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During the period of CIRP, an IP in his/her capacity as the IRP/ RP is responsible for compliance of various mandatory filings and disclosures related to the Corporate Debtor. This includes but not limited to, various compliances under The Companies Act, 2013; Income Tax Act, 1961; Goods and Services Tax Act 2017; Provident Fund...

Valuation of assets of corporate debtor under the Insolvency and Bankruptcy Code, 2016 (“Code”) is a core feature of the entire Corporate Insolvency Resolution Process (“CIRP”) since it helps the Committee of Creditors (“CoC”) to take a conscientious decision on the viability of a resolution plan. Valuation report al...

The Ministry of Corporate Affairs (“MCA”) vide notification no. S.O. 4126 (E), dated November 15, 2019 (“MCA Notification”), made IBC provisions relating to personal insolvency applicable, only in so far as relating to Personal Guarantors to Corporate Debtor (PG to CD) effective from December 1, 2019. After the publica...

Expert Committee, constituted by Ministry of Housing and Urban Affairs and headed by Mr Amitabh Kant, presently G-20 Sherpa of India and ex- CEO, NITI Aayog, to examine issued related to legacy stalled real estate projected, has submitted its report. Committee has categorised its recommendations in following heads: I. Mandat...

Judiciary and Counsel Details Justice Ashok Bhushan, Chairperson & Barun Mitra, Technical Member A.N.S. Nadkarni, Sr. Adv., Hardeep Sachdeva, Sameer Sodhi, Abhyudai Singh, Kanika Singhal, Mukund, Dhruv Wadhwa, Ms Deepty Arya, S.S. Rebello, Ms Arzu Paul, Ms Manisha Gupta, Rahul Singh, Nishant Shokeen, Ms Sumita Singh & Altamash...

Judiciary and Counsel Details Anant Bijay Singh, Judicial Member & Ms Shreesha Merla, Technical Member Saurav Roy, Kaushal Sharma & Prabudh Singh, Advs. for the Appellant. Prashant Kumar, Adv. for the Respondent. Facts of the Case In the instant case, the appellant (i.e. development authority) executed a lease deed for a ...

Judiciary and Counsel Details M. Nagappasanna, J. Dhyan Chinnappa & Shwetha Krishnappa for the Petitioner. K.G. Raghavan, Sr. Adv. & Ajay J. Nandalike, Adv. for the Respondent. Facts of the Case In the instant case, the corporate debtor was granted a lease by an authority to conduct windmill operations on forest land. The...

Judiciary and Counsel Details M. Venugopal, Judicial Member & Naresh Salecha, Technical Member V. Venkata Sivakumar, Arun Kathpalia, Sr. Adv., Varun Srinivasan, Adv., P. Wilson Sr. Adv. Ms N. Kalaivani & J. Manivannan, Advs. for the Appearing Parties. Facts of the Case In the instant case, the appellant was appointed as th...