi Developers Pvt. Ltd. – NCLT Hyderabad Bench
h2 There is no provision under the RERA Act which calls for the owner of the land to co-sign as a Promoter | An application is deemed to have been registered after lapse of the mandatory period as per Section 5(2) of Real Estate (Regulation and Development), Act, 2016 | Once the project is deemed to have been approved under the deeming provision, it is beyond the jurisdiction of RERA Authority to reject the application – Larsen & Toubro Ltd. Vs. State of U.P. and Ors. – Allahabad High Court
h2 Whether it is mandatory for Promoter to have first Completion Certificate and Occupation Certificate under the provisions of the Real Estate (Regulation and Development) Act, 2016 (RERA) before offering possession as well as asking the allottee to settle the account and satisfy the final demand? – Abha Khanna Vs. KVG Realtech Pvt. Ltd. – Uttar Pradesh REAT
h2 Mere non-execution of the agreement for sale, Allottees are not precluded from invoking Section 18 of RERA | If the date of possession is not mentioned in the agreement, the Promoter is expected to handover the possession of the unit within a reasonable time and the period of three years held to be reasonable time – Malkeet Singh G. Matharu HUF Vs. Mount Mary Builders and Anr. – Maharashtra REAT
h2 Single Member of RERA has the power and jurisdiction to consider a complaint under RERA | Merely transfer of project land title to allottee, real estate project does not come to end | Date of establishment of the RERA is not relevant to decide whether a project is liable to be registered or not | No separate procedure is prescribed for adjudicating of Registration issues under Section 3 and imposition of penalty under Section 59 of RERA – Shwas Builders and Developers Pvt. Ltd. and Ors. Vs. Premchand Surendran – Kerala High Court
h2 The appellate power of Section 37 of the Arbitration and Conciliation Act, 1996 is limited within the domain of Section 34 of the Arbitration Act – Punjab State Civil Supplies Corporation Ltd. and Anr. Vs. Sanman Rice Mills and Ors. – Supreme Court
h2 Supreme Court summarises legal principles governing a challenge to an Arbitral Award under Section 34 of Arbitration and Conciliation Act, 1996 – OPG Power Generation Pvt. Ltd. Vs. Enexio Power Cooling Solutions India Pvt. Ltd. and Anr. – Supreme Court
h2 A complaint/action under Section 27(5) of the Arbitration and Conciliation Act, 1996 can only be initiated by an Arbitral Tribunal – V.Sreenivas Reddy Vs. B.L. Rathnamma – Telangana High Court
h2 Swamih Investment Fund I Vs. Modest Infra Ltd. and Ors. – Delhi High Court
h2 Whether proceedings under Section 138 of Negotiable Instruments Act, 1881 abate on account of initiation of proceedings under Section 94(1) of Insolvency and Bankruptcy Code or can be proceeded simultaneously? – Tushar Sharma Vs. State Bank of India – Himachal Pradesh High Court
h2 The charge of the secured creditor shall precede over the charge of the unsecured creditor – S. Mark Engineering (I) Pvt. Ltd. Vs. Commissioner of Sales Tax and Ors. – Gujarat High Court
h2 Can issue of valuation of the mortgaged property be adjudicated by the High Court in writ jurisdiction under Article 226? | Is due to the pre-condition provided under Section 30 of the Recovery of Debts and Bankruptcy Act, 1993 the writ petition to be entertained? – Paritran Medical College and Hospital Vs. Punjab National Bank and Ors. – Jharkhand High Court
h2 Auction purchaser in auction proceedings conducted under the SARFAESI Act, 2002 by Bank (Secured Creditor) shall have priority over all the debts and revenues, taxes, cesses and other rates payable to the State Authorities – Kuberbhai Madhabhai Kher Vs. Department of State Tax and Ors. – Gujarat High Court
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