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Insolvency initiation application for recovery of interest only is not maintainable under IBC
In the recent NCLAT matter decided on 03rd February, 2023, NCLAT dealt with one of such issues on interest on operational debt. This article covers this case law of NCLAT in brief with its analysis.
Report on Group Insolvency: Key Highlights
On 18th January 2023, the MCA had placed the second report of the CBIRC on enterprise group insolvency based upon UNCITRAL Model Law for enterprise group insolvency.
Proposed amendments in IBC in the year 2023
The amendments vide Insolvency and Bankruptcy Code (Amendment) Bill 2022 to the Insolvency and Bankruptcy Code (IBC), which came into force in 2016 for timely resolution of stressed assets, are expected to be introduced in the Budget session of Parliament early next year.
Key Highlights of IBBI Regulations, 2022
On 31st October 2022, IBBI has amended the IBBI( Model Byelaws and Governing Board of Insolvency Professional Agencies) Regulations, 2016 vide IBBI( Model Byelaws and Governing Board of Insolvency Professional Agencies) (Second Amendment) Regulations, 2022.
Management Aspects in Insolvency and Bankruptcy Process
As per section 17 of the Insolvency and Bankruptcy Code, from the date of appointment of the interim resolution professional, the interim resolution professional vested with the management of the corporate debtor.
Cost records and Cost audit under companies act, 2013
The Cost Audit represents the verification of cost accounts and a check on the adherence of Cost Accounting Standards.
Insolvency and Bankruptcy Code Provisions relating to Personal Guarantors - All Writ Petitions transferred to SC
The Supreme Court has directed that writ petitions involving IBC 2016 and other provisions related to personal guarantors shall not be entertained by any High Court.
Commencement Notification of Companies (Amendment) Act, 2019
MCA Commencement Notification of Companies(Amendment) Act, 2019Ministry of Corporate Affairs (MCA) has vide its Commencment Notificaition dated 14.08.2019, app...
Analysis of the amended provisions of Extract of Annual Return (Form MGT-9)
Introduction:The Companies (Amendment) Act 2017 ('CAA, 2017') introduced several amendments to the Companies Act 2013, realigning existing provision
ACTIVe form - Practical difficulties and unresolved issues
Introduction:The Ministry of Corporate Affairs (MCA) through notification dated 21st February, 2019 introduced the Companies (Incorporation) Amendment Rules, 20...
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