Tag: IBC

Jitender Singh Sodhi and Anr. vs. Deputy Commissioner of Income Tax and Anr

INTRODUCTION The Punjab & Haryana High Court Single Bench presided by Hon’ble Justice Mahabir Singh Sindhu, vide Judgment dated 13.05.2024 in Jitender Singh Sodhi and Anr. vs. Deputy Commissioner of Income Tax and Anr. held

“NCLAT clarify when Interim moratorium commences against the Personal Guarantor, If Section 95 Application is not filed before proper jurisdictional NCLT” – An Analysis of the Mr Arvind Dham v. State Bank of India and Anr. Case.

Introduction: The case of Mr Arvind Dham v. State Bank of India and Anr. revolves around the admission of Section 95(1) application filed by the State Bank of India against the appellant, Mr Arvind Dham,

The timelines as stipulated in the Code needs to be considered as of directory nature and not as mandatory in nature: NCLAT, New Delhi

Introduction: In the matter of Vikram Laxman Pawar v. Sripatham Venkatasubramaniam Ramkumar, [i] the Hon’ble National Company Law Appellate Tribunal (NCLAT) held that the timelines established under the Insolvency and Bankruptcy Code should be regarded

Abdullah Qureshi, Associate Partner, INDIALAW LLP quoted in Business Standard.

Coverage: https://www.business-standard.com/companies/news/after-making-insolvency-process-creditor-driven-can-ibc-address-the-delays-124041400429_1.html #insolvency #ibc #creditor #businessstandard #indialawllp

Abdullah Qureshi, Associate Partner, INDIALAW LLP quoted in Business Standard

Properties sold in auction sale prior to the commencement of moratorium cannot be treated as liquidation assets of the Corporate Debtor: Supreme Court 

The Hon’ble Supreme Court (“SC”) comprising of Hon’ble Justice Aniruddha Bose and Hon’ble Justice Vikram Nath in the matter of Haldiram Incorporation Pvt. Ltd. v. Amrit Hatcheries Pvt. Ltd.[i] asserted that the properties auctioned for